Interviewing Brokers and Salesperson
Selecting Your REALTOR
What to look for in a Broker or Salesperson
- Dedication to their profession
- Takes time to determine your needs
- Knowledge of Market
- Knowledge of factors affecting value
- Marketing experience
- Negotiating experience
- Has References/Testimonials
Questions to ask a prospective REALTOR®
- How long have you been in the business?
- Are you full time?
- How many homes did you sell last year? How many in this area?
- What is the average sales price?
- What is the list to sale price ratio?
- How many listings do you carry? How many clients do you have at one time?
- Where do you feel your strengths lie?
- What is your marketing plan?
- What types of social media do you use?
- What are the market conditions?
- What can you and your Brokerage offer?
Selecting a REALTOR®
First of all, what is a REALTOR® and how do they work?
Real Estate Brokers and Sales persons are licensed and regulated in Ontario by the Real Estate Council of Ontario and maintain their license and a level of professionalism through mandatory continuing education. Brokers and Sales people have the option to join Organized Real Estate Associations. In order to have access to an MLS® service, being a member of an organized real estate association is essential. Local Boards and associations operate and maintain MLS® systems.
A REALTOR®, by definition, is a member of Organized Real Estate and is guided by a code of ethics and standard of business practice implemented by the Associations. These codes and standards are designed to protect the consumer and maintain a standard of conduct in the profession.
It is up to the individual Broker or Salesperson to seek out how they want to run their business, what Brokerage they want to work for (i.e. Keller Williams is a Brokerage), and how they maintain their professional development beyond the minimum requirements.
Real Estate is an industry paid on contingency… commission. If the Broker/Salesperson sell property, they get paid. Brokers and Sales Representatives costs for running their business comes out of their pocket…not the Brokerages. Therefore, Brokers/Sales persons run a high risk business. High risk investment usually equates to a higher reward. Hence the commission rates charged. That’s the nature of the contingency fee arrangement. The industry has seen many changes recently, due to consumer demand and technology and Industry business models are changing too to meet this demand. You will find several business models and a la carte offerings in the market place today.
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Ontario Cottage REALTORS®
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