A real estate agent’s value is their ability to guide you through the process, help position your goals strategically and protect your interests – whether buying or selling a home. So when interviewing, how do you ask the right questions to find the right person?
The good news is that these questions are designed to prompt the agent to demonstrate their expertise. After all, that’s why you’re hiring an agent in first place!
1 . What areas do you serve and why?
You obviously want to ensure the agent you choose works in the right area. But it’s more than just proximity. An agent should know their market backward and forward: the best school districts, areas that may hurt your resale values, pricing throughout the submarkets and more.
A certain level of passion about the area also speaks volumes. We love to talk about Del Mar because it’s a lifestyle we want to share with others to help make their decision the right one.
2. What makes you different from other agents in the area?
While sales numbers are always a great gauge for an agent’s success, it’s so much more than just that. Ask about their experience and strategy, the systems and processes they have in place, how they communicate and educate you throughout the process.
A key differentiating factor is an agent who takes the time and energy to nurture your relationship and execute on your goals instead of considering you just another sale.
3. How many transactions are you working on at any given time?
You may think that the higher the number, the better the agent. But that’s not always the case. It could mean that they are working in a lower price range which lends itself to higher transaction volume.
They may have a large team with the manpower to handle a higher volume. Or they could be a little over their skis.
Through this question, you want to make sure the agent will be able to give you the attention, time and level of detail required.
4. How do you plan to educate me about the process?
Buying or selling a home is a very personal decision, so you need to understand the process well enough to prioritize the aspects that are most important to you.
When onboarding a new client, we take a three-pronged approach. First, we do an initial consultation to understand their needs and goals. Next, we schedule an information session. For buyers, it’s an offer workshop to walk through the process and paperwork.
For sellers, we visit their home and discuss market activity. Lastly, we meet to go over financing, title and other details to prepare for the transaction. Not only does this create a strong relationship early on, but then both us and our client are ready and prepared.
5. What can I expect in the form of communication throughout the process?
The last thing you want is your agent going dark on you or not responding quickly enough to capitalize on movement in the market. Weekly updates and reports are a great way for agents to keep you up to date on everything you need to know, watch for or take care of on your end.
7. What’s your comfort level with and how do you approach negotiations?
Negotiating is the single most important skill an agent should have in their arsenal because it requires a nuanced understanding that most home buyers and sellers simply don’t have.
If an agent can demonstrate their strategic approach to negotiation and contract knowledge, you can be sure they will be equipped to do everything they can when the time comes. And don’t hesitate to ask for examples of their negotiation wins for a better glimpse of how they operate.
Note: While speaking with a potential agent about negotiation, be sure to also share your own personal level of comfort. This will help an agent tailor their approach to you and your needs.
6. Can you advise me on my financial situation and the value of my investment?
A strong agent should have foundational knowledge to guide you toward a home or price point that fits your needs. They can pull comps to help determine a home’s value, comment on aspects like safeguarding against coastal climate or steer you away from streets that don’t resell well.
If you have a unique situation or want to go into more detail, they should also be able to introduce you to their network of financial advisors, estate planners or attorneys.
8. What lessons have you learned and how have you recovered from your mistakes?
The best agent is one who can recover from a misstep or missed opportunity with concrete next steps to ensure it doesn’t happen again. Asking them for an example can help you determine not only their working style but their personality.
If they are unwilling to admit to mistakes or don’t come across as humble and transparent, it could be a red flag.
9. Do you have relationships with other vendors?
Both buyers and sellers will often need or want to do repairs and remodels – whether it’s preparing a home for market or making their new home the best it can be.
Agents who can recommend vendors and inspectors have an added leg up. It also speaks to their reputation within the community that they have a strong network of like-minded businesses.
10. For Sellers: What is your plan to generate offers and stick to the timeline?
This question covers a wide scope, so a strong agent should have a comprehensive and tiered approach. Ask about strategy and timing of price reductions. Ask about their marketing plan. Having those conversations proactively will better position strategy and expectations.
11. For Buyers: How will you help me prioritize my needs and determine whether to write an offer or walk away?
Initially, it’s up to you to share your wants and must-haves in a home. But as your relationship grows and search continues, a good agent will recognize how the priorities may need to change. This skill will help them determine how well a home fits your needs.
It will also equip them to ask the right questions of the seller’s agent and gather key information – like the competitiveness of your offer, timing and more—that will inform next steps.
When hiring a real estate agent, your first goal is a successful transaction. But it’s just as important to feel secure in your partnership so that you minimize stress and stay excited about your latest life change.
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