I was interviewing a client over the past week who was thinking of selling their home and I asked, what is a common question when I first sit down with Sellers; “how was your last Real Estate experience? Was it positive or negative?” Surprisingly, (or not surprisingly) many times the Seller mentions a negative experience or was left with a memory that something didn’t meet their expectations. Also, and I find this shocking, many cannot remember the Agent they used, even if they made a move within the past few years. One of the lessons I learned early is that with the average Canadian moving once every 10 years or so, providing value to them when they are happy homeowners in the time between moves, creates relationships that are lasting, and really enjoyable.
With so many Real Estate experiences in the “rear view mirror” viewed as unsatisfactory, I thought it would be good to cover questions that can be used when interviewing a Listing or Buying Agent before agreeing to work with them. Once you get past the usual “we are number 1, I am number 1 or we sell faster, higher and have more Buyers than anyone” this is a good list of questions to really dig in to the interview to determine if the Agent is a good fit for you.
Prior to a list of possible interview questions I felt it would be good to dip into “Real Estate School 101.” There is a word that Realtors learn when becoming licensed, and the word is used continually in most educational settings. “Fiduciary.” The opposite of Fiduciary is transactional. Fiduciary can be easily explained as “a client entering into a relationship with an Agent where the agent has the responsibility to act on their behalf in a fair, honest manner with their best interests in all activities”. Confidence, loyalty, communication and good faith are all elements of this relationship. Transactional means just that, that the transaction is the more important part of the experience. With many of the questions that are used to help a Seller determine if the Agent is the one they might choose to work, revolving around numbers and rankings, here are a mix of different inquiry questions that might help in your choice. Let’s start out with the “relationship” questions and then move into ones to determine if your interviewee is qualified.
Real Estate Agent Interview Questions:
- How much of your business comes from referrals from past clients and people you know?
- Past customers – if you look at how long people are staying in their homes, what home did you sell in the past year that you sold to the client between 5 and 10 years ago?
- If we choose to work together and there are issues, who do I speak with?
- Who will represent me when negotiating an Agreement to purchase?
- Can you share an experience where you recommended a Seller not sell?
- How do you give back to the local community?
- How many 5 star Google reviews do you currently have?
- Can I get the name of 3 clients you worked with 10 years ago, as referrals.
- How long have you been selling Real Estate?
- Are you employed anywhere other than Real Estate?
- Are you local? Where is your office located?
- How many homes did you sell in 2021? How many in Durham Region?
- How do you market and where do you market? (Remember many Buyers are travelling from the west side of Toronto to Durham.)
- Are you a solo agent or on a team?
- What is your position on the Durham Top 100 list?
- What is your ranking in your company Canada wide?
Over the past 37 years I have found by chatting with clients (Sellers in particular) that many who have had experiences that were less than stellar, were left with expectations not being met. When a client focuses on the professional fee, staging being included, or not, and other offers of value, and not on the experience the Agent has, the level of negotiating skills or whether or not they are a good fit to work together as a team, the experience leaves a unsettled memory. A mix of experience and a good “fit” betters the chances of success.
When you work with an experienced, skilled, local agent who comes with a resume that is years in the making, your chances of success are greatly improved. There is a saying, “past performance is no guarantee of future success, but what else can you go on.”
Doing your research, asking for referrals, and feeling that you can have a beer or a coffee with the Realtor you end up working with will really help you in choosing a relationship over a transactional experience.