Sorting through the hundreds of realtors to find the right one could be overwhelming. Not only is it overwhelming, what should I look for or ask? What is the best approach to finding a qualified Realtor that provides exceptional service works hard to produce the best results in the sale of my property?
How to interview for a realtor:
Make a small list of local area experts: They have been working the area for several years and have several closed deals in the area. They send you mail every month, door knock, and drop flyers at your door. You can search about them online and see that they are truly area experts by the transactions they have done in your local neighborhood. Local experts are hyper focused on your neighborhood. They are not only very keen on the value in the neighborhood they have a reputation that they will work hard to maintain.
Call the agents on your list: Be very focused on your questions. Hello, I am Mary and I live on 35th street. I am thinking about selling and am asking a few local agents the same questions. Once I get through a few phone interviews I will meet a few for an in-person interview. Ask the same set of questions to each realtor. Why are you the area expert? Do you live in the area? What has made you successful in the area? Tell me about you and how you conduct your business? If I hire you, will it be you handling communications, open houses, etc, or will one of your associates be handling the daily activity?
Filter: Listen for genuine humility and avoid aggressive behaviors. Listen for the agent that understand that there are many great choices out there however they will work the hardest for you. Listen for positive and optimistic behaviors as apposed to someone selling you on fear of market conditions or other competing agents. Listen for the agent that lets you speak and makes you an important part of the conversation. You have a good chance that you connect with an agent or felt comfortable with one or more. Next step is to have them over for an interview at the property.
On-site Interview: Set interview appointments. Make sure you have a second set of eyes and ears to help you assess; spouse, adult child, close friend, etc. Ask the agent to bring a comparative market analysis (CMA) with them. Have another set of questions ready and make sure to ask the same questions for each agent. Show them the property. What do you think of the house? Is there anything you would recommend we do on the property to improve its curb appeal or value? How would you market the property? Will you be at every showing or every open house? What commission rates do you recommend for both buyer AND selling commission? What other activities would I be responsible for paying for? Do not give in to any pressures of signing any contracts.
Filter Again: Discuss the interview with the person that accompanied you through each of the interviews. Talk of the pros and cons you heard in the process. Research reviews online. If you have further questions, work with the agents over the phone. What price would you recommend? Based on asking price, what are the estimated closing costs? At this point you will likely be leaning towards a single agent.
Choose an Agent: Congratulations! At this point you have done your homework and have likely made a great choice. Talk about a sales plan, time frames, any home prep that needs to occur, and what the next steps are. You will need to sign a sales contract with the agent.
Things to be careful of during the vetting process:
Area Expert: The term “Area Expert” is abused in marketing material. Area experts are truly focused on a small geographic area containing 500-1000 homes. They have been working those same group of homes for several years. Agents claiming to be experts over an entire city or county are really stretching the truth. We have agents in our area that claim to be the neighborhood expert when they have never sold a property in the neighborhood. Avoid truth-stretching agents.
Hire an agent that is going to be the agent. So many very successful agents you hire because you interviewed and liked them. You sign the contract and suddenly they pass you off to their associate that will be handling the listing. Be very upfront that this is not what you signed up to.
Lack of local market knowledge: A competent real estate agent should possess a deep understanding of the local market conditions, trends, and pricing. Beware of agents who seem unfamiliar with the neighborhood or unable to provide insights into the local market. Without adequate knowledge, they may struggle to guide you effectively and secure the best deal. Ask them what their favorite restaurant is in the area.
Consider an agent that lives in the neighborhood. So many agents are from the other side of town or don’t live in the area. An agent that lives in the neighborhood will be very focused and making good impressions and values their reputation. They know all the great little nuances of the neighborhood that helps in marketing and selling the property at top dollar. You must wonder why an agent does not live in the neighborhood they work in.
Setting the Price: Avoid agents that push you into a price. Agents should not tell you the price. They should give you all the information you need to set a price yourself. You can ask them what it is worth, however, an agent his hired to sell at the price you want. If you don’t see eye-to-eye on the price, then ask what the agent would recommend to get the price you want.
Verify credentials: While it's important to trust the real estate agent, it's equally crucial to verify their credentials and background. Request references, check their licensing status, and conduct online research to validate their claims. This due diligence will help ensure you are hiring a trustworthy and competent professional.
Red flags: If you notice any red flags during the interview, such as unprofessional behavior, evasiveness, or inconsistent responses, take them seriously. Trust your instincts and consider these warning signs when making your decision. Ignoring such signals may lead to future issues or dissatisfaction with the chosen agent.
Lack of communication: A real estate agent who fails to respond promptly to your inquiries, neglects to return calls or emails, or exhibits poor communication skills is likely to hinder the buying or selling process. Effective communication is crucial for a successful real estate transaction, so it's important to choose an agent who demonstrates clear and timely communication.
Lack of professionalism: Professionalism is a key attribute for any real estate agent. Beware of agents who demonstrate unprofessional behavior, such as being consistently late for appointments, not dressing appropriately, or displaying a lack of respect for your time and needs. Professionalism reflects their commitment to their clients and their work.
Limited availability or commitment: Real estate transactions often require flexibility and availability, especially when it comes to showings, negotiations, or handling paperwork. If an agent has seems too busy or unable to dedicate sufficient time and attention to your needs, it may indicate that they have too many listings or multiple listings at a much higher price point than yours. They may not prioritize your interests or be fully committed to your transaction. If your listing is at $2M and they have three other listings in the $5M-$10M range, this is something to consider.
Yes, the process of hiring and agent can be overwhelming, however, with some good upfront planning you can get through the process with a lot less hiccups. Having an informed background of what to look for or avoid can make you savvy in the interview process and get to a quicker decision. As always, please reach out with any questions. I am always here to help!
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