Below you find helpful information and questions to ask when hiring an real estate professional to assist you with buying or selling a home. (Information & questions were provided by an article found on About.com) You will find our answers to these very important questions in red. If you have any further questions or would like to set up your own private and confidential consultation please call us at 404-604-3895 or e-mail us at WeCare@TheCastleberryTeam.com.
10 Questions to Ask a Real Estate Agent - How to Interview an Agent
Smart consumers interview potential real estate agents before deciding on whom to hire. Just as you are sizing up the potential agent for a good fit, rest assured that the real estate agent will likely be interviewing you, too. Be wary of agents who don't ask you questions and probe for your motivation. You wouldn't work with just any agent off the street, and good agents are just as selective about their clients, too.
Caution: Don't interview agents from the same company!
1. How long have you been in the business?
The standard joke is there's nothing wrong with a new agent that a little experience won't fix. But that's not to say that freshly licensed agents aren't valuable. Much depends on whether they have access to competent mentors and the level of their training. Newer agents tend to have more time to concentrate on you. Some agents with 20 years of experience repeat their first year over and over. Other 20-year agents learn something new every year.
We have a total of 12 years of experience in the Atlanta real estate market. We are very proud of what we have accomplished over those 12 years, but we refuse to become complacent. We attend on going training and are constantly researching the market to better help us help our clients. We also have a wonderful team of brokers and follow agents to help with those troubling situations.
2. What is your average list-price-to-sale-price ratio?
Knowing the agent's average ratio speaks volume. Excluding sizzling seller's markets, a good buyer's agent should be able to negotiate a sales price that is lower than list price for buyers. A competent listing agent should hold a track record for negotiating sales prices that are very close to list prices. Therefore, listing agents should have higher ratios closer to 100%. Buyer's agents ratios should fall below 99%.
Our List-Price-to-Sales-Price for Buyers is: 94.7%
Our List-Price-to-Sales-Price for Sellers is: 97.3% and our average Days on Market are 31 Days.
3. What is Your Best Marketing Plan or Strategy for My Needs?
As a buyer, you will need to know:
- How will you search for my new home? With the internet today we may not be the source of the home you buy. However, we will search the listing services and network with agents to help you with your search.
- How many homes will I likely see before I find a home I want to buy? This depends on many factors, however we will look at as many houses as it takes to find you the right home.
- Will I be competing against other buyers? It's hard to tell, but there is always that possibility.
- How do you handle multiple offers? We handle each situation as it come up, as each one is different.
- Do you present offers yourself? If the home is listed by another broker we present the offer to the agent that is representing the seller as it is against the REALTORS Code of Ethics to go directly to the seller. If the property is For Sale by Owner than Yes we will present your offer directly to the seller.
As a seller, you will need to know:
- Specifically, how will you sell my home?
- What is your direct mail campaign?
- Where and how often do you advertise?
- How do you market online?
90% of marketing is done when you get your home prepared and priced properly. An agents true value is navigating smoothly from negotiations to closing. Marketing a home is home specific (every home is different). Call us today at 404-604-3895 to set up your own private and confidential consultation.
4. Will You Please Provide References?
Everybody has references. Even new agents have references from previous employers.
- Ask to see references.
- Ask if any of the individuals providing references are related to the agent.
- Ask if you can call the references with additional questions.
We have a list of testimonials on our website. If you would like more references please feel free to call us at 404-604-3895 or e-mail us at WeCare@TheCastleberryTeam.com and we would be more than happy to provide you with this information.
5. What Are The Top Three Things That Separate You From Your Competition?
A good agent won't hesitate to answer this question and will be ready to fire off why he/she is best suited for the job. Everyone has their own standards, but most consumers say they are looking for agents who say they are:
- Honest and trustworthy
- Assertive
- Excellent negotiators
- Available by phone or e-mail
- Good communicators
- Friendly
- Analytical
- Able to maintain a good sense of humor under trying circumstances
1) We hold ourselves to the Keller Williams Realty Belief System: WI4C2TS
Win-Win -- Or No Deal
Integrity -- Do The Right Thing
Customer -- Always Come First
Commitment -- In All Things
Communication -- Seek First to Understand
Creativity -- Ideas Before Results
Success -- Through Others
2) We believe in "Absolute Truth" and giving you the same information we would give a family member or our best friend.
