Questions To Ask A Real Estate Agent - Part 1

Buying or selling a home is the biggest investment most people will ever make. Using a real estate agent or realtor is often the key to a successful transaction.

However, buying or selling a home can be especially difficult when dealing with an incompetent or disloyal real estate agent. Fortunately, most real estate agents do an excellent or reasonably good a job.

Then, there is that worrying small percentage of real estate agents who are downright incompetent. Almost every industry is inflicted with this type of person, so it is important for homebuyers and home sellers to avoid the bad agents. To help select the a good real estate agent, there are several key issues you should discuss with any real estate agents you are considering.

Here are 3 questions to ask any prospective agent:

Real Estate Agent Question:

How long has the real estate agent been involved in the real estate industry?

This question is not intended to disavantage a new real estate agent, as time spent in the industry is not necessarily the most important factor. However, it may demonstrate the agent's level of experience or field of experience. That's not to say that a new agent wouldn't do a better job - and that's why you need to ask several other questions too.

Real Estate Agent Question:

Can the real estate agent supply testimonials from satisfied clients?

It would be reassuring to be able to contact the last three or four home sellers that the agent represented. Although, it is not always possible to get the names, addresses and phone numbers of the most recent clients, a lot of real estate agents will be able to put you in touch with some former clients. The real estate agent might even include this information in his or her listing presentation.

The important thing is to follow-up on these clients and ask if they were in anyway unhappy with service and would they list their home for sale with the same agent again. If they wouldn't ask why? Listen carefully to the answers and be alert for any hesitation or vague answers.

Real Estate Agent Question:

Does the real estate agent offer any form of guarantee?

The real estate agent might be extremely positive and confident of selling your property, but will he or she offer any form of guarantee? You might want some reassurance on the amount of effort that will be put in, or the amount of advertising, or you may want the opportunity to cancel the listing if you're not happy with the progress.

It is all very well hearing about what the agent plans to do and achieve. But, things don't always go to plan and promises are not always kept. It pays to know in advance, what recourse you have if the real estate agent makes a mistake or fails to deliver on promises. Discuss how your relationship with your agent can be improved or terminated if things don't work out.