1⟩ Tell me how accessible is management?
Will you be on your own a lot, or will the sales manager be readily accessible? How often is he or she in the office and can you get a hold of them whenever you need to?
Real Estate Broker
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“Real Estate Broker related Frequently Asked Questions by expert members with job experience as Real Estate Broker. These questions and answers will help you strengthen your technical skills, prepare for the new job interview and quickly revise your concepts”
44 Real Estate Broker Questions And Answers
2⟩ Explain me examples of marketing materials available to me?
You will need to see for yourself what type of marketing service is provided through the company’s design department, if they have one. Determine how often you intend to use graphic design services for postcards, business cards, online advertising, etc. and get an idea of what the company expects of you and how they provide you with the resources you need to get your marketing handled.
3⟩ Tell me what commission level are you prepared to offer me?
Do yourself a favor – don’t ask about commission until the very end of the interview. Your commission split may be negotiable and dependent upon how the manager has determined what your business growth rate will likely look like in the next six to 12 months. Asking this question too soon in your interview can be detrimental; you may unknowingly set yourself up for disappointment when you force the manager to provide you with a low-risk response before either of you have a chance to understand what you can offer to each other.
4⟩ Tell me how many top agents do you have?
Top agents generally sell more than 15 homes in a year. Pay attention to them in sales meetings to learn the most.
5⟩ Why do you want to join us here ___ brokerage?
The interviewee should have a couple of viable reasons of why they'd like to be apart of your team, such as they enjoy the company culture or they believe their skillset would be beneficial to the brokerage. This would be another oppurtunity for the interviewee to convince you why they'd be a great fit.
6⟩ Do you know how many agents work out of this office?
Camaraderie with other agents is a plus. You will be expected to bring in your own clients and listings, but there is a lot to learn from those around you.
7⟩ Do you use any Real Estate databases?
If your brokerage uses any particular online databases, see if this agent is familiar with it or if they have experience using similar databases.
8⟩ Tell me how do you find seller leads?
It's a sellers market, your lead should have a strategy in place to find and convert seller leads. Possible answers might be PPC ads, social media ads, blogging, marketing flyers, print ads, or lead generation services.
9⟩ Tell me how would you build a client base?
The candidate should provide an outline of what previous marketing plans they have implemented.
10⟩ Expenses Based Real Estate Broker Interview Questions
☛ What are my expenses under your compensation plans?
☛ Who pays for such needed items as: cards, advertising, signs, name riders, etc.?
☛ What are the expected initial out-of-pocket costs upon beginning with your company?
☛ What real estate professional organizations (MLS, Association of REALTORS, etc.) would I be expected to join?
☛ What are the costs of these organizations?
☛ Why are these organizations necessary/important?
☛ Do you have specific requirements for a salesperson’s car? If so, what are they? What about insurance?
☛ What are the tools that I need to have in order to be competitive? (Computer, smart phone, software, technology skills, etc.)
11⟩ Compensation Based Real Estate Broker Interview Questions
☛ What are your compensation plans?
☛ Do you have a written explanation of these plans?
☛ How do I reach higher levels of compensation?
☛ Do the higher compensation levels reset? If so, when and how?
☛ Do you have a 100% compensation plan? If so, what are the expenses associated with it?
☛ Realistically, what is my income potential? First year? Thereafter?
☛ How long is a reasonable time to wait before expecting some income, if devoting full-time to real estate?
12⟩ Operational and Situational Real Estate Broker Interview Questions
☛ How will you attract new clients to our company?
☛ What are the most effective advertising techniques? Explain how you use social media to promote properties.
☛ Describe how you inspect a property. What are your main points of focus and what do you ask the owner?
☛ When do you identify a purchase closing as successful?
☛ What questions do you ask tenants to identify their needs?
☛ What documents are required to close the deal and who signs them?
☛ Do you use any tools or applications to organize your list of properties?
☛ How do you manage your appointments?
☛ If you had to sell a property in a neighborhood you’ve never been before, what would you do?
☛ When you advertise a bargain, how do you ensure competitors won’t reach to it?
☛ A young couple is looking to buy an apartment. What kind of houses would you suggest to them? How would your approach be different from other cases?
☛ Do you have a network of mortgage lenders and constructors you collaborate with?
☛ What are your obligations as a Real Estate Agent? Are you familiar with industry best practices?
