Are you preparing to buy or sell a home? Working with a real estate agent is highly recommended. To ensure a smooth, low-stress experience, choose your agent wisely. Here are seven questions for your real estate agent to help you during the vetting process.
How long have you been a real estate agent?
Realtors must complete training and pass a licensing exam. Still, on-the-job experience is vital for mastering the trade. Ask the agent how many years of industry experience they have under their belt. It’s particularly beneficial if the agent has worked in the specific neighborhood where you’re looking to buy or sell.
How many of your clients are buyers? How many are sellers?
Many agents specialize in one side of the transaction or the other. This is perfectly fine—just make sure that if the roster is unbalanced, it leans toward the services you’re looking for.
What is your average list-to-sale ratio?
This is one of those questions to ask a real estate agent when selling a home. The list-to-sale ratio reveals whether the agent regularly sells homes at, below, or above the asking price. Knowing this number can be useful for your marketing and price negotiation processes.
What marketing tools do you use?
Your agent should be able to tell you without hesitation the strategies they’ll use to sell your property quickly and at the right price. If you’re a buyer, you may not think you need marketing tools, but catching the seller’s attention is vital in a competitive market. Find out how the agent plans to help your offer stand out.
How many clients do you have right now?
Carefully consider the answer you receive. Too few clients could mean the agent is inexperienced or only working part-time. But too many clients could mean the agent doesn’t have time to devote to you. The goal is to strike the perfect balance.
Can you provide references?
To help you know what to expect from a realtor when buying, consider calling their references. If the agent can’t provide you with a list of satisfied clients you can contact, proceed with caution.
How do your fees and commissions work?
Typically, buyers don’t pay agent commission fees, so this is a listing agreement question that sellers should ask. The percentage varies by agent and market, but commissions are typically between 5 and 6 percent of the home’s sale price. After the transaction takes place, the seller pays the fees to their broker, and then the buyer’s and seller’s agents split the commission.
With these tips for choosing a real estate agent, you’re well on your way to finding the right realtor! At Vutech-Ruff we boast a team of highly qualified, licensed agents, along with a large referral network to help your home buying or selling experience go as smoothly as possible. Feel free to view our current listings and open house schedule. You can also contact us online or call 614-897-0618 to speak directly with one of our agents.