What You Need To Ask Your Realtor
Everywhere you look there are advertisements for real estate agents. So how can you tell the good agents from the not so good agents? Here are 8 things you should ask your agent before you hire them. Good agents want you to ask these hard questions, because good agents can answer them.
1. Are you a Realtor?
Not all real estate agents are Realtors. Members of the National Association of Realtors have to adhere to a strict Code of Ethics and Professional Standards of Practice. So you can be assured that if your real estate agent is a Realtor, you are working with someone of integrity and accountability. Realtors are typically better prepared, better trained, and more committed to their profession. With the element of accountability, they have to be.
2. What certifications do you hold?
Nearly all certifications are designations of Realtors, not real estate agents. Certifications require advanced training and or experience in different areas. When you work with Realtors that hold designations, you are working with someone committed and dedicated to their profession and to their clients to be the best and most competent in their field.
3. Sellers, ask your Realtor... What is your personalized marketing plan for my property?
All good Realtors prepare marketing plans uniquely designed for the property they intend to list. The marketing plan can vary greatly depending on market conditions, condition of the property, and the motivation of the sellers themselves. Ask your Realtor for the marketing plan personalized to your property.
4. Sellers, ask your Realtor... What will your marketing budget be for my property?
It costs money to market a home effectively. Depending on the market conditions it can cost a lot. Any agent who is not prepared to give you a percentage or dollar amount they plan to spend on your home, should never be hired. Because what most sellers don't realize is that these expenses and costs are incurred by the agent not the company. So make them give you a written budget in conjunction with their marketing plan and hold them accountable to it.
5. Buyers, ask your Realtor... Do you plan to preview homes for us?
Good buyer's agents will have given their clients a written questionaire of their wants and needs in a home, then take that wish list with them to preview homes that will work for them. Otherwise, the buyer's agent is taking the lazy way, providing minimal service and showing you what they want you to see, not necessarily what you want to see. Previewing homes is time consuming and can be expensive, but it is what quality buyer agents do.
6. Can I call your Broker?
All real estate agents have a broker to supervise them and that are responsible for them. Todays real estate world is moving towards small office inexperienced brokers or mega-brokers. Some offices have hundreds of agents and they have little to no contact with their broker. Others operate from a very small office that has a broker with little experience or knowledge to assist their agents. Unfortunately it only requires a person to be a real estate agent 2 years to get a brokers license in this state. Ask your Realtor how long has your broker been in the business and if they have the experience and knowledge, and are available to support the agent and the transaction.
7. Can you provide testimonials?
Every good Realtor has a great appreciation and fondness for their past clients and are eager to share their names with you. So don't be surprised if at the end of your transaction, they'll ask you to be an advocate too.
8. What is your specialty?
Real estate agents typically categorize themselves as residential or commercial agents, which are vastly different and entirely separate disciplines. Some residential agents prefer to specialize in just buyers or just sellers. Ask your Realtor about their specialty.
Agents that like to specialize in listings have sophiscated marketing strategies, and will invest the money necessary in marketing your home successfully. Agents that like to specialize in buyers will invest a significant amount of their time previewing to find the perfect home for their buyers.