Best Questions For Listing Agent In An Interview
It is important to know what is the function that listing real estate agent perform, and understand that the realtor/agent acts within code of ethics, and ask your listing agent the right questions for listing agent in an interview in order to get clear picture of what’s ahead and what is expected, and to avoid any unwanted surprises.
The services of different real estate agents vary: different levels of service are also provided by real estate agents, such as full-service agents, and partial service agents, or listing agencies. We will discuss and clarify the different functions of each, as well as give you a guideline to get you started on the right path while selling your house.
Full service agent: is an agent that perform all functions of the home sale. That is usually include, from getting you the right home value, to listing, your home, adding your house to the MLS, to listing your house, to marketing, and advertising, preparing the contracts, conducting the negotiations, attends house showings, to closing.
Partial service agents/listing agency: is refers to services that provided by online sites that have access to the MLS via memberships, and provide listing services. That mean they only list your house online, and in most cases you might be required to attend the showings for your house, pay for additional advertising, and so on. Those brokerage has multiple level services, and would end up about the same cost should you choose to get full service package.
The experience levels of the listing agents also differ
Therefore, it is of great importance to interview multiple agents so as to figure out which is the best fit for the work. When buying or selling a house, the process may take months, and you want to make sure that you have an agent on your side that you are comfortable with. For example, if you listing your house and your agent got an offer-Late Sunday. Is he or she gonna pick up the phone, and call back or text, or wait after the weekend. It is good to know upfront what to expect and what is their schedule of work if they have set schedule, or like most agent, due to the nature of their job, their working hours is flexible, and expected to work holidays and weekends if needed.
The way we connect you with agents on Reacasa is different then any other platform, though you still want to interview more then one agent to make sure you are satisfied with the agent you choose to work with.
The best practice when you are in the process of hiring a listing agent
Is to do some online research and check their profile on sites like Reacasa.com. See their level of activities, area of expertise, area of service and so on. All of this information is available to you on Reacasa. We import agent’s reviews from social sites so you get clear picture without having to jump across multiple sites.
Moreover, we recommend: that you interview two or three real estate agents.
If you are selling your house: and you are in a hurry to sell, you can list on Reacasa.com to instant cash offer. You won’t have to list the house for sale. The only thing required is just answers to few questions about your home to determine its eligibility.
That being said, here are some questions and points during your interview. In addition to the guideline we provide, you can also ask and discuss any points that specific to you and your situation. We will also dive down into the commission paid to listing agents, how it is work, what expenses agents bear, and so on.
1.What’s included in your services? As we discussed and clarify the different level of services that real estate agents provides, it is crucial to know upfront what services are you getting, and what additional cost you might have to pay for in addition, during the sale process. For example, some agents do include advertising on Facebook, Instagram, Google, Etc. in their service, and others may pass the cost for additional advertising on to you. Most of full service agents would include services such as:
Comparative market analysis: you should have the right listing price for your house and this is what your agent should do. Get the right home value. They have access to data and house sales. They make use of comps – price of recently sold houses that are similar in size and condition to yours to ascertain a fair market value for your house.
Assisting in showing: you should choose a listing agent who will attend all showings. If he will not be available, he should either send a team member or provide a lockbox that would enable buyer’s agents go in to the house and check for themselves. Last thing you want is someone wants to see your house and they couldn’t.
General advice: your agent should willingly give you hints on the type of renovations or repairs required to be made since you are paying them for their expertise. Your agent should guide you during staging and advise you on the features that are loved by buyers in your area. Advise you on seller’s disclosure, and so on.
2. Is your fee negotiable? We are not trying to turn you one way or another, but we will shed the light and clear some points regarding the listing agent’s commission, you may or may not know. The final decision is yours and the result will vary dramatically based on many factors. Here are how listing agent’s expenses regarding the commission. It is very important to negotiate from a point of knowledge and understanding.
Average commission: you would pay when selling your house is 6%. So, where this money goes, and how it is divided?
Your agent would get 50% or 3%: from the 6% is paid, usually your listing agent would get half of that, and that would covers the services they preform.
3% or 50% is for the buyer’s agent: most buyers hire a buyer’s agent. Buyers don’t pay the commission. Therefore, the commission that sellers pays, cover buyer’s agent. It is important to keep in mind that the buyer’s commission is in the listing, and anything less than the usual 3%, some agents might be reluctant to show your home to a potential buyers. Does this happens all the time? No, but it could happen.
Brokerage’s fees: by law, all real estate agents must work, or hang their license at a brokerage. Some of the brokerage fees vary, but most brokerages charge percentage of what the agents make on every sale.
The decision is yours: when it comes to the negotiations, but it is good to know where the money goes, and how it is spent. It can also affect the advertising that your listing agent might include in their services, those include, Facebook ads, Instagram, Google, and so on.
3. What is their experience in the neighborhood? Agents should have overall knowledge of the city, but some agents are have more experience in specific neighborhoods, or specific types of sales. To list a few, is short sale, luxury homes, etc.
4. Are they part of a team, or they work solo? This might not affect the result as much, but when working solo, your listing agent would take care of every aspect of the process, and he would be the one you will be in contact with in every phase of the sale.
If they are a part of a team: they way it usually work is; every member is responsible for a phase of the process. For example, there is a team member responsible for the listing, another member is responsible for advertising, and another member is responsible for the contract and so on. It might be a good idea to clarify who would you be communicating with at any stage of the sale. Either way, that has no affect on the work, but it is good to know.
5. What are their working schedule? When this question is asked, it is expected that the agent replies by saying he doesn’t have hours. Nevertheless, you should consider that your agent has some other things to do apart from your work. Family, other homes to sell, help buyers, and so on. But what you really need to find out here is, if there is an urgent situation late Sunday, is it okay to text or call? Is your home selling coincide with a holiday, and there might be potential buyers that like to see the house during those time due to their time limitation, is your agent available for work during the holidays to show the house? Clarify if your agent is flexible or they have set schedule. We understand that everybody have a lot in their plate. It is good to know upfront so you can avoid any miscommunication in the future.
6. How do you plan to market the home? Different agents market client’s homes in different ways. This question should mostly be directed to full-service agents. Let them tell you their plans. A full-service agent should be responsible for professional real estate photos and since such agent is experienced, he should show you samples of the photos and even videos for those who wants to tour your home online especially during COVID19.
As for the listing description: remember it should be simple, clear, accurate and compelling; choose an agent who can craft it that way.
Social media advertising: your agent should also be active on social media including Facebook, Instagram, Twitter and LinkedIn with lots of followers because these are the people he will share the listing description with. As we discussed above, ask if your listing agent will use paid advertising to market your home, or he or she will just use their social accounts.
7. What are the contract requirements? Ask about the listing agreement and about the cancellation clause. You might decide to terminate the contract if you are not satisfied with your agent or if you change your heart about selling. Something might come up or the market shows it’s probably a wrong time to sell. When any of these happen, you may reimburse the agent if he or she has started delivering some of the services agreed upon such as paid advertising. You may also have a set timeframe to sell your house. For example, you can sign the contract for 6 month, or 3 months, and evaluate to decide if you wants to renew the contract.
8. Ask if your listing agent have a references? It is on sites like reacasa.com where you can find the agent’s profile, and their reviews from social sites. From the reviews, you would get an idea if your agent is active, organized, and means business or not. But you can also ask your agent for additional references.
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