Selecting a real estate agent can be a daunting task, especially when there are so many options available. Therefore, selecting a real estate agent who understands your unique needs is crucial when you plan to buy or sell property. In this guide, we provide valuable tips and essential questions to ask during your interviews with potential agents.
Why Selecting a Real Estate Agent Matters
The process of selecting a real estate agent should not be taken lightly. Just as you would thoroughly research your accountant, doctor, or attorney, it is important to do your homework when choosing a real estate professional. Moreover, a well-informed decision can lead to a smoother transaction and a better overall experience.
Key Questions to Ask When Selecting a Real Estate Agent
Below are some important questions to consider during your interview with potential agents:
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Are you a member of the National Association of REALTORS®?
Ask if they are a NAR REALTOR®. A NAR REALTOR® is a licensed professional who has joined the National Association of REALTORS® and agrees to follow its Code of Ethics. This code sets higher standards for professionalism and ethical conduct compared to other agents. -
How long have you been in real estate sales, and is it your full-time job?
Additionally, inquiring about their experience provides insight into their expertise. Although experience does not guarantee skill, real estate—like many professions—is primarily learned on the job. -
How many properties did you and your brokerage sell last year?
Next, understanding the volume of transactions handled by the agent gives you a sense of their success rate and familiarity with the market. -
How many days on average did it take you to sell a listing, and how does that compare to the overall market?
Furthermore, a knowledgeable agent should be able to present market statistics from the local MLS and explain how their performance compares to market averages. -
How close to the initial asking prices were the final sale prices?
Moreover, this question helps gauge the agent’s ability to price and market properties effectively. Although market conditions play a role, a skilled agent often negotiates closer to the asking price. -
What specific marketing systems and approaches will you use to sell my property?
In addition, you want an agent who goes beyond simply placing a for sale sign at your property. Look for someone with innovative and aggressive marketing strategies who leverages online tools to reach potential buyers quickly. -
Will you represent me exclusively, or will you represent both the buyer and the seller in the transaction?
Similarly, it is important to clarify the agency relationship. An agent should clearly explain their role and describe the rights of each party involved in the transaction. -
Can you recommend service providers who can assist with obtaining a mortgage, making repairs, and other necessary tasks?
Furthermore, since REALTORS® are well-connected in the industry, they can be excellent resources for finding reliable service providers. They should offer several recommendations and disclose any special relationships. -
What type of support and supervision does your brokerage office provide?
Also, ask about the resources available to the agent, such as in-house support staff, access to a real estate attorney, and technological assistance. These factors can significantly impact their effectiveness and availability. -
What is your business philosophy?
Additionally, this question helps you understand what drives the agent. Their response will indicate whether their values and goals align with your own. -
How will you keep me informed about the progress of my transaction, and how frequently?
Moreover, communication is key. Determine whether you prefer updates via phone, email, or in-person meetings, and ensure the agent can meet your expectations. - Who pays for your services and how much does it cost?
The agent will provide sellers with a listing agreement and buyers with a buyer exclusive agency agreement that outlines the services and associated fees. -
Could you please provide the names and phone numbers of your three most recent clients?
Finally, contacting recent clients will give you insight into the agent’s performance, communication style, and overall professionalism.
Final Thoughts
In conclusion, when selecting a real estate agent, make sure you choose a REALTOR® who provides top-notch service and aligns with your unique needs. By asking these detailed questions, you can confidently assess their expertise and ensure a successful buying or selling experience.
For expert guidance, contact Taylor Real Estate Specialists today at 765.362.4123 to schedule an interview with one of our brokers.
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