Hiring a good real estate agent can really make a huge difference to your profit margins (to the tune of tens of thousands of Ringgit), so it’s very important to pick the most qualified candidate.
However, it can be a difficult choice to make, especially if you have zero to little knowledge on the property market.
To make the job easier for you, we have narrowed down the top 8 questions you should ask your potential real estate agent to make sure you pick the right person for the job.
Like most professions, experience counts. However, that should not be the overriding factor to consider. You’re looking for someone with enough knowledge and practical knowhow to handle all aspects of his duties, but who also possesses the drive & motivation to put your best interests forward.
With enough experience, prospective agents can give a rough estimate of the sale price they think they can get for your property. It is also important to know what they are basing this estimate on, so you will need to probe deeper by asking them for case studies and real life examples of recent sales they have accomplished with similar properties – both from their agency or others.
Like other professions, property agents also have their areas of specialization. Look for an agent that has sold at least 3 or more properties similar to yours in the past year that are located in suburban areas and are in the same price range.
Doing so can be advantageous, as you can ask the agent for their list of clients that turned down the previous sales. They can then approach and suggest your property to this list of interested buyers.
Of course, your agent will not be able to provide an exact number, but with this question, you are trying to understand his/her perception of the current market as well as how the agent explains the factors that can affect the selling process. Did you understand the explanation? Did it make sense? If the agent is a good seller, he/she will have no problem explaining these facts in a clear and concise manner.
Like #4, the important thing to observe is how your potential real estate candidate handles himself in real life scenarios. Don’t be afraid to ask questions like “How much is the vendor selling for?”, or “Why is he selling the property?”
Pay close attention to your real estate agent’s answers, as this is likely how he will interact with your potential buyers.
Asking these questions is a great way to gauge the impression they give as representatives of your property to potential buyers.
Any real estate agent worth his salt will not hesitate to provide you with a list of clients who are more than willing to endorse his services & expertise. Even agents who are new to the business will be able to supply a positive reference or two, such as a recent employer.
Once given, don’t hesitate to call these references to gather their feedback before picking the agent to represent your interests.
This question will allow the agent to demonstrate what stands them apart from their competition, both as an individual agent and as an agency
So what’s next?
Now that you have these awesome checklist of questions, it’s time to pick your dream real estate agent!