Buying a House? Important Interview Questions for your Realtor.
I once had the pleasure of helping two attorneys (that were married to each other) find a great home. Talk about a detail-oriented couple! At our first meeting, the presented me with a very thorough list of interview questions. In my 9 years of real estate, I've never had to answer so many questions and I really enjoyed the interview.
I started thinking, that if other buyers had this list that they might make better decisions on their hire (which would in turn help our overall profession. (I hate it when I hear a real estate horror story, when it could have been avoided with a proper first meeting interview to gauge the skills, knowledge and experience of the agent).
In Part 1 of this blog, I will post the list of questions. Part 2, I will answer the questions (keep in mind that some of them are specific to the market of the moment. And I will note that in the answer).
I suggest sending this list to the agent before hand and allowing them to do a little preparing before your meeting (also a good gauge of how responsive and motivated the agent is to help you and some of the questions require looking up some past statistics).
• How many people are you currently assisting in finding a house?
• How many buyers will you work with at one time? How many sellers?
• Will you be representing other buyers who are looking for homes in the same area and
price range as we are?
• How many homes, on average, do you show your buyers?
• What is your experience in the locations we are looking at?
• What percentage of the homes you've sold or located are in our search area?
• Do you specialize in a certain area of town?
• Do you have a price-range you specialize in?
• How many homes did you sell in the past year as a buyer's agent?
• How do you stay up on current trends? Do you take classes or frequently attend training?
• How do you stay up on proposed developments that will impact a property?
• How do we know if this is the right time to buy?
• Will you help us decide if our desired price range is appropriate? Can you help us
choose a good price range?
• How will you help us determine if our down-payment is appropriate?
• How can you help us determine if an offer we make is good one?
• How will you leverage the best deal for our client?
• How will you handle multiple offers?
• Tell us about the inspection process? How do we renegotiate the offer if the inspection
reveals a problem? Will you attend our inspection?
• What are the average closing costs your buyers have had recently? Are there possible
hidden/ costs we might encounter?
• How are you compensated?
• Will you always be the one showing us houses and contacting the seller's agent?
• How accessible are you since we may have to act within hours on a property? How often
will we talk to you?
• How much notice do you need if we want to look at a home?
• What are your negotiation techniques?
• How will you search for properties that may not be listed in MLS (those sold by the
•How do you represent us in a for sale by owner situation?
• What about foreclosure situations? How do those work?
• What expectations do you have of us as the buyer?
• What questions did we not ask?
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Laura Ivy Blessing blogs about the Austin, TX known and lesser known happenings with a splash of real estate savvy for today's buyers and sellers. Please call her today to consult and advise you through your next real estate transaction.