Questions To Ask Before You Hire A Realtor2017-07-02 22:13:03 Posted By Amir Hamzehali
Nearly all homebuyers use a realtor to sell their home. Real estate agents have lot of inside knowledge about the market and about neighbourhood trends, the tools to market your home and the ability to negotiate.
While the benefits of hiring a realtor are well-known, not all real estate agencies are created equal. There are a lot of real estate agents to choose from and a lot of variability in their skillset. The key is to find the right one.
Buying a house will be one of the biggest transactions in your lifetime, so it is important that you do your research.
A good place to start is by reading online reviews of your realtor to get an idea of others’ experiences.
But, you also want to take it a step further than that. By this, we mean asking the right questions - the kind of questions that will separate an average realtor from the pros.
Yes, technically this is a two-in-one question but it isn’t a hard hitter. That said, it’s still an important one to ask.
Ultimately, the answers to this question provide a foundation from which to work with. Sure, these questions aren’t going to be what sets him or her apart from the rest (those questions will come later) but this question will provide a solid starting point.
In general, chances are that a seasoned professional will have learned a few things over the years, meaning that more experience is typically a good thing. However, that isn’t to say that fresh talent shouldn’t considered.
If the fresh talent has the numbers backing them up, that realtor may be the winner.
If your real estate agent has some additional credentials or certifications or other training, consider this another point in their favour.
If you’re not yet convinced as to why you need a real estate agent, read here.
Now we’re getting to the meat - the questions that will reveal a bit more about the real estate agent’s performance in the industry. Start with what’s your average list-price-to-sales-price-ratio?
You want to sell your house for as close to the asking price as possible - in fact, this may be one of the leading goals of the entire operation. Look for a ratio that’s close to 100 percent.
You also want to ask how long, on average, their listings tend to stay on the market.
Ultimately this is a roundabout way of inquiring about the real estate agent’s performance and expertise. The key is that it is a really pointed question and allows you to evaluate how successful they are at what they do, which will give you a better idea of how successful they will be at selling your home.
Just because a real estate agent has ten years of experience in the industry doesn’t always mean that it translates to actual success. Remember, you want a pro, so the key is to ask pointed questions that really do the talking. Do they have any awards?
Any time you can ask your realtor to provide concrete numbers or concrete things, you are getting a better idea at how good they are at what they do.
Here are some signs you have a great real estate agent.
The realtor’s ability to market your home is a large part of what is going to get it to sell.
Here you want your realtor to illustrate that they have a strong marketing plan when it comes to promoting your home. How many photos do they take? Do they use professional photographers? Home staging? Ultimately, a mix of both offline and online approaches should be used, promoting and advertising on professional networks and websites.
Be frank with your realtor. Ask them what they can offer you over others - what does the realtor do differently over everyone else? What separates them?
In general, consumers are looking for real estate agents that are trustworthy, great negotiators and good communicators.
If your real estate has a solid answer, then they may have just closed the deal. If not, you might want to reevaluate.
Also take time to examine how the realtor has interacted with you so far. Has he not gotten back to that email you sent him a week ago? These seemingly small details can tell a lot about how the realtor will be once you hire him or her.
Here are some other tips for hiring a realtor.
Amir Hamzehali is now the number one real estate agent in British Columbia, specializing in luxury real estate in West Vancouver. Closing $400 million in the past three years, Amir and his team excel at what they do.