How to Interview a Real Estate Agent
If you are buying or selling a home it is generally recommended that you interview at least 3 agents. One way to ensure that you’re hiring a top-quality agent is to spend some time asking the agent a lot of questions; then listening carefully to the answers. If someone has an outgoing personality (as most agents do), they’re “talkers.” They like to talk and explain things, and if you’re quiet, they’ll tell you a lot of information about who they are, how they work with clients and how they handle transactions.
If you interview two, three or four different agents, you’ll begin to get a sense of who might be a good match of intellect, temperament and interests.
First, you’ve got to get together your short list of agent possibilities. Start by talking to friends, family members and colleagues who live relatively close to where you live (if you’re selling) or close to where you intend to buy a home. Focus on agents who specialize in your area. If you are buying or selling a home in Larkspur and use a Realtor who lives in Thorton it is unlikely that agent will perform at the same level as an agent who specializes in Larkspur.
Once you develop your agent list, start making your calls. Here is a list of eleven questions to ask, along with some follow up questions.
1. What neighborhoods do you specialize in? You want to find an agent who is really plugged into your neighborhood: they know the gossip, they know the agents who work there, and they’ve seen the housing stock turn over time and time again.
2. How long have you been a licensed real estate agent? How many real estate transactions did you complete last year? What is your annual sales volume of those completed transactions? How many of these transactions were located in your neighborhood? How many buyers did you represent? How many sellers did you represent? You are looking for someone with experience, and closed transactions are a good indicator of how active the agent is. Keep in mind if the agent with the most active listings is not always the best choice. If an agent has 20 active listings you run the risk of getting lost in the crowd.
3. What type of Internet advertising do you utilize (Realtor.com, Zillow, Trulia etc)? In a 2018 study by the National Association of Realtors, 51% of home buyers found the home they ultimately purchased on the internet. Less than 1% of home buyers found their home from print advertising.
4. Which Multiple Listing Services (MLS) are you a member of? The Denver Metro area has 3 MLS services. Many agents are only a member of the Denver or The Colorado Springs MLS service, very few belong to both. If your agent does not belong to both services, they may miss properties that have not been entered in their MLS service.
5. What are the age and demographics of most of your clients? Do they have special needs? While some agents can work with twenty somethings to seniors, other agents specialize in specific areas of personal needs. If you have special needs or are looking for a house featuring universal design, it helps to have someone working on your behalf who understands what that is and where you can find it.
6. What type of home do you most frequently help your clients buy or sell? If you’re working with an agent who mostly sells single-family homes and you want to buy a condo, the agent may not have as much knowledge about the condo market or understand the intricacies of how condos work. Likewise, if the agent mostly works in an urban area selling high-priced condominiums, he or she may not be the best choice to help you buy a single-family home in an outlying area of the city.
7. Do you work full time or part time? Many people get their real estate license and dabble in real estate while maintaining a different full time job. When you are buying or selling a home you want an agent who is committed to you and your needs. You also want an agent who can work around your schedule, if they have another full time job they may have very limited time available for you and your needs. You are hiring someone to perform a very important task, you want to hire a professional not a part-timer.
8. How frequently will I hear from you? Do you typically use email, text messaging or phone calls when communicating with your clients? Are you planning any extended vacations? Whom will I be working with if you’re on vacation? While you don’t want to stalk the agent, you do want to stay in touch and not feel abandoned. Your agent should be willing to accommodate your preferred method and frequency of communication.
9. Do you work with an assistant? Many top agents have full-time assistants who are licensed agents in their own right. But if you’re going to be working with the assistant more than the agent you’ve hired, make sure you like the assistant.
10. Are you a smoker or a nonsmoker? If you’re a nonsmoker and you are allergic to smoke, even being in the car of a smoker can be problematic. Make sure to ask the question if this is something that’s important to you.
11. Can I see your letters of recommendations? Most good agents will have a collection of thank you cards and feedback reports from past clients. If they become evasive or can’t produce a significant number of them the agent obviously has not left many positive impressions in their client’s minds. My feeling is if agents don’t volunteer letters of recommendations in the initial interview, cross them off the list.
When you’re buying or selling a home, finding a real estate agent you can trust to help guide you through the complex process is extremely important. If you find yourself wondering who your real estate really is, or if the agent is more concerned with their commission than your best interests, this agent IS NOT for you. Ben Wolfe always puts his clients interests above his own and is always available to offer you personal one-on-one help with all of your real estate needs. If you have any Colorado real estate questions please don’t hesitate to Contact Ben Wolfe.
Would you like to know what our Douglas County Colorado clients are saying about us? Please visit the Client Testimonials area of our website.