How To Interview A Real Estate Agent

agentBOOST makes it easier than ever to find a real estate agent who is willing to work for less than the standard commission percentage. However, you shouldn’t hire an agent based on commission alone.

Once the bidding period for your property is over you are encouraged to interview all of the agents who placed a competitive bid. Here are some discussion points that will help you decide which agent is right for you:

1. Let them know you found them on agentBOOST.
Agents give agentBOOST members discounted rates, so let them know that you found them through us. Also, be sure to describe the property that you uploaded and the bid you received. Agents do not have access to personal details of buyers or sellers, so don’t be surprised when the agent doesn’t recognize your name!

2. Understand the terms and conditions.
An agent’s bid may be contingent on a number of terms and conditions. For instance, a seller’s agent may include the stipulation that a lock box is placed on the door of the property. This allows buyers access to the home when the seller’s agent is unavailable. The earlier you know about any deal-breaking terms, the less time you waste with an agent who isn’t right for you.

3. What marketing materials are included?
If you are selling your home it is important to understand how the agent plans on marketing your property. Will the agent have an open house? Will the agent place advertisements in the newspaper? This question could also be rephrased, “What are you going to do to make sure my home sells?”

4. Discuss when you would like to move.
If you need to move before a certain date (or cannot move until after a certain date), be sure to discuss this with your agent. It does not make sense to choose an agent who is going on vacation the week you need to close!

5. Agree on a contract length.
The real estate agent is going to want you to sign a contract which ensures the agent receives exclusive rights to your transaction. Contracts typically last around 6 months.

6. Do a background check.
Before you sign a contract, check with your state’s real estate commission which records any disciplinary action the state has taken against the agent.

7. Full-time or part-time?
For most people, whether or not their agent works full or part-time should not be a deal-breaker. If you work 9-5, does it matter if your agent isn’t available during those hours? What is more relevant is whether or not the agent is available when you need him or her. Considering to work with a part-time agent is also one way to get the lowest commission rate available.

We recommend that you interview all the agents that placed a bid on the opportunity to work with you. Finding an agent you can trust is often worth any extra commission you may have to pay.

Posted in For Buyers & Sellers on May 1st, 2007

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