7 Questions to Ask Your REALTOR® Before Hiring Them
Not all REALTORS®, main focus is working for their clients. This is one of the reasons we came up with 7 questions to ask your REALTOR® before hiring them. Some real estate agents are focused on other business ventures. We are most proud of our REALTORS® and the community they have created in our office. How closely they work together, to sell your house and find you a new one – the right one!
Buying and selling your home is a big business and it pays to do some home work. Finding a real estate agent who focusing strictly on real estate and who knows his or her stuff will literally pay! An experienced real estate agent, with a track record, will go a long way to get you top dollar on your property sale, and the best deal on your purchase, but ONLY if they are focused on buying and selling real estate and your best interest.
Treat your vetting process like a job interview. Ask questions, and don’t settle until you’re satisfied with the answers.
Key Questions to Ask Your REALTOR® Before Hiring Them
1. What is your area of focus? There are all types of real estate brokerages these days. To ensure you know what you’re getting into, ask your real estate agent what their focus is. Start with asking the basic questions:
- Do you only buy and sell homes?
- Are you a recruiter to hire other agents?
- Does your brokerage work on a MLM system?
If you’re working with a RE/MAX REALTOR® you’ll know the area of focus will be similar to the list below:
- The city or neighbourhood.
- Type of property: condo or detached, recreational, luxury, investment, fixer-upper or brand new.
- They specialize in working with seller or buyers.
- Commercial and leases.
Just like in medicine, a general practitioner can probably handle a typical transaction, but there are specialists who may be better equipped to help you seal the deal.
2. Are you a full-time real estate agent? Someone dabbling in the business part-time to make some extra money might lack the knowledge and the time required to market and show your property, and to negotiate the best deal on your behalf. Some REALTORS® also recruits for their company, splitting their focus between real estate needs for their clients and recruiting other real estate agents for the brokerage.
3. How many other clients are you currently working with? If it’s a high number, question whether the agent will have the time to devote to you and your needs. On the flip-side, if the answer is zero, that could be a red flag that this particular agent may not have the experience or level of success that you’re looking for. You can also ask about their team. Some teams can work in your favour, depending on the structure.
4. Do you have references? Ask for a few names and numbers of past clients, and call them to help determine if the agent is worth the commission they charge. If you are a buyer, working with a REALTOR® doesn’t cost you.
5. How do you get paid? Seven per cent on the first one hundred thousand, three per cent on the remainder. Keep in mind, if a REALTOR® is cutting their rate, the agent may also fall short in the service department.
6. How will you market my home? That For Sale sign on the front lawn is great and all, but it just scratches the surface when it comes to selling strategies.
- Will the home be listed on the Multiple Listings System?
- What about social media marketing, like Facebook?
- Online virtual tours?
- Print advertising, like newspaper ads or flyers?
- Open houses?
The more eyes seeing your property for sale, the better!
7. What’s your sold-to-list-price ratio? This number will tell you how close the agent has come to asking price. Aim high on this one, folks!
A home is likely the most significant financial transaction you’ll make in your lifetime. Finding the right real estate agent will go a long way to making it a smooth and successful one.
Find out what your home may be worth in today’s market.
If you require specific information on property values please contact one of our REALTORS® or call (250) 751-1223.
Original Source: blog.remax.ca