How To Interview a Real Estate Agent

How to interview a real estate agent

So you’ve decided to buy or sell a home, and now you have to get down to the business of choosing a REALTOR®.  So what’s the best way to pick your real estate agent?

Well what most people do is ask their friends and family for a referral to a real estate agent.  In fact statistics show about 70% of agents are chosen by referral.  That’s a good place to start and all of the agents we know are very happy to receive those referrals but not every agent being referred is truly the best person for the job.  Consider some of those referrals come from their family, some of the agents are brand new to the business, and some agents pay for referrals so is your buddy passing along that agent’s name just so he can collect $100 bucks?

You need to further vet those agent referrals through an interview process.  Here are 2 links to questions buyers and sellers should ask when interviewing and selecting their real estate agent:

Questions to interview a Buying Agent

Questions to interview a Selling Agent

You don’t have to go through every question but do make sure to find out at least these 3 things about agents you are considering:

1. How many years have they been in the business of selling real estate?  If its less then a couple years you should really consider a more experienced agent to help you through the process.  5 years plus is preferred..
2. Do they have local market knowledge?  Hiring an agent who spends most of their time selling cottages at the lake is not the right agent to hire to buy a condo downtown.  They need to be intimate with the neighborhoods and housing types that you are interested in.
3. Do they have a proven track record of being a good negotiator?  Any agent you are considering should be able to provide you with market stats on asking price vs selling price and how their stats compare to the market.  Look for a listing agent that is getting higher then average prices in lower then average times and look for buyers agents that are getting their clients below average purchase prices when compared to asking price.  If an agent can’t or won’t provide that info then you’re best to keep on looking for someone who can.

Now that you know how to interview a real estate agent, I would love the opportunity to interview.