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Questions to Ask

Interviewing Brokers

Before deciding to work with a real estate brokerage firm you should have the answers to the following questions. I always recommend talking with at least three brokers or the sales manager before making a decision.

General Questions
  • Are you a member of the local Realtor® Association?
  • Are you a member of the local MLS?
  • Do you have a web site?
  • Do you allow sales associates to link to the company web site?
  • Do you charge a desk fee?
  • Do you have an office policy procedure manual?
  • Do you have an independent contractor agreement?
  • When and how often do you conduct sales meetings?
  • What is your firm's market share?
  • Is office space provided?
  • Is there a charge for the office space?
  • What is the average sales volume of your sales associates?
  • What is your advertising policy?
  • What is the longest time a sales associate has been with your firm?
  • What is the average length of time your current sales associates have been with your firm?
  • How many sales associates have left your firm within the past six months?
  • How is a customer call/walk-in handled?
  • How are customer calls/walk-ins distributed?
  • Does the firm carry errors and omission (E&O) insurance?
  • Who pays for the E&O insurance?
  • If I'm charged for the E&O insurance may I see a copy of the policy?
  • Is it possible to speak with your newest sales associate?
  • How has the market share for your company changed over the past year?
Questions about commission/splits
  • What is the commission split offered newly licensed sales associates joining the firm?
  • What is the commission split offered experienced sales associates joining the firm?
  • Is the commission structure graduated?
  • How or when does the commission split graduate?
  • How or why is the commission split reset?
  • Are all sales associates employed by you on the same commission structure and split?
  • Do you charge a transaction fee to buyers and or sellers?
  • If the buyer/seller doesn't pay the transaction fee who pays the fee?
  • Are there any costs or fees deducted prior to the commission split?
  • The costs or fees that are deducted what are they?
  • Do the costs or fees that are deducted apply to all sales associates?
  • Are there any other fees or costs sales associates are charged for?
Questions about leaving the firm
  • If a sales associate leaves your firm what happens to their listings?
  • What happens to the clients under a buyer agreement?
  • What happens to pending contracts that have not closed?
  • Is there a penalty of any kind if a sales associate leaves your firm?
Training
  • What training is provided by your firm?
  • Who conducts the training?
  • Is there a charge for the training?
  • Would you provide me with the names of the last two agents who have recently completed the training so I could talk with them?
  • Does the brokerage do anything other than what we have discussed to ensure the success of a new sales associate?
 
 
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