The interview stage of the relationship is important for everyone involved. You can interview the agent over the phone, or get together at his office for the first meeting, but don’t expect a top-producing agent to meet you at your home before you’ve made a selection. You’ll also want to confine the questions you’ll ask your realtor to certain areas, but be sure to hit on these 10 areas if they’re important. You don’t want to overlook critical issues. A newer agent might have more time to concentrate on you unless he’s holding down another job. You can ask about this as well. That said, there’s no bar exam for real estate agents, and no school offers a degree in how to handle problems in a transaction. Agents learn on the job. The more sales an agent has completed, the more he knows. It’s even possible that he’s taken courses and attended seminars, and it’s OK to ask about this, too. Listing agents should have higher ratios that are closer to 100%, while buyer’s agents’ ratios should fall below 99%. Keep in mind that sometimes market value has no bearing on the asking price, and ratios are meaningless in this case. Don’t put too much emphasis on them. You might also want to find out just where most of these homes were located. Is the agent familiar with the neighborhood you’re interested in or where your property is located? This area-knowledge can be an important consideration. As a seller, you’ll want to know exactly how the agent will market your home. Is a direct mail campaign appropriate? Where and how often does she advertise? What kind of photography does she offer? Does she market online? What steps will she take to prepare your home for sale? Ask if there’s anything about your home that might detract from its potential for sale. Perhaps, you could remedy and avert the problem. Even brand new agents should have references from previous employers. Ask to see them and find out whether any of the individuals are related to the agent. Find out if you can call the references with any additional questions. He might tell you that he’s always available by phone or e-mail, or that he’s a good communicator. He might indicate that he’s friendly and able to maintain his sense of humor under trying circumstances—and there will be some. It all comes down to the characteristics and qualifications that you value most. As a buyer, ask for copies of the buyer’s broker agreement. Is it exclusive or non-exclusive? Ask for copies of agency disclosures, any purchase agreements, and buyer disclosures. You’ll also want to see the agency disclosure if you’re the seller. Ask for a copy of the listing agreement as well, and of your seller disclosure. Ask for an explanation if you see the term “affiliated” anywhere. This designation could mean that the agent and her broker are receiving compensation from that particular vendor. If so, you could be paying a premium for the service. The adage that you get what you pay for is also true in real estate. Top agents tend to charge more. You want an agent who will take the time to answer this one and make sure you feel comfortable and secure with her knowledge and experience. She should know how to listen, how to counsel you, and how to ask the right questions to find out what she needs to know to serve you better.
