LIST OF QUESTIONS TO ASK A REALTOR

[Mansoor Fazel]

Here is a list of questions I ask when interviewing a realtor. Please add to this list if you have any additional recommendations :

Questions to ask a potential realtor:

20.Have you worked with out of town buyers before?

19.Do you own any rentals yourself? Have you ever before?

18.Do you have a handyman or repair company you could refer me to?

17.Do you ever assist people looking for homes to rent?

16.What are the ratios of buyers to sellers that you deal with?

15.Can you do video walk through, FaceTime, skype sessions?

14.Can you provide a CMA (Comprehensive Market Analysis ) for purchase price & Fair market rents in this area?

13.Are you flexible with your commissions\fees?

12.How long have you been a real estate agent?

11.How many homes have you sold this year?

10.How many homes do you currently have listed?

9.Are homes in your area going at, above, or below listing?

8.Can you provide a list of referrals?

7.Do you have any recommendations for inspection companies?

6.What are some of the perks of working with you over another realtor?

5.Have you done any property management?

4.What’s the demographics like? Job Market? Schools?

3.What are some of the highlights of neighborhood(s) you specialize in?

2.What’s the average cap rate in your area?

• 1.Do you have any experience dealing with investment properties?

[Michael Hastings]

Hi @Mansoor Fazel, I think the list of questions you have prepared are those that are to be used if an investor is researching a realtor in a market which is not local to you?  If so, it seems to me that the questions you have provided are fine, but how do you analyze the answers?  For example, what if you ask me "Have you worked with out of town buyers before?" and I answer "no".  Will you not want to work with me, if I have answered affirmatively to all of the other questions?

In the markets not local to me that I have been researching thus far, I have just been calling to the listing agents for the properties that I am interested in, and in that instance most of the questions you posted would not apply, as they are the gatekeeper to the listing at that point.

If there is a need to have a "go to" agent for a marketplace, then I see a reason for many of the interview questions you posted above, but not all of them.  A lot of this business has to do with trust, gut instinct and the ability for someone to perform on your requirements.  When I was buying a lot of property in Bay Area years ago, I used a variety of agents, and frankly could not tell you unconditionally that one was better than the other.  But, the thing was that as the listing agent, they had a direct connection to the seller and had a willingness to help me close the deal.

I would be interested however to hear how you handle the answers to these questions to select a realtor to work with.

Thanks~