Real Estate Agent Interview Preparation Guide

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Having another job shouldn't necessarily cut a potential real estate agent out of the running, but you need to be aware if this is a part-time gig before committing. Someone who also works somewhere else may be harder to reach and could miss out on opportunities to show your house.

Good word of mouth tends to spread within neighborhoods, so if your real estate agent has had a lot of home sales in your area, that's probably a good sign. Familiarity with your neighborhood can only help your agent sell your home.

There is no magic number to look for here; just use your common sense. If the number is very high or very low consider that a red flag - you are looking for someone with a thriving business who still has time to devote to your home sale.

A full service Realtor should be at the home inspection, bank appraisal, etc. You are paying this person a lot of money. Make sure they earn it! They have a fiduciary responsibility to YOU!

There are some buyers who believe that real estate agents would prefer to only have to show a couple houses to their buyers before they purchase a home. This is true. In most cases, a great buyers agent will only have to show 5-10 houses to their clients.

Why is this? A great buyers agent will be able to identify their clients wants, needs, and preferences. Sometimes this is able to be done with a simple face-to-face meeting and sometimes after looking at a couple houses. A real estate agent who shows 25 houses to you without narrowing down and being able to identify what you are looking for is wasting not only their time but also yours.

Advertising takes place in two forms:

Traditional - newspapers, signboards, agency window display and brochures
Digital - online advertising that reaches clients through their digital device such as online listings on agency and third party websites (realestate.com.au, domain.com.au etc) and e-mail marketing/brochures.
Depending on the type of property and its location, digital media options may be enough - have a look at what similar properties are doing in your area.

For agents across Australia, vendor paid advertising (fondly known as "VPA") is the ideal. The practice, however, varies by market, property type and agent. Will your agent put money on the table for any marketing costs or is it your responsibility? It pays to find out to avoid any surprises. Also, it may be of use when it comes to negotiating commissions. If you bear all of the marketing outlays, the agent may be willing to reduce their rate.

The Realtor should be making sure they explain to you how they get paid and what exactly they do for the money earned. Commissions can vary from agent to agent but don't be shortsighted here. If the going rate is X don't necessarily think you are saving money if agent tells you that they will charge Y instead.

Membership in this professional organization is what allows a real estate agent to use the title Realtor. Being a Realtor means that the person has agreed to follow the organization's ethical guidelines and to keep up with continuing education.

Real estate agents love to share their knowledge and expertise. A real estate blog is a great venue to share their wealth of knowledge. Ask potential buyers agents if they have a blog or an example of article they have written. If they provide you a URL for their real estate blog, be sure to check it out. What types of articles have they written geared specifically towards buyers? Have they written articles giving advice for first time buyers? General home improvement articles?

As a real estate agent, representing buyers is different than representing sellers, period. There are different "tasks" that a buyers agent is responsible for during the transaction and the same for the sellers agent. It's important to know how many homes a potential buyers agent sold last year while representing buyers.

This question will allow the agent to demonstrate what stands them apart from their competition, both as an inpidual agent and as an agency.

► How long has this property been on the market for?
► Why is the vendor selling?
► How much will the vendor accept?

Asking these questions is a great way to gauge whether you are comfortable with the types of responses your agent is giving to potential buyers!

This is an important interview question because a Realtor that is confident they will get the job done should have no problem with this clause.

Though a new real estate agent can certainly be motivated and eager to please, a pro with years of experience will have the knowledge and skill to face unexpected challenges. Taking continuing education courses shows a commitment to keeping up with changes.

Full-time, experienced people generally are the way to go, although there may be nothing wrong with folks who have less experience but know the area very well.

Part-time agents are the best option only if you are looking to buy a home and don't want your search to be too active, the kind of thing where you are moving slowly, happy to see the occasional home that might spur you to act. The problem with part-timers is that they are not always going to be available when you need them. Remember, too, that a real estate agent's life heats up when a sale is pending; if she squeezes in business between a lot of other activities, she may not have sufficient time to handle the demands of the deal at its most delicate time.

One of the biggest complaints that buyers have when it comes to their real estate agent, refers to communication. Whether it is lack of communication or the method, this is an important question to ask. If you prefer to have your buyers agent text message you, it is critical to find out if the potential buyers agent text messages or not. The same can be said for e-mailing as well.

If your desired communication method is not one that is mentioned by the buyers agent, it could potentially lead to issues down the road.

Each village, town, and city will have their own property values as well as real estate "trends." In most communities there are some areas that houses are listed and sold within a week of being listed and others that take a couple months. A buyers agent should be able to advise you on what property values and market trends you should expect from your target areas.

Additionally, they should be able to help point you in the right directions to help you determine if the neighborhoods are the right place for you to purchase a home.

Mortgage and financing is a very popular subject when buying a home, especially for the first time. When interviewing a buyers agent, this is a good question to consider asking. The responses that will be received will vary, however, a great real estate agent will answer this question with a resounding "yes." It's critical that when buying a home, a buyer gets pre-approved before looking at homes.

A buyers agent who shows dozens of houses before getting a buyer pre-approved (or at the very least, pre-qualified) is doing a huge disservice to that buyer. It's important that a potential buyer has a strong grasp on the type of financing they qualify for and the amount they qualify for and bottom line, if they are able to purchase a home at that specific time. This can help eliminate disappointment, heartbreak, and also save the a buyer lots of time!

This is an important question. You are not looking for the cheapest agent with this question, you are interested in what is included in their fees! You are looking for a good negotiator and value for money - a good agent will be able to confidently justify their price.

Commission levels vary widely depending on location and state, and there are other ways to negotiate the structure - see our tip below for the latest statistical report on average real estate agent commission to give you a better understanding!

► How does your experience and training qualify you for this job?
► What is the KEY item of importance when negotiating on behalf of the County?
► What is a deed of trust?
► What is a reconveyance?
► Tell us about the role you've played in a major purchase?
► What is a permit/license?
► What experience do you have with concessions?
► Describe pre marketing strategy?
► Describe your experience in working with attorneys?
► How do you interpret an appraisal?
► What are the important items in a lease?
► Name the essential items to protect the County in a purchase?
► Do you have anything to add?