“Broker Agent based Frequently Asked Questions in various Broker Agent job interviews by interviewer. These professional questions are here to ensures that you offer a perfect answers posed to you. So get preparation for your new job hunting”
You may prefer to target market a specific area of homes, only to learn that that particular area is being heavily marketed by other agents. Be sure to make your marketing intentions clear from the very beginning to avoid awkward situations down the road, and to work out a marketing plan with your manager that meets your goals.
Each state has rules about how many hours of certified continuing education real estate agents need to complete each year. Does the office offer this education to its agents? Who pays for it? Are educational opportunities available beyond what is required?
☛ What is the company’s basic philosophy in regard to using technology?
☛ Does the company provide high-speed internet access and at what cost?
☛ Are the printers/computers/machines in the office networked? Can I hook into this network?
☛ Do you provide specific software/ What are the programs?
☛ Do you provide voicemail?
☛ Do you provide e-mail? Is it private?
☛ Do you provide a web site for the agents?
☛ Do you provide any type of computer training?
☛ Do you provide software training?
☛ Does the company have a web site? An Intranet site?
☛ Are their presentations available that are electronic from the company?
☛ Do you encourage using Personal Data (palm pilots) Assistants? How?
☛ Does the company provide marketing templates?
☛ Does the company provide forecasting electronically?
☛ Can I do my accounting electronically?
☛ What type of long-term technology support can the company offer?
☛ What is the manager’s priorities and basic responsibilities?
☛ Do they list or sell property as agents of the firm?
☛ Describe the additional staff and their responsibilities?
☛ Is agent input encouraged? If so, how is it acquired?
☛ Describe your meetings in the office? Frequency? Is attendance required?
☛ Who establishes office policies?
☛ Describe the type of culture you create in the office? How is this done?
☛ List the reasons an agent would be asked to leave your firm and why?
☛ Do you share the company books with the agents? If so, how often?
☛ How are “housekeeping” items conveyed to the agents?
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.
☛ Does the company have a philosophy on how I should build my business?
☛ How does the company help me establish priorities and goals? Examples?
☛ Do we receive help establishing a business plan?
☛ Can I “brand” myself and my business? If so, how?
☛ What legal status do I assume with the company? Independent Contractor or otherwise?
☛ Is there a contract required? Can I see a copy?
☛ Do you have a Policy/Procedures Manual? May I see it? Do I receive my own copy?
☛ Does the company offer systems to help build my business? What are they?
☛ In regard to building my branding:
☛ What does your signage look like? Are there options?
☛ Are personal logos (slogans) allowed?
☛ What card design is used? Flexibility?
☛ Collateral and advertising materials you use?
☛ Can I acquire Builder accounts on my own? If not, how are they handled and at what cost?
☛ Can I acquire Relocation accounts on my own? If not, how are they handled and at what cost?
☛ How does the company handle incoming referrals? Do your agents consider a fair system?
☛ Does the company have an advertising policy? Explain how it works? Who pays for it? Can I do my own advertising?
☛ How are sign and ad calls handled in the company?
☛ Do you have a floor time requirement?
☛ Can I direct my own sign and advertisement calls to me directly?
☛ Do you require Errors & Omissions insurance? Who pays for it? What happens if there is an overage in that account collected from the agents?
☛ What is my exposure in the event of a lawsuit?
☛ Do you help with my accounting?
☛ If our relationship was not successful, who owns the rights to my listings?
☛ If I were to leave, how are my pending commissions handled?
☛ Can you give me a brief history of the Company? Who are the owners? Why was it started?
☛ Is the company an independent operation or a franchise?
☛ How many offices do they have and where are they?
☛ History of the current management?
☛ Does the company have a mission statement? Values? Core beliefs?
☛ How many agents work here? How many are new agents? Experienced?
☛ How many agents would bring you to capacity?
☛ What is your typical turnover rate of agents?
☛ What professional designations do your agents hold?
☛ What is the historical record of closed volume this office has done?
☛ What type of market penetration numbers do you have?
☛ What affiliations does the company have?
☛ Does the company own affiliated businesses? Do the agents share in this?
Compare this number to the agents at your brokerage. If they're just starting out, ask how they'd find leads.
The interviewee should touch not only on what traits their brokerage would mention, but how their personal traits led to a positive outcome for the brokerage.
If the interviewee answers with a non Real Estate realted job, maybe reconsider them as a candidate.
Top agents generally sell more than 15 homes in a year. Pay attention to them in sales meetings to learn the most.
Don't beat around the bush, this question is the equivalent of asking for a pay history.
Do you know why you want a career in real estate? You may love to sell, love to help people, or feel you would be a natural. The perception that real estate sales as a career with flexible hours, unlimited income, and glamor might motivate some.
Many people come to the real estate industry as mature adults, rather than young people fresh out of school. The primary reason for this is that selling homes is expensive and income is irregular. It takes confidence to make it as an independent business person, which is what a real estate salesperson is. Even though you will be supervised by a broker, you are essentially building your own business and will be responsible for your own productivity and expenses.
Although it's true you can set your own hours, income needs demand that you frequently schedule yourself to please your clients. Income can be unlimited, but so are the very real costs to develop your name (personal brand awareness) and expertise and to market listings.
The candidate should provide an outline of what previous marketing plans they have implemented.
All agents in today's age should have at least a personal website.
☛ How often?
☛ Who pays for it?
☛ Who determines which listings get advertised?
☛ Who writes the ads?
Compare the candidate's answer to other agents at your firm. Maybe this candidate could help your agents with newer platforms like Instagram or Snapchat.
If your brokerage uses any particular online databases, see if this agent is familiar with it or if they have experience using similar databases.
Real estate agents are responsible for all aspects of running their own business, but brokers can help out by providing them with items like business cards and signs as well as office and tech support.
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.
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