As someone that has an alternative business model, I thought about the types of questions I encourage my prospects to ask, and that I have in my listing presentation so they can see how I am different. Sometimes people assume that since the company is large, the agents are good. Smaller is sometimes better.
I encourage all prospects to ask the traditional questions as well as a few which helps to differentiate real estate agents:
- Are you a full-time agent?
- How many homes did you list last year? How many did you sell?
- What is your client termination rate (those clients that let their listing expire without renewing, and those that just terminate the listing)?
- Will you give me a detailed marketing plan for our entire listing period?
- How often will I hear from you?
- If I pay you that large commission, how will you spend it? Break it down for me.
- If an agent offered a free CMA without seeing the interior of the home, ask them now that they have seen it, how would they change the CMA?
- Will I talk with you only, or someone else? (ie team, assistants, etc)
- Will you be on vacation for any portion of my listing period?
- What is your level of education?
- What did you do before you became a real estate agent?
- Tell me about your designations, what they mean, and what was valuable about getting that designation?
- How often do you have to drop the price of a home from the ORIGINAL listing price?
- What is the average % drop that you have to do?
- Can I get references for past and current clients?
- What percentage of past clients have referred business to you?
- If you don’t do what you say in your marketing plan, can I get out of this contract?
- Do you represent both buyer and seller in contracts?
If you are interviewing for a buyer agent, I think these are some of the questions you should ask:
- Are you a full-time agent?
- How many homes did you help clients buy last year?
- Will I talk with you only, or someone else? (ie team, assistants, etc)
- Will you be on vacation for any portion of my buying period?
- What is your level of education?
- What did you do before you became a real estate agent?
- Tell me about your designations, what they mean, and what was valuable about getting that designation?
- Can I get references for past and current clients?
- What percentage of past buyer clients have referred business to you?
- Do you represent both buyer and seller in contracts?
- Will you show me all of the homes on the MLS regardless of the company or compensation being offered?
- How often will I hear from you?
- Will you look at FSBO properties for me? If so, what is your fee?
There is no 100% correct way to pick a Salem Oregon area real estate agent. You need to make sure that you feel comfortable with the person you are talking with, and that they are going to take care of your interests.
3 Comments