Question to ask your Realtor COMPLETE (Q1-10)

Here is a compiled list of some basic questions that all clients should ask their realtors/real estate agents.

QUESTION # 1: "Can I see your references?"
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QUESTION # 2: "Do you work solo or as part of a team?"
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QUESTION # 3: "Is this area growing or declining? Can I have a CMA for the area?"
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QUESTION # 4: "What experience do you have?"
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QUESTION # 5: "How many clients are you currently representing?"
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QUESTION # 6: "How long have you been a real estate agent and how much education have you received? Is your real estate license in good standing and have you ever been subject to a client complaint?"
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QUESTION # 7: "How do your realtor fees work? Are your fees negotiable?"
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QUESTION # 8: "How will you keep me informed? How often will you communicate with me?"
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Question # 9: "What aspects of the transaction will you personally handle and which will be delegated to others?"
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QUESTION # 10: "What else do I need to know? Is there anything else I need to know now?"
---> Read more here

 

Questions to ask your Realtor - Question # 10

Lastly, ask your realtor:

QUESTION # 10: "What else do I need to know? Is there anything else I need to know now?"

I always try to go through the process of "buying a home/listing a home" with my seller very briefly at first, in order to communicate to them that there are several steps that they must go through. And of course, in order to go through these steps as effectively and efficiently as possible, it is important to be as PATIENT as possible. I thrive on being a patient person and I understand not everyone is like that. But by reminding my clients that patience is the key, they typically begin to understand and develop that characteristic (at least for the home purchasing/selling process).
I also try not to use too many field-specific words. Obviously, I don't want to scare my clients off or intimidate them in anyway.
It's also important that I provide the right information at the right time and in the right way. Years of experience has helped me gain this skill. In other words, I reassure my clients by saying "we'll cross the bridge when we get there".

And last but not least, it is my job to make this process as easy as possible for my clients. Therefore, I always make it my priority to earn their trust as quickly as possible. And do you know what is the easiest way to earn anyone's trust? Just be honest. Just be yourself.

Questions to ask your Realtor - Question # 9

This question is related to an earlier question I mentioned: "Do you work solo or part of a team?"
But you can get more detailed on that question if it is a concern to you.
So ask your realtor:

Question # 9: "What aspects of the transaction will you personally handle and which will be delegated to others?"

Basically, I will handle everything on the Realtor side whether representing a buyer or seller.
Then, the title company will handle all the legal aspects of closing the sale, and of course, the lenders handle everything with the financing end.
I also have all my contacts for home inspections, appraisals, contracting on home improvement or property management.

Questions to ask your Realtor - Question # 8

Communication is key to ANY relationship. And this is no different to the agent-client relationship. Based on that you should ask your realtor:

QUESTION # 8: "How will you keep me informed? How often will you communicate with me?"

I enjoy staying in touch with my clients. I prefer contacting them (by phone) on any major decision making. And then prefer recapping those talks on an email. When I am actively working with a client, I will be in touch daily on any updates.

Since I work at Coldwell Banker Residential Real Estate, we have many tools to assist with the communication process. Typically, Zip Platform and Dotloop are the major communication highways. Dotloop is a program that keeps everyone involved in the loop. Buyers, Sellers, Title, Agents, and Brokers. The buyers/sellers are emailed automatically with any additions or changes that occur during the sale and purchase. And using the Zip Platform, an agent can periodically send emails regarding houses of interest or any news/updates related to the city/community of interest.

Questions to ask your Realtor - Question # 7

I think the following question is something a lot of people have misconceptions about and is an important question to be answered

QUESTION # 7: "How do your realtor fees work? Are your fees negotiable?"

I found the following photo on a website. I think it explains generally how a realtor's commission is broken down. 6% seems to be the general commission paid by seller (included in sale price).
However, every realty works differently. And the part of commission paid to the broken varies widely.

The above diagram does not work on me or many of my real estate contacts in central florida.
However, for me personally, realtor fees are only negotiable when I am listing a home for a seller. normal rate is 6% but it can be negotiated to 5% to get the listing (that is something I would do if I really had to get the listing!).

Questions to ask your Realtor - Question # 6

This is another crucial question to ask your realtor:

QUESTION # 6: "How long have you been a real estate agent and how much education have you received? Is your real estate license in good standing and have you ever been subject to a client complaint?"

I have been an agent in Florida for about 5 years.
As a realtor, you must pass the education test in order to take the state test for a license. Education is ongoing and most times a weekly process with webinars, workshops, and training classes that I attend and present. Yes, because of my diverse experiences I am also a trainer and educator.
My real estate license is in good standing and I have never been subject to a client complaint.
I currently have a 5/5 star rating. You can view my ratings here.

Questions to ask your Realtor - Question # 5

I have read on several website online to ask you realtor:

QUESTION # 5: "How many clients are you currently representing?"

I have personally never been asked that question. However, I do have an intensive list of clients on my platform that I communicate with through emails on a weekly/monthly basis.
However I typically average working with 15-20 clients actively.
It is very important for me to work with my clients intensively and communicate with them on an extremely regular basis. Because it is my top priority to give me clients individual time, it is also important for me to work with a reasonable number of clients at a time.

Questions to ask your Realtor - Question # 4

When clients start working with a Realtor, I believe an important question to ask (instead of assuming) is asking your realtor:

QUESTION # 4: "What experience do you have?"

Real Estate has several divisions. Some realtors are very specific about their areas of expertise. Thankfully, due to my diverse experiences, I have been able to provide a variety of services to my clients. Obviously, primarily I deal with homes for sale and listing homes, mainly in the Central Florida area. Therefore, I deal with a variety of properties such as: Multi-Family Homes, Vacation Homes, Waterfront Homes, Luxury Homes, Retirement Homes, Retirement Communities, Condos, Townhomes, New Construction, Resale, and Land.  

My other area of expertise is real estate investing. I work with local and international investors to purchase homes for rent purposes, or flip-homes, and provide property management services as well. 

Questions to ask your Realtor - Question # 3

When clients are viewing homes of interest, they should always ask thier realtor:

QUESTION # 3: "Is this area growing or declining? Can I have a CMA for the area?"

I can pull all the reports for this question. Most importantly the CMA – Comparative Market Analysis. Don’t be confused. This is not the same thing as an appraisal. A CMA simply shows stats on recently sold homes in the area or homes of similar attributes. As a conclusion, a market value of the home can be discussed.

However, I cannot steer a client in anyway. Steering is saying something like a neighborhood has crime, or racial profile of the area. That is against the law.
In the reports it would give me market increase or decline for the area. This would lead into pricing history. Has the prices increased or decreased? According to other statistics I can predict if the area is growing or declining.