As clients begin their real estate agent search process, they often have questions that can help them choose an agent who fits best.
Asking an agent how they assess whether homes are appropriately priced can give an insight into their negotiating skills and knowledge of current market trends. Their answer should include data such as comparable sold properties and market-wide trends.
1. How long have you been in business?
Asking the appropriate questions can help you eliminate real estate agents who do not meet the necessary qualifications or experience requirements, saving both time and money by narrowing your options.
Real estate agents with more experience are better equipped to deal with various situations and avoid potential hiccups, ensuring an easier transaction for all involved parties. This may help ensure an uninterrupted transaction.
Experience is just one factor to keep in mind when selecting an agent; also take note of how many homes the agent typically closes each year. An agent with too few closings may lack the skills needed to help you find your dream home, while one with too many clients may not devote enough time and attention to you and your needs. Ideally, look for one who specializes in either selling or purchasing homes.
2. What is your fee structure?
Real estate agent fees are an integral component of their selection process when looking for representation, as buyers want to ensure they are fair and transparent. Therefore, agents should explain their fee structures clearly from the outset in order to avoid confusion, misunderstanding or disagreement in the future.
Considerations in selecting an optimal commission structure include factors like how much back office support an agent receives (i.e. transaction coordinators and admins) as well as time spent generating leads. Team models might require higher team fees or commission splits in order to offset additional administrative staff and marketing expenses.
Franchise fees should also be taken into consideration, as they will typically come out of your gross commission before broker/agent splits are calculated.
3. How will you communicate with me?
No single answer exists when it comes to answering this question; each real estate agent has unique communication preferences and styles. That being said, many agents state their priority is responsive and proactive communication with clients during all steps of home purchasing or selling processes.
At your initial meeting, be sure to inquire as to their preferred form of communication (emails, phone calls or texts) as well as frequency of check-ins with their clients. These details will allow you to assess whether working together would be viable.
Be sure to discuss your own communication preferences as well, such as if you prefer direct eye contact or not. Discussing this early will avoid confusion down the road and ensure your agent fully comprehends your needs and wants for home searching – making your experience much smoother overall.
4. How many homes have you helped buyers successfully close on?
Buyers typically have plenty of questions when starting the real estate journey, from how much a home will cost them to what to expect at closing. An agent should be able to address these inquiries with confidence.
Be ready to provide information about your background and expertise within the area, which can help build trust among clients while setting yourself apart from competitors.
Your work history section on a resume is an ideal place to showcase your achievements, with this section typically consisting of achievements such as number of homes sold or total sales value of properties sold – this demonstrates your ability to reach sales targets while adding value for customers, as well as demonstrate proficiency with various industry tools like MLS software or virtual tour applications.
5. Do you have a marketing plan?
Real estate agents who employ effective marketing strategies will use various platforms and channels – including social media, video blogging platforms like Vimeo or BlogSpot, email and direct mail marketing and traditional methods – in order to reach their target market and attract potential clients.
An effective marketing plan will identify your strengths, weaknesses, and opportunities. For instance, if one of your company’s core strengths lies in helping second homebuyers secure financing, you could showcase this aspect and market it.
Staying relevant requires prioritizing staying informed on real estate trends and news in your market. Make it a habit of reading real estate blogs like KCM for industry insights and property data updates, providing your clients with invaluable advice while simultaneously building trusted professional relationships. A real estate CRM will play an essential part in managing these relationships for success.
6. What is your average days on the market?
Know the average days on market in your area before purchasing or selling real estate is key to successful transactions. This statistic is calculated by counting how long a property has been listed on MLS until it goes under contract; as this metric varies wildly across markets, work with an agent who understands your local real estate landscape to ensure success.
An extended Days On Market (DOM) could signal to buyers that your home is overpriced or not well maintained, or it may signal the need to adjust your marketing strategy or lower your asking price. Your agent should be able to provide this data; or search online for MLS statistics in your area for this data.
7. How will you market my home?
As part of today’s competitive housing market, it is vital to ask how a real estate agent plans on marketing your home. A reliable agent should use their experience and expertise to help set you apart from competitors.
Agents use various professional networks and online marketing tools – including Zillow, social media sites like Facebook and local listings – to promote your home.
One effective strategy they use when marketing a home is by emphasizing its unique features and characteristics, such as neighborhood amenities like schools, restaurants, and parks.
If you’re selling your home, an experienced real estate agent should also provide a Comparative Market Analysis (CMA), to help determine its value and devise a strategy to sell it quickly.
8. What is your pricing strategy?
Pricing strategy is of utmost importance when selling property. There are various pricing strategies available depending on market conditions and your goals as a seller; for instance, if the market is hot and your home offers unique upgrades that set it apart from similar properties in its area, setting an underprice can increase offers significantly.
Absorption pricing and value range pricing can both be effective home pricing strategies; each can have their own advantages and disadvantages; finding one that’s tailored specifically to a seller will make all the difference for a successful sale. Be sure to discuss these strategies with them so they can determine which approach will work best in their particular situation.
9. How do you plan on marketing to my target buyers?
One of the best ways to market real estate is to become an authority in your niche. Doing this will allow you to attract qualified leads while setting yourself apart from other agents in your area.
Marketing real estate effectively with a website can also help. By having one, you’re able to show off listing photos and write informative blog posts – as well as sharing testimonials from satisfied clients!
Marketing real estate presents numerous options; however, to ensure a reputable agent and maximize potential buyer exposure. By asking these pertinent questions of agents that represent you, it will enable you to feel assured that your home will be adequately promoted while helping prevent any misunderstandings that might delay or derail the process.
10. How do you plan on marketing my home?
Real estate agents should devise a marketing plan for the homes of their clients. This may involve taking professional photos and staging assistance as well as listing them on MLS. Good agents also know how to set realistic expectations with their clients.
When your client wants to sell their home in a certain neighborhood but that isn’t possible in this market, it is crucial that they know early. An agent should never make bold claims that lead their clients down an unexpected path that leaves them disappointed at the end.
When searching for an agent to sell your home, ask about their average list-to-sales price ratio. This metric gives a good indication of their success at selling properties in the past and can help you decide whether or not they’re suitable. Good agents work tirelessly on getting you the best price.