Buying or selling a home is often one of the largest transactions and biggest financial decisions you will make during your lifetime. When hiring a realtor, you want to ensure they have the experience, skills, and market knowledge to help you buy or sell a home effectively. Here are some key questions to ask.
- How much experience do you have? Find out how many years they have personally been a licensed real estate agent. This specifically involves the time they’ve spent in real estate sales helping clients buy and sell homes. This is not the accumulated time of their team members, or the time of the team member longest in business.
- How many homes do you sell in a year? Ask them how many homes they personally sell in a year. This should not include the total amount their team sells. If they only sell a few homes a year, they may not have a keen understanding of current housing market conditions, the competition facing buyers and sellers, and negotiating offers.
- Do you specialize in buyers, sellers, or both? If you are looking to list your home, you will want a realtor who sells a lot of homes a year and has a comprehensive listing system. If you are looking to buy a home, you will want a realtor who helps a lot of buyers and knows how to write winning offers. If you are selling and buying, you can find a realtor who has a balance of both.
- How often will we communicate and by what method? Ask them how often they will update you on the progress of your home sale/purchase transaction. Find out if they email, call, or text. If you have a preferred method of communication, will they use that method to communicate with you?
- Will anyone else be communicating with me during the process? Some realtors have transaction coordinators or other administrative staff that take over once a client is under contract. Ask if anyone else will be communicating with you during the transaction, who they are, and how they will communicate.
- What is your availability to answer questions, meet with me, conduct showings, etc.? Some realtors work part time and are only reachable during certain hours. Some do not work certain days, like Sundays, or certain evenings due to other commitments. Find out if their schedule will coordinate with yours.
- Do you have any limitations that may affect your service to me as your client? No one can work 24/7, but a realtor could have an upcoming extended vacation, a scheduled surgery, or other plans that make them unavailable. If so, do they have sufficient coverage for while they are out so that your transaction is not affected?
- What specialized services do you offer to me as a buyer? Ask what services they provide to a home buyer. This could include a free consultation with informative materials, recommendations for a trusted lender and other vendors, property search, home tours, and expert negotiations. This would also include any special certifications they hold.
- What specialized services do you offer to me as a seller? Ask what services they provide to a home seller. This could include a market analysis, professional photography and videography, marketing materials and advertisements, recommendations of trusted vendors, and expert negotiations. This would also include any special certifications they hold.
- What are your commission rates and broker fees? Commission rates and fees are negotiable. These costs should be discussed upfront along with the services offered by the realtor. Make sure you understand not only the fees, but the reflected services and what is provided to you.
- What is the length of the contract if I sign with you? The realtor should explain all of the required documents at the first meeting, including the listing contract and/or buyer agency. The contracts detail the commission, fees, and length of time the contract is in place.
- Can you provide references from past clients? First, check the realtor’s online reviews. If you would like to speak to someone personally, you can ask the realtor for a reference from a past client. Make sure it is a buyer if you are a buyer, or a seller if you are a seller.
Not all realtors are professional, personable, and competent. Just because someone knows how to write a contract doesn’t mean they make a good realtor. Not only should they have a wealth of experience and knowledge, they should offer five-star customer service and consistent communication. Since you’ll be spending a lot of time with your realtor, you should like and trust them as well!