Questions to Ask When Choosing a Real Estate
Practitioner
1. How long have you been in residential real
estate sales? Is it your full-time job? (While experience is no
guarantee of skill, real estate, like many other professions, is
mostly learned on the job.)
2. Are you a REALTORÆÊ
? (Members of the National Association of REALTORSÆÊ
, a trade organization of more than 000,000 members
nationwide, subscribe to a stringent code of ethics that helps
guarantee the highest level of service and integrity.)
3. What designations do you hold? (Designations
such as GRI and CRS, which require that agents take additional,
specialized real estate training, are held by only about one-quarter
of real estate practitioners.)
4. How many homes did you and your company sell
last year?
5. How many days did it take you to sell the
average home? How did that compare to the overall market?
6. How close to the initial asking prices of the
homes you sold were the final sale prices?
7. What types of specific marketing systems and
approaches will you use to sell my home? (Look for someone who has
aggressive, innovative approaches, not just someone who’s going to
put a sign in the yard and hope for the best.)
8. Will you represent me exclusively, or will you
represent both the buyer and the seller in the transaction? (While
it’s usually legal to represent both parties in a transaction, it’s
important to understand where the agent’s obligations lie. A good
agent will explain the agency relationship to you and describe the
rights of each party. It’s also possible to insist that the agent
represent you exclusively.)
9. Can you recommend service providers who can
assist me in obtaining a mortgage, making repairs on my home, and
other things I need done? (Keep in mind here that agents should
generally recommend more than one provider and should tell you if
they receive any compensation from any provider.)
10. What type of support and supervision does your
brokerage office provide to you? (Having resources such as in-house
support staff, access to a real estate attorney, or assistance with
technology can help an agent sell your home.)
11. What’s your business philosophy? (While
there’s no right answer to this question, the response will help you
assess what’s important to the agent—fast sales, service, etc.—and
determine how closely the agent’s goals and business emphasis mesh
with your own.)
12. How will you keep me informed about the
progress of my transaction? How frequently? Using what media?
(Again, this is not a question with a correct answer, but that one
reflects your desires. Do you want updates twice a week or don’t
want to be bothered unless there’s a hot prospect? Do you prefer
phone, e-mail, or a personal visit?)
13. Could you please give me the names and phone
numbers of your three most recent clients?