Asking the Right Questions – Interviewing Your Real Estate Agent: Part 1

We cannot be experts in everything. If we need information about things, we should be getting them from the experts, and very often they are the people who specialize in their field and working full time on it each day, earning a living as their skills grow. This is also the way that it is for real estate, which is why you probably need an agent to help you when you go house hunting for any reason at all. However, before you put all your hopes on one agent, you should interview the agent to get some answers to know whether he or she is a suitable agent for you.

Experience

The first question you would probably like to ask your real estate agent is how much experience he has in this profession. True, this is not fair to new real estate agents who just entered the job, and actually there is nothing wrong about a new agent. In fact, if everyone is looking for an experienced agent, there will not be any chance for new recruitments. A competent agency will actually train the agents before releasing them into the market. In fact, some experienced agent may actually be more careless than the fresh ones. However, if you have no experience ever in real estate, you will want a more seasoned agent to help you.

Why would we need the experience? Not about looking for the neighbourhood, but it is about the average list-price-to-sales-price ratio. If you are a seller, you will want to sell your property at a good price instead of giving out discounts just to get rid of the property. If you are a buyer, well, the other way applies. This is where the experience will come in handy.

Plan

Ask your agent, what plan does he have for you. As a buyer, there are many times where the agent will just show you whatever properties he has in his list which is within the budget you provide, hoping to strike the right one. A good agent, however, will strategize for you to help you choose the right property. The agent will take into consideration the proximity of your office or your child’s school from home, the type of facilities that you can get and what kind of environment do you want to be in.

If you are a seller, your agent should let you know the marketing outlets he is going to approach in order to sell your house. Is he going to advertise online or in the newspapers? How many people had responded to similar advertisements based on the strategy which he was proposing? How many potential buyers are there in his list? Ask for the details of how he is going to sell your house for you, see whether he can identify the selling points and able to convey them clearly. This is important, because his words will be one of the advertising channels that will help you promote your property for sale.

Do stay tuned for Part 2 of Asking the Right Questions – Interviewing Your Real Estate Agent

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