Choosing the right broker for your sale and purchase
Whether you’re upgrading, downsizing, or moving to a different community, having a real estate broker (aka agent) can be an important part of having both transactions go smoothly. But how do you find the right broker—or even two brokers—for you?
Key takeaways:
- Start with referrals or online reviews
- Interview candidates (see the questions below)
- Listen to what they ask you
Begin your search by asking your friends, family, and colleagues for referrals in either or both neighborhoods. Or ask us, we work with some of the best brokers in the business. You can also turn to the internet to search for favorable online reviews—especially if you don’t know anyone in the new neighborhood. Then, interview candidates by asking good questions.
We’ve put together interview questions for potential broker/s. Click on the question to see what their answers can tell you.
Which geographical areas do you cover?
How long have you been working in real estate?
Do you tend to work with buyers or sellers?
Do I need a broker that knows my specific (or targeted) area?
Do you work with a team or solo?
Do you work full- or part-time?
How many clients do you have now?
What is your day-to-day communication style?
How will you handle my unique situation?
Do you have vendors that you can recommend?
What questions do you have for me?
Finally, here are a few questions for you, the client.
Which geographical areas do you cover?
A broker who knows the community where you are selling or buying might have more information or context to help you price and market your home. Further, they may already have an established network that can connect you to interested buyers and sellers via an early or “pocket” listing.
How long have you been working in real estate?
Experience is helpful, but not always necessary. However, real estate brokers work with commissions and referrals, so it would be difficult for an ineffective agent to stay in the business.
You might also ask how many homes they have closed, where the homes are located, and how recently they were closed. These answers can help you understand their recent experience and their professional knowledge of your local area.
Do you tend to work with buyers or sellers?
This question can help you understand the perspective the broker brings to your transaction.
Some brokers purposefully focus on sales or purchases—it may suit their style, or they may work on a team that supports the other side.
As you are looking to sell your current home and buy another, you might prefer a broker with experience in both types of dealings. See our next question, too.
Do I need a broker that knows my specific (or targeted) area?
Listen carefully Some brokers will feel confident they can help you with both transactions. Others will refer you to another broker with connections to the area where you want to buy.
Sure, it might be easier to deal with one broker for both transactions, but finding a buyer and seller in two geographical areas might be more successful with two brokers. In some cases, brokers can refer you to someone from the same brokerage house but in a different area.
Ask follow-up questions, like: How well do you know X area?
Do you work with a team or solo?
You will find good brokers who work best on a team and those that work best solo. Here are pros and cons to both (spoiler alert: it really comes down to your personal preference):
Brokers that work with a team
Pros
Additional team members may bring more skills to assist with your home sale and purchase.
There may be more professionals working on your deals, which could equate to more professionals looking out for your interests.
Cons
Additional team members may create more opportunities for miscommunication.
You might find it necessary to discuss your transaction with different team members, which could require additional time.
You might not know who to contact with a question.
The real estate broker may not be an effective team leader or manager—or even a good team player.
Brokers who work solo
Pros
You work with one person, which can simplify and speed up communications.
The solo broker would have full responsibility for their duties, and not leave something for someone else—or someone less experienced—to do.
There will only be one person for you to get to know, trust, and discuss you’re the details of your transactions.
Cons
You will be working with one person—and their skill set—without additional collaborators.
Only one person will be working on your deal and looking out for your interests
A solo broker may have limited availability—as they are only one person.
Do you work full- or part-time?
This answer can tell you how they focus their time, and if (you think) it’s enough to devote to you.
How many clients do you have now?
This question can help tell you if your deal—and all its details—will get the attention you think it needs.
If a broker has a team, they may have a higher volume of clients. If so, you might ask how many people will be working on your deal and want to understand the relationship you will have with the other members of the team. If a solo broker has a large volume of clients at one time, ask how they manage their time and what systems they have in place to keep your deal on track.
What is your day-to-day communication style?
You will be working closely with your broker, so make sure they communicate the way you communicate. For example, you may prefer talking about your deal at the same time each day. Or you may prefer to receive information as it happens. You also might embrace certain forms of technology and not others.
This question is a good opportunity to set expectations for how often you want to be updated, the best methods to use, and who you want/need to be kept in the loop. Ultimately, the communication style should be set by you.
How will you handle my unique situation?
Every deal has different nuances, so ask if the broker is familiar with your situation. For example, you might be a first-time seller or have a nontraditional property. Ask them to be as specific as possible in their answer so you know that they can handle the issues that might arise from your transaction.
Do you have vendors that you can recommend?
While you have a right to choose who you work with on your transaction, an experienced broker will have a list of proven local professionals, like photographers and real estate attorneys. They may also have a list of contractors and tradespeople to help you improve the home’s condition.
What questions do you have for me?
This answer can be telling. Ideally, the broker will take this opportunity to ask you more about your goals and priorities and to learn more about you, which can set the tone for good service and a good working relationship. At a minimum, this question is an opportunity for you to confirm that they understand your goals and priorities.
Finally, here are a few questions for you, the client.
Did you like talking to this broker? Do they have the skills and knowledge to help you effectively market and close the sale of your home? Can you imagine navigating tricky situations with them? Hopefully, these questions provide helpful answers.
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Have any questions about your sale or purchase? We're here to help.