Homeowners should interview a few potential REALTORS® before deciding on one to sell their home. Here are some smart questions to ask:
1. How long have you been in the business?
A freshly-licensed REALTOR® can do a wonderful job and will have up-to-date knowledge of the laws regarding real estate. But there is no official state training for understanding contracts and the complicated sale process. Those who have been in the business longer bring more practical experience to the table.
2. How many homes have you sold in the last 5 years? How many were representing buyers, how many were sellers?
How long they have been licensed isn't quite as important as how many people they have represented over time. You can be licensed while working a completely different full time job, and many licensees do! NAR reported that 71% of it's agents DID NOT SELL A HOME IN 2024! See this article for more info. And another article in 2024 showing nearly half of real estate agents did not make a sale in 2023. Here's a link to that article. It's important that you choose someone with experience, knowledge, and has a solid track record of representing sellers each year they are in business.
3. What is your average list-to-sales-price ratio?
A competent listing REALTOR® should hold a track record for negotiating sales prices that are very close to list prices.
4. How will your marketing plan meet my needs?
Specifically, how will you sell my home? Where and how often do you advertise? Will you show me a sample flyer? How do you market online?
5. Will you provide references?
Ask if any of the references are related to the REALTOR®. Ask if you can call their references with additional questions.
6. What separates you from your competition?
Key phrases to listen for: assertive, available by phone or e-mail, analytical, professional, reliable, and able to maintain a good sense of humour under trying circumstances.
7. May I review documents that I will be asked to sign?
A good REALTOR® makes forms available to you before you are required to sign them. Ask to see agency disclosure, the listing agreement and seller disclosure.
8. Will you help me find other professionals?
Ask who and how they can refer you to great tradespeople, their experience with each, and how they are affiliated..
9. How much do you charge?
You don’t have to ask if the fee is negotiable, since all real estate fees are negotiated. It may be a good idea to ask what their commission fee is for your reference.
10. What haven’t I asked you that I need to know?
Pay close attention to how the REALTOR® answers this question, because there is always something you need to know--always.