So I’ve decided to sell one of the biggest investments of my life. Congrats! It’s important to know what to ask when interviewing brokers. That’s why I’m letting you know the inside scoop on what to ask real estate brokers before hiring one.

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3 MUST ASK REAL ESTATE BROKER QUESTIONS

Here are 3 real estate broker questions I don’t hear enough from sellers that they should be asking:

1. How long the broker has been a full-time expert  in the market?

Okay, this isn’t the time to give a big break to my friend’s cousin who just got his real estate license. Or somebody I barely know from a tiny group. An exceptional broker usually has been working full-time in the real estate market for at least four years. So if the brokers’ response is, “Well, real estate is my side job. My day job is selling encyclopedias,” then I can politely inform him I’m going with someone else.

A broker with four years of experience knew things I can only learn on the job as a full-time real estate expert. If I find someone who’s been working in the real estate market for 10 years or more, that’s even better. I’ll know I have someone with a track record of success.

Location is also necessary. If I’m looking to buy a house in Illinois, it does me no good to have a broker who specializes in Los Angeles. This is obviously common sense. A broker who’s established in the real estate market knows how much houses have been selling out for during the past few years, which educational institutions are the best, and all the related quirks.

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2. How many homes do he close each year?

Not to pick on my friend’s cousin again, but it’s key that my broker has a splendid track record of actually closing homes sales. I want someone who closes more homes than 90% of the brokers in the real estate, which means at least 35 closings per year.

3. Who will be my primary point of contact?

Communication is crucial, and worst communication is one of the most exhausting parts of dealing with a so-so broker. Who will I be able to contact and when? Home sales happen very immediately and taking three to four days to respond to a written message or email is totally unacceptable, especially if I’ve been led to expect a three-hour response window.

Many top-notch brokers have a team that supports them. I’ll make sure I have one dedicated person who will answer my queries whenever I have them and make sure I get a guaranteed response time.

Can you mention some other considerations before getting a real estate broker on board?

A lot goes into buying or selling a property, and the procedure will get smoother more than I’m prepared. If I’m planning to buy a property in the near future, then I might want to consider things like the real estate broker credit score, and if I’ll qualify for the mortgage I need. If I’m selling, I’ve to be sure to ask my broker how saturated the market is, and how to make my property listing a competitive one.

As always, I should take the time to consider all of the available options before diving into anything and I shouldn’t be afraid to stay put if the timing doesn’t feel right.

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