Showing posts with label Hiring a Realtor. Show all posts
Showing posts with label Hiring a Realtor. Show all posts

Sunday, June 30, 2013

Questions for Interviewing a Real Estate Agent

Asking the Right Questions Before You Hire a Real Estate Agent.
Consumers, on the average, will spend days, even months, before making a decision to buy a car or other high-ticket items.  An employer may spend an equal amount of time reviewing a potential employee's credentials and references before hiring them, and the same holds true for a company looking to hire an outside consultant.  Why does it take time to make a wise decision in these matters when a home buyer or seller may often make a decision to work with a Real Estate Agent within minutes of meeting them?  Many of these same home buyers and sellers hire the first Real Estate Agent they speak with, all based upon a friend's or another person's recommendation without ever speaking with another Agent.


As a home buyer, you're about to make one of the most important and often expensive purchases of your life.  As a home seller, you're about to entrust one of your most valued assets to another person.  Wouldn't reason, if not financial considerations, be the driving factor about which Real Estate Agent you choose to work with?  Shouldn't you show yourself respect by actually interviewing an assortment of Real Estate Agent  before working with one?  Your selected Real Estate Agent will be representing you and your property throughout the real estate transaction!  Thus, know who is representing you.



The challenge seems to be in how to conduct such interviews and walk away with insightful information that will assist you in determining which Real Estate Agent will be most suited to providing you with the type and level of service you desire.  We all have different personality types, different levels of communication, different needs and expectations, including the real estate professionals.  Since real estate is a service industry and relies heavily upon customer service and the development of sincere relationships as the foundations for success, then there are some key aspects to consider before hiring a Real Estate Agent   Work History, Communication Style, Transaction Success, Professional Networks, and their Personality.  

As the consumer, especially the home buyer or seller, it is important for you to be prepared before interviewing a Real Estate Agent, and conversely, it is even more important for the Agent to be prepared to answer your questions.  A Real Estate Agent should be capable of immediately providing you with detailed information to the questions you may ask, and if they cannot, then chances are they will not be prepared to deal with the various details of the real estate transaction and ensure your success.  This brings up an important point, one brought up in a discussion among several real estate professionals.  Is the Real Estate Agent working for you or for themselves, aka are they using you as a notch in their belt for success or are they sincerely invested into your success?
Part of the interview process is to also understand some simple and very important visual signals.  Does the Real Estate Agent look at you when speaking or away from you?  Do they cross their hands when they answer?  Do they answer immediately or pause before answering?  The Psychology of Effective Communication and Nonverbal Communication comes into play during an interview and these are some of the signs that someone may not be answering truthfully.  Watch their actions and listen carefully to their answers, then take some time to weight the information you obtain before making a decision.  You may be interested in a book by Gregory Hartley about Body Language.

To assist you in knowing what questions to ask a Real Estate Agent  we've provided a series of questions set in a specific order for the purpose of ensuring the agent's responses don't conflict each other.  Soon, we'll be providing the reasons behind these questions, along with possible follow-up questions to ask based upon various answers.

Before proceeding, remember that a Agent should and could use the interview to determine if you, the home buyer or seller, are the type of client they are seeking and will work with, as they also have the choice of who they represent.  Be wary of agents who don't ask you questions and that do not seek to fully know your motivation and goals.  Good agents are just as selective about their clients as you should be in selecting them.
Prior to the live interview request that the Real Estate Agent provide you with links to the following so you may preview them and prepare for the interview.  By reviewing these things beforehand you'll see first hand the type of information and services the Real Estate Agent provides, and advanced knowledge of these areas can assist you in developing more specific questions that meet your goals.

  1. Personal Website
  2. Professional Blog
  3. Company Website
  4. Websites that the agent advertises on.
  5. Publications that the agent advertises in.
  6. Professional Affiliations' websites
  7. Social Media profiles/pages:  LinkedIn, Facebook, Google+, Twitter, and others.

Set aside enough time to not be rushed, write notes, and don't allow interruptions such as phone calls.  Everyone involved (a partner, spouse, or key family members) should be present for the interview session, but always have one spokesperson leading the interview.

