33 Questions to Ask A Real Estate Company
If you’re interviewing other Real Estate companies these 33 questions should help you choose a company that is best for you, your family and your career.
1. What is your company “value” statement?
2. Who makes decisions on a local, regional and/or national level within your company that will affect how your firm is run?
3. Do you have a leadership group of selling and listing agents within the company that work together with ownership/management to make decisions on how the company operates?
4. What is your company “vision” statement?
5. What amount will I pay annually to your company from my sales?
6. Is there a “cap” on that annual fee?
7. What would my “split” be at your company?
8. Does your company charge franchise fees?
9. If there is a “cap” in the annual fee I pay to the company but I do not make the necessary sales to pay the entire “cap”, is the remainder forgiven on my anniversary date?
10. Does your company offer a “true” 100% commission plan or am I always going to be paying some amount to the company? Transaction fees, etc…
11. Can I advertise my own direct phone number on all of my “for sale” signs, flyers, internet sites, home books & newspaper ads & business cards without including the main office number?
12. What type of “structured” training does your company offer for:
• New Agents?
• Experienced Agents?
• Mega/Top Agents?
13. How often is your training available, what is the cost and where do I go for training?
14. Who is responsible for developing your training curriculum?
15. Is your company “Open Book”? Do you allow your associates to see the financial statements from the company?
16. What types of tools, systems, training, education and business models has your company developed to assist your agents in making not only their first sale but in achieving whatever level of success the agent desires?
17. Does the broker and/or manager of your office compete for listings and/or sales?
18. Do you have a system in place that rewards me for helping increase the profitability of the company? Tell me in detail how that system works?
19. How does your company view “team building”?
20. Does all relocation or other referrals go directly “agent to agent” for a more “typical” 20-25% referral fee?
21. If I choose your company but for some reason things do not work out and I want to move to another competing company what does your independent contractor agreement say in writing regarding my listings and/or sales?
22. Would my listings belong to me and my new company or would they remain with your company?
23. If I did move to another company what about any “pending” sales I have, would I be paid on my normal “split” or would my “split” change on those sales?
24. Will you show me the section of your independent contractor agreement that covers this issue?
25. Does your company do local, regional and/or national advertising? If yes, why? If no, why?
26. Are all agents in your company treated equally with the same potential for earnings?
27. Do some agents in your company have better “deals” than others? How would I know for sure?
28. Does your company have a charitable foundation set up to contribute to community needs? National needs? Needs of agents in your local office?
29. If you offer a 100% commission plan, do I pay a monthly fee to get to 100% or do I pay only as I make sales?
30. Would I get my own personal website? What is the cost?
31. What fees does your company charge for each transaction?
32. How many offices do you have:? Are they individually owned & operated?
33. What is your policy for hiring agents from other companies? Does your company have a system in place to determine if this agent would be a good fit for your company?
If the Real Estate Company you are interviewing falls short, can’t substantiate, or hedges in any way, you’re interviewing the wrong Real Estate Company!
Make sure the Broker/Owner/Manager can back up any and all statements. Take a “show me” attitude! Don’t be shy; this could be the most important business decision of your life!