5 Questions to Ask Before Hiring Any Real Estate Agent
Posted by Lisa Udy on Thursday, January 6th, 2011 at 11:41am.Whether buying or selling a home, finding the right real estate agent to assist with the process is essential. After all, buying a home is a significant investment. Similarly, for those who are selling their home, getting as much out of the home is essential, particularly for those who still owe on their mortgage loan.
Unfortunately, selecting a real estate agent can be a difficult and overwhelming process. This is particularly true for those who have never purchased a home before, as they may not know what types of questions to ask when interviewing potential agents. The good news is that narrowing down options can be made far easier by asking these five simple questions.
Question #1: Are You a Full Time Agent
Many people are surprised to learn that many real estate agents do not work on a full-time basis. If you are simply looking for a buyer’s agent, someone who works on a part-time basis may suffice. If you are trying to sell your home, on the other hand, it is important to hire someone who will be able to provide your home the full attention it needs. From developing and implementing a marketing plan to showing a home to potential buyers, getting home sold is a full time job. Period.
Question #2: How Long Have You Been In Business?
Whole it is possible for an agent with relatively little experience to do a fine job, these agents are few and far between. In general, real estate agents start out their careers as leasing agents. Then, they work their way up to being buyers agents before they become listing agents. By taking these steps toward becoming a listing agent, the agent becomes more familiar with the real estate business while also forging relationships with other professionals in the area. For these reasons and more, it is always a good idea to go with someone who has plenty of experience under his or her belt.
Question #3: How Many Transactions Did You Complete Last Year?
Many agents will brag about their “sold volume,” but learning more about the number of transactions the agent completed will provide a better picture of how good he or she is with getting homes sold. After all, depending upon the market an agent who brags about completing $1 million in sales may have only sold one or two homes throughout the entire year. Therefore, it is essential to find out how many homes the agent actually sold rather than the dollar figures.
Question #4: What Can You Tell Me About the Neighborhood?
Asking the agent about the neighborhood serves two purposes. For those who are buying a home, it gives them a better idea of what the neighborhood has to offer. Not only does this help the buyer better determine if the neighborhood is a good fit, but working with an agent who is knowledgeable about the neighborhood will help make the entire process run more smoothly.
For those who are selling a home, working with an agent who is familiar with the neighborhood will almost certainly help to get the home sold more quickly and at the price desired. After all, an agent who is familiar with the neighborhood will know how to develop the best marketing plans and will already have the network in place to get the home sold.
Question #5: What is Your Process?
By asking the agent to describe his or her process, you will be able to better determine if the agent will be able to meet your individual needs. Furthermore, the best agents will have a clear and proven plan for getting your home sold. Those who cannot describe their plan clearly should be avoided.
About the Author: Eric Bramlett is the broker & co-owner of One Source Realty, a boutique Central Austin real estate brokerage. Eric specializes in central & west Austin.
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