Interview Questions:

  1. When did you obtain your Real Estate License?
  2. What types of technology do you use in your business?
  3. How many clients have used your services more than once?
  4. Can you refer reputable Mortgage Lenders, Appraisers, Real Estate Lawyers or other real estate service providers?
  5. In which neighborhoods do you primarily work?
  6. How many clients have ended a contract with you to work with another Agent?
  7. Is Real Estate your Full-time career?
  8. Do you communicate via e-mail and text, and do you use a smart phone or other mobile devices?
  9. How many clients have you represented in the last 12 months?
  10. Will I be working with you directly?
  11. Do you provide copies of any legal documents beforehand for review?
  12. What do you enjoy most and least about your job as a Real Estate Agent?
  13. Do you work alone or as a Team?  If as a Team, who else will be involved and what role do they play?
  14. What percentage of your clients are buyers and sellers?
  15. How quickly do you respond to phone calls and emails?
  16. Will you personally handle contract negotiations?
  17. Has anyone ever filed a complaint against you?
  18. Will you provide references of previous and existing clients?
  19. What are the last five real estate transactions you've completed?
  20. Do you act in a Dual Agency capacity where you would be representing both buyer and seller?
  21. Are you involved in Civic or Charitable organizations?
  22. What is your commission and how is it split with other agents?
  23. How long have you been with your current Broker?
  24. What designations do you hold and what is their significance?
  25. What percentage of your business comes from referral?
  26. What method of communication do you prefer personally?
  27. Did you have another career prior to Real Estate?  If so, why did you change careers?
  28. How many sales have you personally handled in my local area?  
  29. What kind of guarantees do you provide?
  30. What is your average List-Price to Sales-Price ratio?
  31. What other professionals will you be working with and why?
  32. What are the Top Three things that separate you from your competitors?
  33. What professional organizations are you affiliated with?
  34. Do you work primarily as a Buyer's Agent or a Seller's Agent?
  35. What haven't I asked you that I need to know?

Many years ago Yahoo conducted a poll and the public responses were a bit of a surprise, as the people who were happiest with their choice of agent did not choose their Real Estate Agent based upon facts or interviews.  The #1 reason people hired their Real Estate Agent is that they believed the Agent was someone that they could TRUST and that would "have their back" from start to finish.

So ask yourself this final question, "Is this a person I can fully Trust to represent me?"



Sign-up for email notifications of the upcoming additions to this series.  Next will be “Reasons behind the Questions”  Future articles will be “Questions for a Buyer's Agent” and “Questions for a Seller's Agent”


Read the first article in this series:  How to Find a Great Real Estate Agent.


Read second article in this series:  Ease of Use.



Written by Sebastian Barrett St.Troy


Real Estate Concierge Services previously Austin Market-Ready Services
Redefining Home Staging!  Preparing Homes for Market using our Unique Market-Ready Ontology, which includes Metaphysics, Feng Shui, Psychology, Design, Color and other disciplines that style the home towards its targeted buyer.  Targeted Home Styling for today's savvy home buyer and real estate consulting and services for Luxury Real Estate Professionals.

Sunday, June 16, 2013

Great Real Estate Agent: Ease of Use


Does Your Real Estate Agent Encompass "Ease of Use"?


As a home buyer or home seller, there are some important key factors to consider when working with a Real Estate Agent   A Real Estate Agent should already be performing based upon the "Ease of Use" philosophy of business.  "Ease of Use" is the degree to which the client achieves peace of mind about and throughout the real estate transaction.  Always interview and investigate a Real Estate Agent before committing to work with them, as this will provide you with a complete look into who they are and what they can provide.  So what does "Ease of Use" involve?



Relevant & Timely Communication
"Ease of Use" must encompass relevant and timely communication. Communication must be relevant, at the frequency at which the client achieves peace of mind, and by a method the client wants. If you want to be called, then the Real Estate Agent shouldn't send an e-mail. If you want to hear from the Real Estate Agent every day, then they should contact you every single day.  As a client, silence, bad communication, and not receiving the form of communication you desire and when you need it all equates to a Real Estate Agent not performing to your expectations and could also show a severe lack of value to you as the client, not to mention could result in delays or lost opportunities.
  • Interview Question:  What is your communication style and will you communicate with me based upon my needs and desires?  Do you answer your phone, return phone calls and emails within an hour, do you have an assistant to help when you're not available, and when are you not available by phone or email?

