How do you know if a Realtor® is going to be good? Experienced? Smart? Aware?
This document is intended to give DreamLoan users a method of determining the experience of a Realtor® who is not DreamLoan-Certified. These ten questions will allow you to tell whether or not you have a good Realtor® on your hands. If these questions cannot be answered, or if the Realtor® cannot answer them quickly, then find a professional, DreamLoan-Certified Realtor® is necessary (see Find a Professional).
Ask your Realtor®:
1.What is the best closing date for a contract, provided the mortgage lender has enough time to process the loan? The answer should be the middle of the month to avoid the crush of closings that lesser real estate agents always schedule for the end of the month.
2. What is the Realtor®’s role in the overall transaction? The answer is that the Realtor® should be the hub through which all information passes to other important transaction entities (mortgage lender, title company, appraiser, etc.)
3. Is it okay to look at houses a little above my prequalified amount? The answer should be an emphatic “no”.
4. How many transactions does a minimally producing Realtor® close in a year? The answer should be any number higher than 12 but no higher than 36.
5. What is three and a half percent of $200,000? The answer is $7,000 and it should take the Realtor® less than 15 seconds to answer.
6. Should real estate agents attend their closings? The answer is yes, every single one.
10. A deed conveying land to two parties on a 1/3 and 2/3 split would be an example of? The answer is tenancy in common.