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Buyer's Guide
> Questions to Ask

How long
have you been in residential real estate sales? Is it your
full-time job? (While experience is no guarantee of skill, real
estate, like many other professions, is mostly learned on the
job.)
What
designations do you hold? (Designations, such as GRI and CRSÒ,
which require that real estate professionals take additional,
specialized real estate training, are held by only about
one-quarter of real estate practitioners.)
How many
homes did you and your company sell last year?
How many
days did it take you to sell the average home? How did that
compare to the overall market?
How close to
the initial asking prices of the homes you sold were the final
sale prices?
What types
of specific marketing systems and approaches will you use to sell
my home? (Look for someone who has aggressive, innovative
approaches, not just someone who’s going to put a sign in the yard
and hope for the best.)
Will you
represent me exclusively, or will you represent both the buyer and
the seller in the transaction? (While it’s usually legal to
represent both parties in a transaction, it’s important to
understand where the practitioner’s obligations lie. A good
practitioner will explain the agency relationship to you and
describe the rights of each party. It’s also possible to insist
that the practitioner represent you exclusively.)
Can you
recommend service providers who can assist me in obtaining a
mortgage, making repairs on my home, and other things I need done?
(Keep in mind here that real estate professionals should generally
recommend more than one provider and should tell you if they
receive any compensation from any provider.)
What type of
support and supervision does your brokerage office provide to you?
(Having resources, such as in-house support staff, access to a
real estate attorney, or assistance with technology, can help a
real estate professional sell your home.)
What’s your
business philosophy? (While there’s no right answer to this
question, the response will help you assess what’s important to
the real estate practitioner—fast sales, service, etc.—and
determine how closely the practitioner’s goals and business
emphasis mesh with your own.)
How will you keep me informed
about the progress of my transaction? How frequently? Using what
media? (Again, this is not a question with a correct answer, but
that one reflects your desires. Do you want updates twice a week or
don’t want to be bothered unless there’s a hot prospect? Do you prefer phone, e-mail, or a personal visit?
Could you
please give me the names and phone numbers of your three most
recent clients?
Reprinted from REALTOR Magazine Online by
permission of the National Association of Realtors
Copyright 2005 All Rights Reserved
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