Here are the 70 Most Important Questions to ask when interviewing for a Real Estate position. Treat the interview as an opportunity to find out as much as you can about starting you own business in conjunction with the company.
- 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?
- 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?
- 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?
- 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.)
- Describe the technology that I will need to be successful:
- What software do you provide and at what charge?
- What software do you require or recommend that I must purchase?
- What Apps should I have on my iPad, Smart Phone or other device?
- What is your web-site address? (Note: You should have visited the web site before the interview.)
- What consumer services do you offer on-line?
- Would I have a company email address and a presence on your web-site?
- May I use my own website? If so, what requirements do you have for my website?
- What social media platforms are you regularly using to promote business?
Prospecting / Leads
- 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?
- 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?
- 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.