How to interview a real estate agent ep11

anthony patton

Buying a home is not the same as selling a home. The process is different, the feelings you experience are difference, and the emotions are different. Since buying a home is different than selling a home, it’s obvious that the qualities you should look for when hiring a real estate agent are going to be different as well.

Real estate agents who represent buyers are commonly known as a buyers agent. Real estate agents who represent sellers are commonly known as a listing agent. Knowing how to interview a Realtor when selling a home is extremely important and it is no different than selecting a real estate agent to serve as your buyers agent.

In most real estate markets there will be a much higher percentage of buyers agents than there will be listing agents. The 80/20 rule is also in effect with buyers agents just like it is with listing agents. If you are unfamiliar with the 80/20 rule, it’s simple. 80% of the buyers will be represented by 20% of the buyers agents in the market. In some communities, believe it or not, this ratio is even higher.

Whether it’s the first or tenth home youre buying, how do you know that you will be represented by Realtor who falls in the 20% group? There are no guarantees, however, by correctly interviewing Realtors when buying a home, you have a greater probability of hiring a great buyers agent.

We only work with the best expert advisers and we can help you with a few tips…

• Do you require a pre-qualification or pre-approval before looking at homes?

Financing is a very popular subject when buying a home, especially for the first time. When interviewing a buyers agent, this is a good question to consider asking. The responses that will be received will vary, however, a great real estate agent will answer this question with a resounding “yes.” It’s critical that when buying a home, a buyer gets pre-approved before looking at homes.

A buyers agent who shows dozens of houses before getting a buyer pre-approved (or at the very least, pre-qualified) is doing a huge disservice to that buyer. It’s important that a potential buyer has a strong grasp on the type of financing they qualify for and the amount they qualify for and bottom line, if they are able to purchase a home at that specific time. This can help eliminate disappointment, heartbreak, and also save a buyer lots of time!

We make sure you have an approval and in most cases give you a certified home buyer status to help you.

Real Estate Experience

• How long have you been a licensed real estate agent?

This question is one that cannot be missed. Experience in the real estate industry is important. The longer a real estate agent has been selling real estate, the more transactions they have likely completed. It’s not impossible, however, that a real estate agent who has been in the business for two or three years and has done enough transactions to fall into that 20% group!

• Is real estate your full-time career or a part-time job?

When buying a home, it can be a time consuming process. As a buyer you have a job, family, and other responsibilities. It’s important that your buyers agent is available when it’s convenient for you. A part-time real estate agent may not be able to offer enough availability to do so. If the best time to view potential homes is at 1:00PM on weekdays then that is when your buyers agent should setup the appointments. A part-timer may not be able to due to another job or responsibility.

Real Estate Track-Record

• How many homes did you sell as a buyers agent last year?

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