In today’s complex real estate market, you need to surround yourself with the best expertise available to ensure the best possible outcome of your real estate transaction. A competent licensed real estate agent is a must.
Ask some key important questions before you engage them to work with you to gain some insight on whether the agent fully understands your objectives and has the experience and knowledge needed to assure you success in reaching your real estate goals.
Here are some important questions to ask your proposed real estate agent:
What is your experience as a real estate professional?
This will give you some insight into their background and level of experience. Keep in mind that some agents with many years’ experiences may lack the familiarity or level of experience in the market you where are preparing to sell or buy.
What would you propose as a marketing strategy for my property?
For the agent to answer to this question you will need to share your long-term goals and plans. Then, ask how they will help you to achieve those goals.
What is your average listed versus sold price ratio?
You will want an agent who demonstrates they have the skills and experience to negotiate the best terms and price for your transaction, whether you are buying, selling or both.
Please provide me with references
A successful real estate agent should have a list of happy customers that they will want to share with you. You should get a minimum of 3 customer reviews or references before you hire an agent. For an agent with just a few years’ experience, it can be quite easy to provide you with three glowing reviews. To be sure, do some additional checking on the internet.
Do most of your contracts close?
Ask about their closing success rate. Several contracts that fell apart before closing can be warning sign that the agent is not good at negotiating changes that may occur before closing. Frequently there is need for adjustment to the contract terms or price before closing. Sometimes the buyer’s lender needs an adjustment to the closing date, or the inspection discovers something in need of repair or if the property does not appraise for the purchase price. If such occurrences as these are not handled deftly, the contract may never reach closing.
Do you provide me with all the documents required by this process to review? Also, what would an agreement between you and me look like?
A professional agent will have all agreements and documents available for you to review before you sign any of them. The agent should also take the time to review all documents with you and answer any of your questions.