1.
Are you a full-time professional Realtor®? How
long have you worked full time in real estate? What professional
designations do you have?
Knowing whether or
not your Realtor® practices real
estate on a full-time basis can give you a piece of the puzzle
in foreseeing scheduling conflicts and, overall, his or her
commitment to your transaction. As with any profession, the
number of years a person has been in the business does not
necessarily reflect the level of service you can expect, but
it is a good starting point for your discussion. The same
issue can apply to professional designations.
2. Do you have
a personal assistant, team, or staff to handle different parts
of the sales transaction? What are their names and how will
each of them help me in my transaction? How do I communicate
with them?
It is not uncommon
for high real estate sales producers to hire people to work for them or
with them. They typically work on a referral basis, and, as their businesses
grow, they must be able to deliver the same or higher quality service
to more clients.
You may
want to be clear about who on the team will take part in your
transaction, and what role each person will play. You may
even want to meet the other team members before you decide
to work with the team overall. If you needed help with a certain
part of your home sale, who should you talk to and how would
you communicate? If you have a question about fees on your
closing statement, who would handle that? Who will show up
to your closing? These are just a few of the many important
considerations in working with a team.
3. Do you and/or
your company each have a website that will provide me with
useful information for research, services, and how you work
with buyers? Can I have those Web addresses now?
Many homebuyers prefer
to search online for homes and home buying information. There
are certain privacy and comfort levels that you might appreciate
in starting a preliminary search this way, and often it is
just a matter of convenience, having 24-hour access to information.
By searching the Realtor®'s and the company's Web sites,
you will get a clear picture of how much work you would be
able to accomplish online, and whether or not that suits your
preferences.
4. How will you
keep in contact with me during the buying process, and how
often?
It's a good idea for
you to set your expectations reasonably in accordance with
how your Realtor® conducts business. You may be looking
for an agent to call, fax, or email you every days to tell
you about prospective buyers who have seen your home. On the
other hand, your Realtor® may have access to systems that
will notify you automatically each time a new visitor tours
your home (which could happen several times a day or several
times a week). Asking this extra question can help you to
reconcile your needs with your Realtor®'s systems, which
makes for a far more satisfying relationship.
5. Can you explain
one thing that you do that other agents don't do that ensures
I'm getting top dollar for my property? What is your average
market time versus other agents' average market time?
Marketing skills are
learned, and sometimes a real estate professional's unique
method of research and delivery make the difference between
whether or not a property sells quickly. For example, an agent
might research the demographics of your neighborhood and present
to you a target market list for direct marketing purposes.
6. Will you give
me names of past clients who will give references for you?
Interviewing a Realtor®
to help you buy a home can be very similar to interviewing
someone to work in your office. Contacting a Realtor®'s
references can be a reliable way for you to understand how
he or she works, and whether or not this style is compatible
with your own.
7. Do you have
a performance guarantee? If I am not satisfied with your performance,
can I terminate our listing agreement?
Understand that, especially
in the heavily regulated world of real estate, it can be increasingly
difficult for a Realtor® to offer a performance guarantee.
Sometimes you may find a Realtor® who is willing to guarantee
that if you are dissatisfied in any way with their service
they will terminate your listing agreement. If your Realtor®
does not have a performance guarantee available in writing,
it is not an indication that he or she is not committed to
perform. Realtors® at Keller Williams® Realty understand
the importance of win-win business relationships, and that
the Realtor® does not benefit if the client does not also
benefit.
8.
How will you get paid? How are your fees structured? May I
have that in writing?
This is an issue that
can also be related to agency. In many areas, the seller still
customarily pays all Realtor® commissions through the
listing broker. Sometimes, Realtors® will have other small
fees, such as administrative or special service fees, that
are charged to clients, regardless of whether they are buying
or selling. Be aware of the big picture before you sign any
agreements. Ask for an estimate of costs from any agent you
contemplate employing.
9.
How would you develop pricing and marketing strategies for
our home? Will you commit to the marketing strategy in writing?
Pricing a home correctly
is the single most important factor in determining if a home
sells quickly, or at all. Although location and condition
also effect the selling process, price is a primary factor.
Access to all current property information is essential, and
sometimes a pre-appraisal will help. Ask your agent where
he or she obtained the information to create the market analysis,
and whether your agent included For Sale By Owner homes, foreclosed
homes, and bank-owned sales in that list.
10.
What will you do and what will you not do to sell my home?
Who determines where and when my home is marketed/ promoted?
Who pays for your advertising?
Ask your
real estate agent to present to you a clear marketing and advertising budget,
and how those dollars will be spent. Ask if there are other forms of advertisement/
marketing media that are also available but not mentioned in the budget/plan,
and who pays for those. Request samples of the various media that your agent
proposes (such as Internet Web sites, print magazines, and local publications).