16 Questions You Should Ask An Agent Before Signing Anything
Whether you need to buy or sell a home, you would need an agent’s help. Real estate agents should have the knowledge, connections, marketing and negotiation skills, and expertise that would help you make the right decisions.
So before picking one, make sure that you interview them to determine if they can help you. Here are 16 questions you should ask agents before you hire them.
1. How long have you been in the real estate industry?
This doesn’t necessarily mean that the agent you’d pick should have a long time experience--everyone has to start somewhere. However, if they are just a few years into the business, they should have someone with experience that offer them guidance and advice.
2. Do you work full-time or part-time?
A full-time agent would be more accessible and ultimately, more serious about real estate as a whole.
3. Do have current listings in this area? If yes, how many do you have?
An agent with lots of listings in a certain area shows that they are knowledgeable in that location. They would be busy, but it just shows that they’re good at what they do and specialise in your suburb.
4. What is your fee and is it negotiable?
It doesn’t hurt to ask if the fee is negotiable, but keep in mind that if they accept a lower fee, you might end up paying for it later with the service. Price is what you pay - value is what you get.
5. Can you give me a list of references I could call?
Get references--past clients, bankers, mortgage lenders, solicitors, etc. That way, when the references have nothing but praises, you would be sure about the kind of service the agent could give you.
6. Can you walk me through the selling process?
This question will show an agent’s ability to explain things in a way you can understand, and if they would actually take the time to explain things to you.
7. Tell me about your business processes. How do you make things work?
This question would make the agent talk about their business. Through this, you can know how much they have invested to their business - that relates to giving your quality service. The more they invest in their own success, the more they would be able to commit to giving you good service.
8. Do you have a concrete marketing plan for selling homes?
For those selling their homes, this question is for you. This question will show how extensive an agent’s marketing plans are–how consistent they could be in selling your home. Look for consistency, persistence, and fresh ideas in their marketing plan.
9. How do you track the home listings (for sellers) or the home market (for buyers)? How often do you track them?
This is important to know. For buyers, it’s important for an agent to regularly update you with opportunities in the market. For sellers, agents help you price your home correctly and help you be updated with buyer activity. If an agent do not have ways to measure these important factors, it would be better if you consider hiring someone else.
10. Do you spend money in advertising?
Advertising in two aspects - your home and their own services. This question determines if the agent is committed to invest to have successful outcomes. Ask to see samples of ads for homes on their list, and ads they use for their services. Is it compelling? Does it make you want to hire them or buy a house? If not, move on to your other candidate.
11. Can you refer me to a reputable appraiser, lender, or real estate lawyer?
This would show how well-connected the agent is professionally. At some point in your buying or selling journey, you will need the services of a lender, appraiser, and lawyer. Active and diligent agents would be able to give you names on the spot.
12. Will you personally handle negotiations for us?
If the answer is no, move on to another agent. An agent would need to represent you and your interests to other agents and sellers or buyers. You would want an agent that is a good negotiator. A tip: next to this question, ask them about their personal experience on how their negotiation skills helped clients save money or how a deal came through with their help.
13. How often will I hear from you?
Agents should update their clients on any new information as soon as they get it.
They should be available via text, phone, email, or even social media. However, ask them the best communication line, and ask the times they are not available - agents need sleep, too.
14. Do you have a website?
If yes, make sure to visit the site. Does it look professional? Is it user-friendly? The look and ease of use of an agent’s website reflects on them and how they do business.
15. What will you want me to sign, if ever?
Go through the agreement with a fine-tooth comb. Make sure that you understand everything in the agreement. Read it twice or thrice if you have to.
16. Why should I hire you?
A big question - this should show you how persuasive the agent is. To see how well they pitch themselves and their services can give a glimpse of how well they could pitch for your interests.
Remember that hiring an agent is an essential part of your buying or selling journey, so make sure that you pick the right one. It may be tedious, but asking these questions would tremendously help you in picking the right agent. Like the old quote says, ‘it’s better to be safe than sorry.’ And if you want some advice about property investments or anything property related, please get in touch with me at 0402 909 727.