13⟩ Attitude Based Real Estate Broker Interview Questions
☛ In a business such as real estate sales, a person must always be “up” and “people-oriented” to be effective. Even in the interview with prospective companies the person interviewing you will look for such things as ability to communicate, positive attitude and neat appearance. People who become successful are generally those who genuinely like people and want to assist them in solving a problem (selling their house or finding that “dream” home).
☛ These “successful” people also carry the attitude not of “I have to go to work”, but rather “I want to go to work!” It’s all in the outlook you have!!
☛ When setting up an appointment with a prospective company, plan to find out not only what that company is going to give you, but how you can help make the company stronger by your efforts!
☛ These “Hogan School’s 70 Most Important Questions” will enable you to go in to your interview with confidence. Also, add some questions of your own to this list.
☛ Most companies do not require a resume, however, a well prepared resume and cover letter, even if work experience is small, indicates professionalism and attention to detail.
☛ Be pleased when the company screens you well and expects more than a “body” and license from you! A selective company will work harder with you and for you to make you a stronger more professional person!
☛ What to wear to the Interview!
☛ Look professional! Quiet, good taste is an important part of dress.
☛ Men: Collared shirt (tie optional), slacks & sports coat.
☛ Women:Nice suit, pantsuit or tailored dress.
14⟩ Miscellaneous Real Estate Broker Interview Questions
☛ What is the average sales price of houses for your company and/or this branch office?
☛ If I personally buy or sell my own property, what are the company’s policies?
☛ What are the company policies regarding rental properties I own?
☛ Does your firm have special requirements on dress and grooming?
☛ Are there some agents that have been with the company one year or less who I could talk with about their experiences with your company?
☛ What are the three top reasons I should join your company?
15⟩ Prospecting / Leads Based Real Estate Broker Interview Questions
☛ Is “floor time” available and what time opportunities and/or obligations would I have?
☛ Open houses: In order to get a quick start may I hold someone else’s listing open to acquaint myself with the business and to get prospective buyers?
☛ Does the company provide leads?
☛ What opportunities are there for me to generate leads?
☛ What advertising does the company pay for?
☛ What advertising do I pay for?
☛ Do you allow personalized “For Sale” signs?
16⟩ Behavioral Real Estate Broker Interview Questions
☛ Describe your most challenging project so far. How did you deal with it?
☛ Do you prefer working independently or as part of a group?
☛ Describe a situation where you had to manage a highly demanding client. What did you do to meet their needs?
☛ What resources do you use to stay up-to-date with trends in the real estate market?
17⟩ General Real Estate Broker Interview Questions
☛ I am interested in Real Estate Sales (or Property Management). What are my opportunities with your company?
☛ Is the company independent, corporate owned or a franchise?
☛ What is your market share?
☛ How many offices do you have?
☛ How many total agents? How many per office?
☛ What kind of management & systems support do you have?
☛ How is your office staffed administratively?
☛ Do you or your managers actively sell real estate and compete with the agents?
☛ Do you hold office meetings? If so, how often?
☛ Are there any teams that are looking to add an agent?
☛ Would I be paid as an employee or an independent contractor? If independent contractor, may I have a copy of your independent contractor agreement?
☛ What makes your independent contractor agreement different?
☛ How can I review your policy manual?
☛ Do you allow part time agents? If so, what are your requirements/restrictions?
☛ How will you measure my progress/success?
☛ What expectations do you have of me?
☛ How many transactions per year do you expect me to close?
☛ What kind of work space will be available for me?
☛ Do you have conference rooms available to meet with clients?
18⟩ Training Based Real Estate Broker Interview Questions
☛ Is there additional help/training offered (if needed) and by whom? Explain.
☛ Will I be obligated to remain with the company for a specified period of time to take advantage of no-charge type training?
☛ Is there a cost for this program? If so, is the cost reimbursable?
☛ Is it company-sponsored? Can I sit in on a session? Look over the materials?
☛ Do you have a basic training program?
☛ Do you have a mentoring program?
☛ If so, how does it work?
☛ How does the mentor get compensated?
☛ What do you offer regarding on-going training?
19⟩ Tell me what is your company’s market share compared to the top 10 real estate companies in this area?
When a company’s overall success and market share is highly competitive with other local companies, you will benefit from stronger corporate support and resources, great brand awareness and a solid professional reputation.
20⟩ What's your dream job as Real Estate Broker?
If the interviewee answers with a non Real Estate realted job, maybe reconsider them as a candidate.