3) We also pride ourselves in our ability to solve problems that would otherwise cause most transactions to never happen.
6. May I Review Documents Beforehand That I Will Be Asked to Sign?
A sign of a good real estate agent is a professional who makes forms available to you for preview before you are required to sign them. If at all possible, ask for these documents upfront.
As a buyer, ask for copies of the following:
As a Seller, ask for see:
Real Estate paperwork is scary and overwhelming. We always go over any document before you are asked to sign it to allow for any questions or concerns. The most commonly used documents are available for previewing on our website under "Real Estate Documents".
7. How Will You Help Me Find Other Professionals?
Let the real estate agent explain to you who he/she works with and why he/she chooses these professionals. Your agent should be able to supply you with a written list of referring vendors such as mortgage brokers/lenders, home inspectors and title companies. Ask for an explanation if you see the term "affiliated" because it could mean that the agent and their broker are receiving compensation from one or all of the vendors, and you could be paying a premium for the service.
We have a list of vendors that we work with on a daily basis and have a proven track record with our past clients. These vendors are listed on our website under "Preferred Vendors". Keller Williams Realty-Peachtree Battle does have an Affilitated Business Disclosure that our clients are asked to sign. Click Here to go ahead read over this document. Please let us know if you have any questions.
8. How Much Do You Charge?
Don't ask if the fee is negotiable. All real estate fees are negotiable. Typically, real estate agents charge a percentage, from 1% to 4% to represent one side of a transaction: a seller or a buyer. A listing agent may charge, for example, 3.5% for their side and another 3.5% for the buyer's agent, for a total of 7%.
Buyers: If the property you find is listed then the seller has already agreed upon an amount for the buyer's agent commission. Usually 2.5% to 3.5%.
Sellers: We list homes at 6%. This breaks down to 3% to the Buyer's agent and 3% to our team.
Just for your knowledge: All commissions MUST be paid to the agent's broker then the broker pays the agent with whatever split they have agreed upon.
9. What Kind of Guarantee Do You Offer?
If you sign a listing or buying agreement with the agent and later find that you are unhappy with the arrangement, will the agent let you cancel the agreement? Will the agent stand behind their service to you? What is their company's policy about canceled agreements? Has anybody ever canceled an agreement with them before? If the agent will not release you from a listing agreement prior to it's expiration upon request, then you should hire another agent. Ask about it before you sign a listing agreement. Ditto with a buyer's broker agreement. Some agents will release you; others will not.
If a client is not satisfied with our services we will gladly let them out of there agreement with us. This must be done in writing, fax or e-mail.
Sellers: There will be a $50 fee for withdrawing a listing prior to expiration. This fee is for the listing services not us. FMLS & GAMLS charge $25 each to withdraw the listing from the service.
A VERY IMPORTANT FYI for Sellers: The standard listing agreement does not allow for termination of the agreement so any termination verbiage MUST be written in by the agent in the special stipulations section of the agreement.
10. What Haven't I Asked That I Need to Know?
You might ask the agent to reiterate your goals and objectives. If the agent does not appear to have a through understanding of what you want, despite your attempts to explain what you want, then hire somebody else. Some agents do not listen very well. You want an agent who will listen to you and communicate with you. The best way to find out if the agent comprehends your desires is to ask the agent to repeat it back to you.
We do our very best to listen to our clients needs and wants. If we don't listen then we can not properly service their needs and without happy clients we don't have a business. This goes back to the Keller Williams Belief system that we hold ourselves to: "Communication -- Seek First to understand"
We hope you have found these questions and information helpful. If you have any further questions please feel free to call us at 404-604-3895 or e-mail us at WeCare@TheCastleberryTeam.com.
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