DENVER – Broker Associate Beth Baker Owens of Your Castle Real Estate in Denver, lists the two questions most people fail to ask when interviewing a Realtor.
When choosing a Realtor, you are choosing a real estate professional to help you with buying or selling your home.
Buying or selling a home is a big investment of time and resources.
“You want a champion in your corner to translate market movements and lay out the process and the paperwork, an expert to market your home and get you the best value,” said Owens. “Choose wisely and win.”
The usual list of questions to ask a Realtor during an interview include, “How long have you been in the real estate business? How many homes have you sold and where? What is your specialty (an area, a type of buyer or seller)? What services and guarantees do you offer me? How do you communicate with your clients? How do you get paid for your services?”
Real estate is a demanding and an ever-changing business. “You want a professional who handles the stresses with panache and who knows how the market is changing,” stressed Owens.
The following two questions are usually left out of the list of imperative questions to ask:
• No. 1: How do you keep up with market trends and apply that to my situation?
• No. 2: What are you doing to improve your skills and capabilities this year?
Recent news reports indicate real estate markets are slowing down in several areas around the US. Since real estate is local, it is crucial to know market specifics where you are buying or selling a property. Here are some key indicators a Realtor can measure and track:
• Price change trends
• Days on the market
• The amount and type of seller discounts
• Days to close
• How many under contract homes are not closing with the first offer
• Absorption rate
“Just as a good doctor evaluates more than your blood pressure, a good agent evaluates more than the home price,” notes Owens.
New technologies in homes and in our lives abound. Different generations focus on different values. Keeping on top of changes requires focus and energy. “Keep in mind that 87 percent of new agents are out of real estate within five years,” added Owens. “This means most people don’t innately have or easily develop the skills and capabilities needed to be a successful Realtor.”
Specific classes can provide new information. How does the Realtor apply that information? A Realtor who is being coached develops skills and capabilities to integrate new learning and to adapt. Coached Realtors also listen better and take action to provide better service for their clients.
“Coaching develops a Realtor’s resiliency and capability to handle situations,” concluded Baker Owens. “Buyers and sellers can get emotional during a transaction, so having a resilient and engaged Realtor means having a calm ally throughout the process. A growing Realtor is a better resource for you.”