Looking for a house to buy or a tenant to sell your property to is far from being a simple task. There are many legal hoops to jump through and research to do to ensure you are making the best decision possible. This is where a real estate agent comes in.
Hiring a real estate agent can help you ensure you are making a wise investment or sale. A reliable real estate agent will guide you through the process of searching for a home or tenant that fits the criteria while ensuring you are staying within your budget. As such, it is crucial to choose the right agent to hire. But what if you don't know how to spot a good agent?
Don't fret! Here are seven key questions you can ask potential real estate agents to find the right one for you.
1. Are you a full-time real estate agent?
Not all real estate agents work full-time. Some maintain a day job while working in the real estate industry as a side hustle. While this is not necessarily a major concern, buying or selling a home requires a lot of work that involves marketing the home, searching listings, setting up home tours, and negotiating. The number of tasks to do can be hard to manage for someone with a day job, which means you may not receive the same level of service compared to someone working as a full-time real estate agent. If you require constant communication and guidance on buying or selling your home, a full-time professional may be the best option.
2. How long have you been a real estate agent?
There are plenty of things agents can only learn if they've been on the job as full-time real estate professionals, including potential problems that may arise during the transaction or house hinting and negotiation techniques. For reference, the median experience of a Realtor® is eight years, according to the NAR.
3. Where do you specialize?
Location is a very important factor in determining the suitability of a potential real estate agent. If you're planning on buying or selling a house in Wisconsin, it would do you no good to hire someone who specializes in New York or Arizona.
4. How many homes do you close each year?
When choosing a real estate agent, you will want to hire someone with a track record of successfully closing sales. On average, real estate agents represent 12 buyers or sellers per year, per the NAR. Additionally, agents usually close at least 35 deals annually in most markets. If your agent is batting lower than that, it might be a concern.
5. What qualifications or certifications do you have?
A good real estate agent stays on top of tax and zoning laws in their area. They would also be investing in continuing education and carry one or more certifications, including:
REALTOR®: This means they are a member of the National Association of Realtors
Certified Residential Specialist (CRS): This award is only given to top-performing real estate agents.
Accredited Buyer Representative (ABR): These agents have completed training in representing buyers in a real estate transaction
Accredited Seller Representative (SRS): These agents have completed training in representing sellers in a real estate transaction.
Seniors Real Estate Specialist (SRES): These agents have completed training in representing buyers or sellers who are aged 50 and older.
6. Do you work with both buyers and sellers?
If you are selling a home, it is best to work with a real estate agent who specializes in negotiating deals and closing sales. If you are a buyer, it is recommended to hire a real estate agent who specializes in searching house listings and ironing out the finer details of transactions.
That being said, it could be beneficial to work with an agent who does both as they may have great insights on either side of the process, which could further ensure a smoother transaction.
7. Do you have references I can call?
Successful real estate agents can often claim a long list of satisfied clients. When you're interviewing potential agents, be sure to ask for referrals and contact as many clients as you can to ask about their experience working with the agent. If the agent refuses to provide you a list of references, be careful.
