Sep 26, 2022 - 13m read
9 Questions You Should Ask Your Realtor
Whether you’re looking to buy or sell a home, the realtor you hire should be able to readily answer any question you pose. Even if you ask complex questions about the real estate market, your agent should have this information on hand. Hiring the right agent can pay dividends as you search for a new home or take steps to list your home on the market.
Anthony Reinoehl
Co-Founder
Whether you’re looking to buy or sell a home, the realtor you hire should be able to readily answer any question you pose. Even if you ask complex questions about the real estate market, your agent should have this information on hand. Hiring the right agent can pay dividends as you search for a new home or take steps to list your home on the market.
It’s highly recommended that you hire a real estate agent who has an ample amount of expertise, experience, and professionalism that can help you during the home-buying or home-selling process. Because of the large number of real estate professionals you have access to, finding the right agent for the job can prove to be a challenging task. By asking your realtor the following questions, you should be able to identify an agent who meets your needs.
What Does a Realtor Do?
Licensed real estate agents are responsible for helping buyers and sellers alike. Buyer agents will assist buyers in finding properties that match their specifications. These agents will also help buyers make a reasonable offer and will handle all negotiations with the seller’s agent.
A seller’s agent is commonly referred to as a listing agent. When a homeowner hires an agent to prepare their home for sale, the professional will begin by performing a comparative market analysis, which effectively compares recently sold properties in the area with the main property. This analysis allows the listing agent to provide their client with an accurate estimate of what the home should be priced at when being placed on the market.
The best real estate agents are ones who are experts with the local real estate market and have ample resources at their disposal. For instance, hiring a realtor gives sellers access to the MLS database.
When buying a home, the real estate agent makes sure that the contract includes all of the necessary clauses that protect the buyer. If the buyer didn’t have an agent on hand, they would need to complete extensive paperwork on their own, which takes up a considerable amount of time and money.
What are the Different Types of Realtors?
There are three different types of realtors that a client might require depending on their specific needs. Knowing what the different titles mean should make it easier for you to find the right real estate professional for the job.
A Licensed Real Estate Agent
Also referred to as a realtor, these agents are members of the National Association of Realtors. Anyone who becomes a member of NAR is expected to adhere to the Code of Ethics that the association maintains. The Code of Ethics details all of the rules and guidelines an agent must follow when it comes to their interactions with other real estate professionals, their clients, and the public.
Certified Residential Specialist (CRS)
Certified Residential Specialists are agents who have extensive knowledge and training in selling and buying residential properties. In order for an agent to obtain this credential, they must first pass a comprehensive course on residential sales.
Accredited Buyer Representative (ABR)
An Accredited Buyer Representative is a real estate agent who specializes in providing assistance to buyers. ABR agents have detailed knowledge of how to help buyers search for a new home, make a compelling offer, and successfully close on a deal.
Seniors Real Estate Specialist (SRES)
A Seniors Real Estate Specialist is an agent who has received training and is knowledgeable in how to help sellers and buyers who are over 50 years old with the home-selling or home-buying process.
CC Capital Home Buyers
Selling your home to CC Capital ensures that you receive the best offer for your home. At the same time, you’ll be able to avoid painstaking real estate agent negotiations that only serve to make the home-selling process more stressful. Once you contact our team at CC Capital, we’ll immediately begin to evaluate your home, after which we’ll provide you with a customized offer that meets your preferred timeline and purchase price. Our process allows you to avoid needing to navigate the complex real estate industry.
9 Questions to Ask Your Realtor
If you’re in the market to buy or sell a home, there are many questions you should ask realtors before hiring one of them. Asking these questions should give you the information you need to determine which agent is best for you.
9. How Long Have You Been in Business and What Is Your Sales Volume?
If you’re about to place your home on the market and engage in a sizable transaction, it’s essential that you know exactly how much experience a realtor has before hiring them. Their sales volume will also help you determine if the agent in question is effective at their job.
Make sure that you request sales data about the agent’s most recent transactions. The agent you’re thinking of hiring should be able to give you detailed information about the latest trends in the local real estate market.
8. How Will You Communicate with Me and How Often?
You should be able to speak with your real estate agent on a regular basis. Asking this question allows you and the agent you hire to know the exact frequency and type of communications that will be made. If you tell the agent ahead of time that you prefer speaking over the phone, you can avoid hiring an agent who only communicates with texting. Because of how important the home-selling process is, regularly communicating with your agent is necessary for finding a home and getting the deal done in a reasonable timeline.
7. What Is Your Marketing Game Plan?
If you want your home to be sold quickly, it’s highly recommended that you hire a real estate agent who has a strong marketing game plan for all of the properties they represent. Agents should give you a timeline for the sale of your home based on current market conditions as well as a comprehensive outline of what their marketing campaign entails.
Make sure that you inquire about the availability of staging services, professional photography, flyers, and other marketing techniques. You should avoid hiring an agent who only performs basic marketing.
6. What’s the Ratio of Buyers to Sellers that You Represent?
By asking about the ratio of buyers to sellers that an agent represents, you’ll be able to gain a better idea of what the agent’s main area of expertise is. In the event that their roster of past clients is relatively balanced, this indicates that the agent is knowledgeable about each side of the process. When selling your home, consider hiring an agent who focuses specifically on selling homes.
5. How Long Do You Usually Work with Buyers, from the First Home You See Together to the Closing Table?
Even though only a small number of buyers are able to locate their dream home in an instant, the real estate agent you hire can dictate how quickly you’re able to buy a home. While there are unavoidable factors that can extend the length of time it takes to find the ideal home, you should still avoid hiring an agent who almost always works with buyers for at least six months. This indicates that the agent isn’t actually helping their clients find the right home.
Inquire about how the agent would help you navigate a possible bidding war. The current real estate market is tilted significantly towards sellers, which means that there are more buyers than homes on the market. In this scenario, it’s common for a homeowner to receive multiple bids for their property in a short period of time. Make sure that the agent you’re thinking of hiring tells you exactly how they would deal with a bidding war if it ever occurred.
3. How Many Properties Should I See Before I Make an Offer on One?
Asking this question should give you the opportunity to learn more about the process that the agent takes. If an agent always completes the home-buying transaction quickly, this indicates that the agent may be pushing buyers to rush their decisions. You should always view at least several different homes before you decide to make an initial offer. While it’s always possible that you’ll find your dream home on the very first day of the search, this is unlikely. The agent you hire should never rush you during this process.
2. Can I See a CMA for This House?
A comparative market analysis looks at 5-15 properties in the immediate vicinity of the home that have been found to be comparable in size, style, and appliances. These comparisons are used to identify what the home should be valued at. If you want to make sure that the home you’re thinking of buying is priced correctly, your agent should be able to provide you with a CMA for the home in question.
1. Do You See Any Major Red Flags with This House? What are Your Concerns?
Your agent should be able to tell you about any potential red flags or concerns they have with the home you want to buy. As a buyer, you might not immediately identify these red flags, which is why it’s important to use the agent’s expertise to your advantage.
Buying or selling a home with a real estate agent can make it easier for you to complete a real estate transaction efficiently and without making a mistake. The questions detailed above should help you narrow your choices and eventually find an agent who fits your exact situation. When selling your home, call CC Capital to simplify the entire process and close on the sale of your home quickly.
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