How Long Have You Been in Real Estate?
Experience matters. An experienced realtor will have a deep understanding of the local market, trends, and potential pitfalls. Ask about their years in the industry and their specific experience in your area. Also, if you hire a real estate agent who leads a team make sure you know who you are going to deal with on a daily basis. Many times the team leader makes a great impression, knowledgeable, and is experienced, however, they pass some clients to junior realtors who may not be as experienced.
What’s Your Experience in This Neighborhood?
Local knowledge is crucial. A realtor familiar with your target neighbourhood will know about school catchments, amenities, recent sales, and market conditions. A good example is the local market in East Vancouver: different neighbourhoods feature homes from different years, conditions, and styles. Another example is the bog area (near Kingsway & 16th). Old homes built in the bog area usually trade at a lower price due to redevelopment challenges and structural issues. If you plan to buy in east Vancouver it is crucial to have a realtor who is familiar with the different challenges & community plans of each neighbourhood.
How Do You Determine the Listing Price?
For sellers, setting the right price is key. Ask your realtor about their strategy for pricing homes, including how they use market comparisons and current trends to determine a fair and competitive price.
What’s Your Marketing Strategy?
The right marketing is vital to selling a home. ask about how your realtor plans to market your property—online listings, open houses, social media, photos, video, drone footage, floor plan etc. An experienced realtor will have a cohesive, structured, and proven marketing plan that helps sell homes. Posting new listings on MLS and waiting for offers is just not enough.
How Do You Communicate with Clients?
Communication is key to a successful transaction. Ask how often you can expect updates and what methods (phone, email, text) they use to keep in touch. This ensures you’re always in the loop.
Can You Provide References or Testimonials?
An experienced realtor should be able to provide references or share testimonials from past clients. This can give you insights into their work ethic, success rate, and client satisfaction. Treat it as a job interview, essentially you hire your marketing manager for the sale of your home.
What Are Their Real Estate Fees?
Understand the costs upfront. Realtors typically work on commission, but it's important to clarify what percentage they charge and any additional fees you might incur during the buying or selling process. Also, fees for both sides (buyers agents + listing agent) are typically paid by the seller, ask about the cooperation portion with the buyer's agent. Understanding the commission split is important, especially if a discount commission is offered. Read my blog about Realtor Commission Explained
How Do You Handle Multiple Offers?
In competitive markets, multiple offers are common. Ask your realtor about their strategy for handling multiple offers to ensure you get the best possible outcome, whether buying or selling.
What Sets You Apart from Other Realtors?
This question gives your realtor a chance to highlight their unique skills, experiences, and approach. It can help you gauge their confidence and see if they’re a good match for your needs.
What’s the Current Market Condition?
A knowledgeable realtor should be able to provide an overview of the current market conditions—whether it’s a buyer’s or seller’s market, average days on the market, and how that might impact your strategy.
To sum it up, choosing the right realtor can significantly influence your home buying or selling experience. By asking these questions, you’ll be better equipped to make an informed decision and ensure your real estate transaction goes smoothly.
If you are thinking of buying or selling in the near future book a 30-minute discovery meeting to check if I am the right fit for your real estate needs.
Jacky Levi - Realtor