Are you aware of the crucial questions to ask when hiring a Realtor?
Are you aware of the crucial questions to ask when hiring a Realtor?
This is a crucial factor to consider whether you’re planning to buy or sell a property, or even both.
No matter if you’re a buyer or a seller, it’s highly likely that you’ll require the assistance of a real estate expert during your transaction. According to the National Association of Realtors, 54% of buyers and 64% of sellers opt for a Realtor. Most of the time, they have been referred to by someone they know or have worked with in the past.
With our experience in selling and purchasing eight different homes, we have recently decided to assist our clients in acquiring their first condo, bringing the number up to eight properties.
Interview a real estate agent or broker
As for interviewing the real estate agents, we must confess that we have not always been diligent in vetting them. At times, we relied solely on recommendations from friends, which may not have been the wisest decision.
In the instance of the property we purchased in Başıktaş, we did not have a Realtor. Therefore, when we discovered a property we were interested in and reached out, the listing agent referred us to a Realtor within her office who then became our buyer’s agent. Unfortunately, we did not have the opportunity to inquire about her before hiring her. Fortunately, she turned out to be an exceptional Realtor.
We were fortunate, but it’s best not to take any chances when it comes to hiring a Realtor.
What questions to ask when hiring a Realtor?
We recommend interviewing a Realtor, regardless of any recommendations received, before finalizing the agreement. It is crucial to be aware of the right set of questions to ask during the interview to ensure that the Realtor shares the same vision as you do, whether it be for your home sale or purchase.
When you’re hiring a Realtor, there are six questions that you should always ask.
- Question 1 to Ask: Are you a Full Time Agent?
In our years of experience and collaboration with agents, we have learned that it is not ideal to work with an individual who only participates in real estate part-time. It is best to choose someone whose profession is solely dedicated to real estate.
For instance, when we choose Istanbul and were in the process of purchasing a property, our mortgage company suggested three real estate agents for us to consider. Among the three, two had mentioned in their bios that they worked as teachers and did real estate as a part-time job. However, the third one was a dedicated full-time Realtor. Can you guess which one we opted for?
You want an agent with flexibility
When choosing Istanbul as your new home, it’s important to partner with a real estate agent who is dedicated to assisting you throughout the entire process. You need someone who can be available during business hours as well as on weekends, so that any concerns or issues can be promptly addressed. If your agent has other commitments and cannot devote their full attention to your needs, it could potentially cause delays or setbacks in the buying or selling process.
As a real estate company, OCTOPUS SERVICES understands the importance of having a knowledgeable and dedicated agent to guide you through the buying or selling process. Choosing a part-time agent, even if it’s a close friend or family member, can lead to a number of potential issues and complications. Limited availability often translates to limited knowledge, and that can create unnecessary stress and risk for your transaction. That’s why we recommend working with a full-time agent who has the experience and expertise to handle all the details and ensure a smooth and successful outcome.
- Question 2 to Ask: Will You Be Staging My House?
The time when a “For Sale” sign on the front lawn was enough to draw purchasers to a house is long gone. The great majority of potential purchasers in today’s society significantly rely on online tools to find their ideal house. In order to increase their chances of successfully contacting their target audience, real estate companies now need to prioritize their online presence.
Asking about staging is crucial when choosing a realtor so that your house presents itself in the best possible light and appeals to prospective buyers. Asking the realtor whether they will send out a stager or let you handle it yourself is advised. After all, luring potential buyers requires a picture-perfect property.
- Question 3 to Ask: How Will You Be Marketing My Home?
It is advised that you inquire about your Realtor’s marketing strategy for your property. Ask them how they intend to market your house and whether they intend to engage a professional stager or photographer. You should also find out if they intend to have any open houses. The effective marketing of a house for sale can be greatly influenced by all of these variables.
Additionally, an increasing number of real estate brokers are promoting properties on social media. You can find out if they have an active profile on websites like Facebook, Instagram, TikTok, and others.
- Question 4 to Ask: Have You Ever Sold a House in My Area?
It is unquestionably beneficial to have a strong foundation in general real estate knowledge and experience. However, it’s imperative to have a thorough understanding of the neighborhood where you intend to buy or sell a house. When OCTOPUS SERVICES bought a house in a seller’s market, we had to learn this lesson the hard way.
The realtor we worked with primarily dealt with buyers in another part of the state. Nonetheless, when we expressed our desire to explore an area an hour south of her usual territory – this is my interpretation and not her statement – we discovered her limitations.
Familiarity with an area is key
She didn’t understand the market or the comparable sales during the seller’s market, so her advice on making an offer didn’t help us get the house we wanted. In hindsight, we ought to have inquired about the availability of a colleague who worked in a location closer to the home we ultimately purchased. Perhaps we would not have missed out on bids from bidding wars if that person had more awareness of how homes were selling in the neighborhood.
- Question 5 to Ask: What Percentage of Your Listings Actually Sell?
Sometimes, you put a home on the market and it doesn’t sell. Or, it doesn’t sell the first time you list it.
One of our KARTAL homes was the victim of this. Our agent couldn’t sell it after we listed it on the market. Looking back, she didn’t push us to stage it and let us price it too high.
The following year, we worked with a professional stager and a different Realtor. We had numerous offers the first weekend it was on the market. The house eventually sold swiftly and for more than it was originally listed for.
Ask about list-to-sale ratios
This should serve as a warning to look for a salesperson who has a greater list-to-sale ratio. Thus, more of the homes listed by this agency are selling. It’s typically indicative of a house that is appropriately staged and priced when it goes on the market.
Higher list-to-sale ratios suggest that an agent is more aware of recent, relevant comparable sales in the area. These are all desirable traits in a real estate agent—they know what the market will bear, they price the house to sell in the current market, etc.
- Question 6 to Ask: Are You a Licensed Realtor?
Anyone can call themselves a real estate agent or broker. But only those that have gone through certain training and are licensed in their state can call themselves a Realtor.
Here’s why you want to work with someone who is a legit Realtor: https://octopuservice.com/en/marketing.com and holds its members to higher level of service. If ethics are as important to you as they are to me, the choice is easy–always work with a Realtor.