Providing Guidance
"Ease of Use" must encompass guidance. Clients recognize that they need help; otherwise, they wouldn't hire a Real Estate Agent at all. That help then must be authoritative, educated, and capable of being explained. "Because I said so" or "Just trust me" are not good responses to a client who wants to know why the Real Estate Agent is recommending repainting a living room, suggesting that the pets be removed during showings, or even why an offer shouldn't be accepted. The Real Estate Agent should explain the advice so the client clearly understands or should provide a reliable resource to assist in the explanation.
  • Interview Question:  Please provide a few examples of how you handle providing guidance during the real estate transaction, and who are the other professionals you will be working with to assist in providing the guidance in preparing, marketing, and closing?

Anticipating Needs
"Ease of Use" must include anticipation of the client's needs and desires. The best client service is proactive, not reactive. The Real Estate Agent should anticipate the client's needs and addresses them, often making recommendations to resolve potential challenges before others realize they exist. In real estate, anticipation can take many forms. 
Examples:
  • A home buyer desires a particular school, the Real Estate Agent suggests arranging a visit to that school prior to the home search.
  • A Home seller is going on vacation, the Real Estate Agent should inquire as to the level of communication during this time, discuss possible scenarios, and obtain vacation itinerary (complete with addresses, names, etc.).
  • Market trends are taking a decisive re-direction, the Real Estate Agent should review these and then provide the client with viable options to adjust for the new market trend.
If the Real Estate Agent knows you are going to ask for something, they shouldn't make you ask; they should anticipate and just do it for you.
  • Interview Question:  Please provide an example of how you anticipate client needs and how you would be proactive in providing what the clients needs?

Delivering Results
Lastly, but not least, "Ease of Use" encompasses delivering the result the client is seeking, or at least helping the client understand why that result was not achieved. If what you want is not something the Real Estate Agent can deliver, and you won't change their mind even after you've explained, then ease of use dictates that the Real Estate Agent recommend another Real Estate Agent that may be more suited to your needs or to thank you for your time and respectfully walk away.
  • Interview Question:  What tools or resources do you have that will guarantee the results you promise?

The best Real Estate Agents encompass the essential aspects of "Ease of Use" into their daily operations in order to provide you, the client, with the best service possible.  While you're interviewing Real Estate Agents to work with, be sure to inquire about these aspects.  A Real Estate Agent that doesn't adhere to the "Ease of Use" process probably isn't the best Real Estate Agent for you, as you can expect delays in communication (which in real estate can cost you a deal), difficulty in knowing the most suitable direction, you may not freely receive the information or resources you need, and you may not obtain the results you desire.

When selecting a Real Estate Agent, be sure that you will receive the highest level of service possible and that you're provided with the peace of mind you deserve.

Read more from the first article in this series:  How to Find a Great Real Estate Agent

Read the next article in this series:  How to Interview a Real Estate Agent



Real Estate Agents and Consumers - Download the Free "Ease of Use" in Real Estate Brochure either for yourself or to provide to others.

How to Find a Great Real Estate Agent

What Makes a Real Estate Agent Great?
With so many Realtors to choose from today, how does one know which one to hire and represent them in buying or selling a home or property?  It's an age old question and one that isn't easily answered; thus, this will be a 3 part series, so be sure to read the other articles following.
A simple question, but one that is very complicated, as such a determination is qualitative and based upon the definer's knowledge, experience and viewpoints.  I've heard it said, and often remind my Real Estate clients, "Agents get the clients they attract, and clients get the agents they deserve." and such has never been truer.  Like attracts like, Karma does come into affect, and what goes around comes around. 

To help you, we need to begin with a definition and then move forward into a list of traits, skills, and other identifiers, as without them you won't know how to find a great Real Estate Agent.

The word 'great' defined, from Dictionary.com
great [greyt]
–adjective - wonderful; first-rate; very good
–noun - a person who has achieved importance or distinction in a field

Real Estate is a relationship business, it is a service industry, providing a service to clients.  So how does one define a Real Estate Agent as great?

