top interview questions to ask a real estate agent - part ii
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TOP INTERVIEW QUESTIONS TO ASK A REAL ESTATE AGENTPART II
Buyer Nickel & Diming During Escrow
Buyer Backs Out of Escrow
Dual Agency
Selling Rental Property
Divorce/Estate Sale
Similar Home Listed
Multiple Offers
[Situational]
BUYER BACKS OUT OF ESCROW
How would you deal with a buyer who backs out during escrow?A buyer can back out & get their deposit back if it is within the contingency periodYou can re-negotiate with the buyer or quickly go to a back-up offerA buyer could lose their deposit and you can sue them for breach of contract if they back out after the contingencies have been removedThese are all general statements, so it’s always best to consult an attorney as every contract and situation is different
BUYER NICKEL & DIMING DURING ESCROW
How would you deal with a buyer who is nickel and diming you during escrow?An agent may advise you to agree to reasonable requests for repairs or advise you to threaten to back out of the deal altogether and take your back-up offer if the buyer is being too difficultSelect an agent whose tactics and values are closely aligned to yours
MULTIPLE OFFERS
Please describe how you would handle a multiple offer situation? How would you address each of the offers if they all came in at - or around - the same price and terms?You have the choice on how you would want to handle multiple offers. There are many ways to handle this, including:
• Listing broker does not tell cooperating brokers that there are multiple offers and merely presents all offers to you
• Listing broker tells the buying brokers the situation and advises them to submit their buyer’s highest possible price
DUAL AGENCY
If you - or one of the associates at your office - brings in an offer, how would you ensure that you are properly representing my interests?This is an example of dual agency, where a buyer and seller agent are represented under the same brokerageDual agencies can create a conflict of interestThis conflict of interest may arise because the brokerage could gain “double commission” even if their offer isn’t the best offerAn agent needs to provide assurance that they will treat the buyer’s agent & offer in the same manner they would with an outside agentIf you are uncomfortable with dual agency, you should tell the agent
SELLING RENTAL PROPERTIES
I have a tenant living in the property. Should I ask them to move out first or will you show the property while the tenant is living there? I want to minimize any rental income loss.Having a tenant around makes it difficult to show the property and schedule open houses A bad tenant may not cooperate and/or may turn off potential buyers While it’s understandable that you don’t want to lose out on rental income, asking a tenant to move out may result in a quicker sale and save you money in the long runThis also gives you the opportunity to perform minor home improvements that will have a high ROI
DIVORCE ESTATE SALE
My spouse doesn't trust me to select a listing agent of my choice. What do you suggest I do?To gain trust, enroll your spouse in the selection processUpNest’s innovative platform provides full cost transparency to home sellers. Our partner agents compete for your business, sharing commission and service quotes upfront, so you and your spouse will know exactly what you’re paying for.
UpNest’s no-obligation service is fast and free to use. You will receive personalized proposals from top, local agents within 48 hours. Jointly conduct interviews and decide who to hire based on who offers you the best value.
SIMILAR HOME LISTED
A similar home is listed on the next block. What pricing strategy would you recommend for my home?Identify comparable listings, including the home on the next blockCreate a range based on properties listed or sold in the past 6 monthsGain momentum by choosing a price near the bottom of the range – this may stimulate interest among more than one buyerHave ongoing discussions with your real estate agent and be sure to do your own research
ABOUT US
www.upnest.com1-800-692-5010
Get matched with top, local
agents
Compare quotes &
services for FREE
Choose who to interview &
hire
Sell your home & save
thousands$$
TOP AGENTS
FREE QUOTES
FAST, EASY, NO OBLIGATION
UpNest is an online real estate marketplace that matches home buyers and sellers with top, local agents who compete for their business. Our no-obligation service is fast, free, and guaranteed to deliver the best value.
ABOUT US
www.upnest.com1-800-692-5010
Get matched with top, local
agents
Compare quotes &
services for FREE
Choose who to interview &
hire
Sell your home & save
thousands$$
TOP AGENTS
FREE QUOTES
FAST, EASY, NO OBLIGATION
UpNest is an online real estate marketplace that matches home buyers and sellers with top, local agents who compete for their business. Our no-obligation service is fast, free, and guaranteed to deliver the best value.