Questions when hiring a real estate agent
- Jun 13, 2020
- 4 min read
Updated: Mar 7, 2021
There are key questions to check with your real estate agent. Data points are important. And, of course, is the comfort factor - do you feel you can work with this person, more subjective data points, such as:
Do I feel like I can work with this person? No different than when choosing a doctor, dentist or contractor, does this seem like a person that fits my needs?
Will this person take as much stress out of the process as possible? Most buying and selling of real estate is full of dominoes, and a great agent smooths the ride and can even make the process fun; and at least fulfilling.
Some other key questions:
1. How long have you been a full time real estate agent?
There are two parts to this - is your agent full time? What does full time mean to them? What does it mean to you? You likely don't want a stressed out agent juggling priorities and working an 80hr week, and yet also won't be happy with an agent who is juggling life or other work priorities. On the AllstarPowerhouse team, agents are committed to real estate full time, and are encouraged to have a healthy work-life balance. A happy agent who has interests outside of real estate is someone who is more likely to be able to serve you at a higher level. Meet the team at https://www.mountainhomehunt.com/agents/
2. How many homes do you close each year?
Make sure that you know whether this is for the individual or the team or firm. An agent may have had an amazing year - is that backed by previous years and experience of a different market? Real estate is all about here and now - the point at which we are in of the economic cycle is key here. For more on this, check out Clement Juglar's interpretation of the economic cycle at this link. https://www.facebook.com/watch/?v=476739376453651
For example, an agent who had an amazing year in 2006, or 2019, may not be the agent for you in 2020 as we enter the declining market with longer days on market for homes above the $350,000 (average), or in 2021 as we expect a further decline down to the trough in 2023-2026. The decline generally hides at the higher priced homes, ask your agent for data on this when you are preparing to list - higher priced homes sitting longer and selling for less have a domino effect on homes all the way down the scale. For more on this - watch the video above on the economic cycle, that has held true in the main since 1860. Look for an agent that has had success across peaks and troughs in the cycle if you want that assurance. Another factor in this question, is how many contracts make it to closing - in other words, how many contracts fall out before closing? Two key factors in this is the inspection and the appraisal; when selling, check out the Certified Pre-Owned approach at www.CPOexperts.com - a program run nationwide by AllstarPowerhouse.
3. Who will be the primary point of contact?
This is a question around whether you are dealing with an individual agent or a team approach. Both have their pros and cons. A successful individual agent is not going to be available much of the time, as they are out with clients, however, they are always your point of contact. A successful agent on a team has back up - you can most often reach someone with your questions or suggestions when you need to.
4. What qualities or certifications set you apart from other agents?
At AllstarPowerhouse, we run a series of consumer-benefit programs from our best selling book on selling homes. You can view these at www.AllstarCertifiedPrograms.com
5. How will you help sell a home in a competitive market?
See (4.) The programs from the best selling book on selling homes were developed as an answer to customer issues that arose when Ro started working in 2007, the year that real estate took a large dip during the banking fiasco. Each one addresses a problem before it arises, and has buyers and sellers entering the process 'eyes wide open'. The weekly broadcast is educational, and addresses today's process in real estate - as it happens. www.RealEstateNewsRadio.com
6. What’s your commission fee?
Each firm sets their own commission fees.
7. Do I have a sign a contract with you, and can I cancel without a penalty?
Contracts have a term limit in real estate - always discuss the timeframe with your agent depending on your needs and circumstance.
8. How will you communicate with me?
At AllstarPowerhouse, we base our communication on how YOU like to communicate. Sometimes, things have to be reduced to writing, usually by email; however should you prefer day-to-day communication by phone, text, social messaging, zoom calls, this is what we will follow. After all, it's about you and your preferences.
9. How do you set realistic expectations for your clients?
It's key to understand the process at a step by step level, and then for your agent to break that process down into a series of dominoes, and then to 'hold your hand' through each of those dominoes, clearly explaining what is happening, and who is involved in that step.
10. Who can I contact for a reference?
Check out our reviews
Ready to discuss the listing process? Give us a call at 828 333 4483, or contact us at this link
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