With service businesses we consider the level of customer service, the quality & price of their products, and the value of their services.  However, since a Real Estate Agent is a person, we have to consider some other attributes, like personal traits, knowledge, experience, reputation, communication skills, persistence, organization, and relationships.

Always encouraging others to ask questions and with the belief, "A path begins with a question, so what questions are you asking?"  Thus, "what makes a Real Estate Agent great?" is the question, but then the path continues to the next question, "A great Real Estate Agent to whom?"  Are we talking about their clients, their peers, their Broker, or whom?  In order to determine if someone is great there have to be benchmarks, something tangible to compare with.  This is why answering this question is a bit complicated.

When one dissects the variety of converging disciplines needed to really excel at the job of being a Real Estate Agent, arguably one would have to be highly versed in many skill sets to be considered technically great.  Ultimately, what makes a Real Estate Agent great is based upon the fulfilled needs of their clients AND their reputation with other Real Estate Agent, Mortgage Lenders, Title Insurance companies, and other related real estate professionals AND their personal traits.  It is agreeably difficult to define this question and provide a clear answer, so lets take a look at aspects that should be required or at least that should be expected in order to be defined as a great Real Estate Agent.



A Great Real Estate Agent ...

  • possess communication skills needed to leverage it where it matters today - online where tomorrows client resides.
  • is one who returns calls and E-mails quickly.
  • customizes their approach and focus to meet the individual needs of their client's needs.
  • doesn't lose contact with past clients and leads.
  • possesses Emotional Intelligence.  Can they listen to their clients and really understand their needs?  Can they do the same with other agents and encourage win-win negotiations that encourage the best outcome for all parties (especially the one they're representing, of course!)?  Can they understand multiple parties’ motivations and goals, assess the situation and then adequately communicate with all parties to come to an appropriate resolution?
  • keeps organized, along with assisting their clients to stay organized throughout the home selling/buying experience.
  • possesses Analytical Intelligence. Can they adequately analyze and interpret available data? Arguably that it is absolutely vital to be able to understand your market data. Whether on the buying or selling side, a Real Estate Agent cannot be a "great Real Estate Agent" without understanding the market and helping the consumer do the same. It is a big part of the Real Estate Agent's job to be interpreters of the data to assist clients in making wise, informed decisions about what is most often their largest investment?
  • maintains at all times the highest level of Integrity, Honesty, and Professionalism.
  • possesses Marketing Intelligence. On the selling side, do they "really" know how to market a home, and are they willing to make the investment to properly represent the properties in their portfolio to meet/exceed their clients' goals? On the buying side, do they understand branding to the extent that they are reaching their ideal client whose needs they are best capable of servicing?
  • is always update on their education, training, and accreditation's, and even goes beyond what is expected or required in order to become well informed in many areas as they relate to the real estate industry, their community, and their clients' needs.
  • knows the client. They know what motivates their clients, they understand the needs of their clients, they listen to their clients, clearly understand the client's need for the frequency and quality of communication required for their client to maintain peace of mind.
  • knows their craft.  They are knowledgeable about real estate laws, paperwork, and know how to effectively negotiate a deal.
  • is one who is consistently on the move, learning, adapting, growing, evolving, honing the things they excel in to the point of mastering them and embracing the things they are weak in and seeking out support and solutions to strengthen them.
  • is one who regards the brand they work under and believes that the client comes first at all costs and performs in accordance with that philosophy.
  • is always prepared.  Prepared to resolve client issues, prepared for client interviews, prepared for any issues that might affect the client's viewpoint in a negative manner.  Also prepared and proactive to overcome possible objections or issues before they arise.
  • enlists the professional services of others in order to provide the best service possible for their clients - photographers, home stagers, writers, marketing consultants, etc.

You may agree with the above statements or argue their validity in the determination and use of the term "great" as it applies to the basis of the original question.  In either case, these are some of the key statements that most agree upon and the keys to conducting an interview of Real Estate Agents prior to selecting one to work with you during your next real estate transaction.


Read more in the next articles in this series:

Great Real Estate Agent: "Ease of Use"

Interviewing Real Estate Agents