Questions to ask a potential real estate agent
Though finding a good real estate agent may prove to be more difficult than originally expected, the time and effort expended in the search are well worth it. In the end it comes down to harmony of purpose. Specifically, you need to find an agent that has your best interests at heart and will work hard – not an agent doing the minimum to reap a hefty commission.
Certainly, the professional agent-seller relationship is a lot like dating. Well-intending family members, friends, and neighbors will recommend someone they know. The two parties meet to establish rapport and decide if the association will be a good fit, and ultimately enter into a binding contractual agreement.
Obviously, it is very important to be cautious during this process. It is not always advisable to work with a family member or close friend – as is often the case with the proverbial college roommate experience that ends badly – for predictable reasons. You and your agent will spend a lot of time together. The relationship needs to be established on solid ground with mutually beneficial expectations clearly spelled out in.
There will certainly come a time when you and your agent will be required to engage in frank conversation regarding emotion and money (especially in the midst of making a counter offer) and you have to be completely sure the agent is negotiating in your best interest. Ruining a family relationship or friendship over a home transaction would be tragic. There is nothing worse than letting a few thousand dollars come between family and/or friends and you.
Ideally, you want an experienced agent who is professionally above reproach, acts with the utmost ethics, knows the market and your neighborhood intimately, answers all of your questions candidly, sincerely addresses your concerns, and listens to and/or represents your point of view in all conversations.
The following contains a short list of questions to ask a potential real estate agent. Of course, the list is not exhaustive. No doubt, there are many other questions you can think of in your unique situation that will help you make a very informed decision.
1. In which neighborhoods are you especially familiar?
Optimally, you want an agent who knows the neighborhood you live in down to the specific type of house you want to sell, desirable local amenities, nearby schools and retail offerings, as well as any perceived property deficiencies (i.e. located close to a busy road). All of these factors are critical to establishing an appropriate sales price.
2. Are you equally competent working with sellers and buyers?
Ask the agent to be very frank when detailing their professional experience. Have they worked more with buyers or sellers, or has their client list been fairly balanced. Agents specializing in either end of the real estate transaction no doubt have different comfort levels, skills and competencies.
3. Will the bulk of our relationship be personal or shared?
Bottom line, you want to know whether the agent works in a team environment with multiple associates handling your transaction needs. If that is OK with you, fine. But, with the hefty commission you are no doubt paying, you should get the personal, attentive service you deserve and not be overly tended to by assistants, who may or may not be as optimally knowledgeable of your particular situation.
4. Is this your full time job?
Part-time agents are fine as long as you do not get neglected. You want an agent that answers your questions in a timely manner without unnecessary delay. You must convey the mandate that you are somewhat flexible with home-showing availability, but remember; you are compensating them handsomely to make reasonable showings at convenient times. You certainly need to understand the need to be temporarily inconvenienced, though not in a rash or unforeseen manner. Courtesy and communication are important to and critical in a good relationship.
5. Ask about the specific numbers.
How many home transactions have you been personally involved in in my neighborhood? How many buyers and how many sellers are you representing now? How many years of education and/or experience do you have? What training courses or seminars have you attended lately to maintain a high level of expertise?
6. Ultimately, it is all in the referrals and/or references.
Ask your agent to provide you with names and numbers of former and current clients who have agreed to be “unbiased” references? Are there obvious family and/or friend connections to the clients or are the past and current relationships uncompromisingly professional, and working with the agent would be advantageous for you. Seek out candor and honest feedback above all else. No doubt, you should be astute enough to separate the proverbial facts from fiction.