Whether you plan on buying a house or selling one, a real estate agent will be helpful here. This guide will go over the ten questions you can ask them before you bring them on board. Finding one will be a challenge.
That is why guides like this exist. To help you make it easier for you to find an agent that will go to work for you to make sure you get the best deal. According to Teifke Real Estate, finding one that specializes in your unique situation (like buying or selling) is a great place to start. Let’s take a look now at the following questions below.
How long have they been in real estate?
Experience matters when it comes to finding a real estate agent. That’s why you’ll want to ask them how long they have been in business. The more experience they have, the better.
Plus, they’ll have an understanding of the process inside and out. They’ve done it all and seen it all from the quick deals to the ones that were so close, but someone backed out at the last minute. So they’ll have the ability to help you buy or sell the house without running into any issues.
What is their specialty?
Are they specialists in selling homes? Or are they real estate agents that work with buyers only? Some real estate agents will work with both.
However, if you want to work with someone who works with a specific group of people, then find that special agent. For example, if you are selling a home, find a seller’s agent. That way, they are familiar with the process and will help you prepare for every stage of it.
What is their most recent transaction?
It’s always a good idea to find out what their most recent transaction is. How much did the house sell for? Did the buyer get the deal that they wanted?
If they have sold a house recently, that’s a good sign. If it’s been a long time since they last closed a deal, this might be a red flag. This could mean that they may be struggling with clients and closing the deal with them.
You want someone who is consistent and regularly closes deals with buyers or sellers. That way, you can buy or sell the home quickly rather than play the waiting game.
What are their forms of communication?
Communication is so important. Especially when the process of buying or selling a home is ongoing. It may be a good idea to ask a real estate agent what their regular forms of communication are.
Talking to them by phone or email will be your best options. Consistent communication will be key. If you have questions, they will be able to respond to them within 24 hours.
If they are hard to reach, then that is a major red flag. You want a real estate agent that is available during normal business hours (or in case of emergencies).
Do you have any client testimonials?
Social proof will give you a glimpse into the kind of real estate agent you might be working with. A real estate agent that is proud of their work will show their client testimonials with you. You’ll hear various stories about people who have worked with this agent in the past.
You may know some of these clients personally. If that is the case, don’t forget to ask questions. Get answers directly from the source.
From there, you’ll be able to make a decision whether that real estate agent will be a good fit for you.
Have you helped buyers find a place at a specific price range?
Home buyers are often looking to buy a place at a certain price point. That’s why you should ask a real estate agent whether they have helped people purchase a home at that price range. If they have said yes, ask for proof.
Once you get confirmation, you can then make the move to ask more questions. It’s a good sign if they have consistently sold homes at the price point that you want.
Will this be an individual effort or with a team?
An agent and a buyer or seller must be wondering if the agent will work closely with them as an individual. If this is going to be a team effort, it may raise a few red flags. Especially when you’ll be dealing with different people.
A one-on-one relationship between the agent and a client will be even better. It’s understandable that a real estate agent may be dealing with other clients. But it’s even better when you have someone that will work with you closely from start to finish.
How does your commission system work?
Real estate agents will be paid via commission for every sale. So it may be a good idea to ask how much they get paid. Buyers will not pay a commission fee as that is the responsibility of the seller.
On average, a real estate agent may be paid anywhere from 5 to 7 percent of the home’s sale price. Anything higher and that might be a red flag (or a sign to move on to someone else). Make sure that the real estate agent is out for your best interest and not for the purpose of money.
Have you helped people buy homes in a specific area?
You may have a specific neighborhood or city in mind. You can ask a real estate agent if they have helped clients buy homes there. If they answer yes, ask them questions about the neighborhood.
Also, ask them for proof on the houses they have helped with in that specific area. This way, you’ll know for sure that they can do the same for you.
Who are your references that we can contact?
Having additional references will make your decision to find a real estate agent helpful. A real estate agent will be more than happy to share with you a few references that you can get in contact with.
These can include past clients, contractors, and even loan officers. If you hear a pattern of good things about this real estate agent, you just might be on the right track.