Section 3:Questions & Answers: Being in the Know

It’s always rewarding when someone asks a question and you know the answer, right? Doesn’t matter if it’s a friend, child, parent, coworker or anyone else. Could be a stranger simply asking for directions. If you can, the exchange usually makes you as happy as them.

But when as a REALTOR® you’re probed multiple times by a potential client with many questions, some easy and some hard, you’d better be able to answer most or all, lest they think you either haven’t done your homework or simply are not the expert they would expect to be as their guide going forward. There’s little grading room for Bs, Cs and Ds. It’s almost always A or F, pass/fail to the max.

Of course, no one has all the answers all the time. So if you’re ever stymied, simply saying, “I’m not 100% sure…let me get back to you with that answer,” works. Then do so—fast.

Becoming the inquisitor can also be a showcase for your knowledge. Asking important questions buyers might not have thought of should impress upon them that you indeed are the real estate expert. RISMedia polled a variety of agents and brokers nationwide to find their thoughts on questions and answers.

Have you found that buyers and sellers are asking questions you may not have heard in the past? What are they?

“Yes, Buyers are asking more about interest rates and trends relating to the election cycle. Buyer representation hasn’t been a huge change for us since we’ve been using buyer brokerage agreements for many years. Sellers are asking more about compensation and if they really need to offer compensation to the buyer’s agent.” –Lisa A. Harris, REALTOR®, RE/MAX Center, Northeast Atlanta

“Absolutely, I’ve noticed buyers and sellers asking new types of questions lately. For instance, there’s been a lot more curiosity about the long-term impact of recent market fluctuations and interest rates. People are also increasingly interested in how the Burnett case might affect their transactions.” –Josh Jarboe, Principal Broker/Owner, RE/MAX Empire, Mount Washington, Kentucky

“I am hearing new questions from buyers as they are more hesitant and feel like they are overpaying because interest rates are higher than they have been in recent years. Buyers and sellers are asking if the market is going to crash and if interest rates will be going down.” –Melissa Hoff, Broker Associate and Team Leader, The Hoff Group at Compass, Florida 

“The NAR lawsuit is brought up as they hear about it in the news, but I usually get ahead by bringing it up myself before they have the opportunity. When I take on a new client, we have a lengthy conversation where my goal is that they have zero questions at the end. I’ve had buyers inquire about what the lawsuit means for them, and sellers ask why they should be paying the buyer agent fee.” –Rylie Schroeder, Founder, Schroeder & Co. Real Estate, Austin, Houston and San Antonio, Texas

“The questions I am getting now are related to navigating through what can become a delicate, difficult transaction. Each step or change has an impact. I am here to explain that to buyers and sellers.” –Pam Rosser Thistle, REALTOR®, Berkshire Hathaway HomeServices Fox & Roach, REALTORS®, Philadelphia

“I have been getting different questions due to misinformation, about rates, the status of the market, inventory, the market crash or adjustment, or some soundbite from the news. We as agents are constantly getting challenged. What people have to realize is that national, state or regional headlines don’t apply everywhere.” –Jeffrey Decatur, Broker Associate, RE/MAX Capital, Latham, New York

“Why do I need a buyer’s broker? Why do I need to pay the buyer’s broker? The questions are not new in their content, they are new in their consequence. Namely, in the past, sellers would ask why the commission was X%, and many listing agents would explain that it covers the buyer’s broker commission and would explain that the buyer’s broker is imperative to the transaction. The difference now is that since the commissions have been decoupled, the sellers feel it is a more comprehensive decision to accept the Y% + Y% presented by the listing agents. In some ways, the sellers feel like they have gotten some of their power back in deciding to pay a total of X%. And even though their decision is ultimately determined by what the market bears, this power could play out in negotiations when the market strengthens.” –Tali Berzak, Broker, Compass, Brooklyn, New York

“Buyers and sellers are curious and eager to understand how the proposed legislation will affect them. Sellers believe that less commission will be paid on their end, and buyers believe that they will spend more to compensate their broker. Clients are increasingly asking about the pros and cons of having the property in individual names versus a trust, along with the future of interest rates.” –Dawn David, Associate Broker, Corcoran, Manhattan

“Absolutely. I’ve noticed an increase in buyers asking about how agents get paid. There’s a more heightened interest in understanding commission structures and fee transparency, which reflects a positive trend toward more informed decision-making. Clients are seeking clarity on how costs impact their transactions.” –Danielle Andrews, REALTOR®, Realty ONE Group Next Generation

“Truthfully, only a couple of clients have approached me with questions the past couple of months that I haven’t seen at all in my previous nine years in the real estate industry. The most common one has come from a couple of my sellers regarding compensation for buyer representation. ‘Do I have to pay it?’ ‘How does this affect me when selling?’ Those are questions I’ve gotten.” –Blake Blahut, Broker Associate & REALTOR®, Realty ONE Group Inspiration

Have you prepared answers to questions you now anticipate that you may not have in the past?

“I grew up working for my mom who was a broker in the 1970s, and I’ve been a REALTOR® since 2007, so the one thing that I know is that the real estate market is always evolving. We should always be learning new skills and sharpening our knowledge. Just when you think you’ve seen everything, something new happens in this industry.” –Lisa A. Harris

“I’ve definitely prepared for these conversations. Anticipating concerns about mortgage rates, housing affordability and the legal landscape has become crucial.” –Josh Jarboe

“All agents must be prepared to educate buyers and sellers and answer any new questions that may arise. It’s our job to answer with expert insight, as we are the professionals they rely on to guide them through the buying and/or selling process.” –Melissa Hoff

“We have always said that we work exclusively with clients and get paid 3% for the work we do. Our goal is to negotiate with the seller to pay our fee, and if for some reason that’s not the case, they will always know prior to us viewing the home together and we can talk through what those options look like for each house. Sellers paying a buyer’s agent less than 3% is not a new thing, and is something to be negotiated, usually via seller credit, since starting my career long before the NAR lawsuit.” –Rylie Schroeder

“When there is more clarification about buyer agency, I will practice how to explain it. Right now, it is not clear. I know I need to have a buyer agency contract signed to show a house and that the buyer broker commission will not be on the MLS or related sites.” –Pam Rosser Thistle

“Over the years, I have made checklists, top 10s, dos and don’ts. I have an answer for just about everything. So do I prepare for questions that I know that are coming? Most of the time, because a lot of people ask the same questions, by the end of my presentation I have answered many of my potential clients’ questions before they ask. Being prepared, anticipating those questions, and knowing the answers right off the top demonstrates a level of expertise. It typically puts a potential client at ease, and builds trust. More importantly, it builds your confidence as an agent being prepared and knowledgeable. It is our job to manage expectations and educate.” –Jeffrey Decatur

“We have leaned into preparing for the question, ‘Why do I need a buyer’s broker?’ We have prepared responses from both the buyer and seller’s perspectives, though I must say these answers are not that new. We have always felt that a buyer who is pursuing a purchase needs representation. They need a well-equipped agent to guide them through the process.” –Tali Berzak

“Absolutely. Under the anticipation of the adjustments happening in real estate, colleagues of mine and I have discussed the types of questions we will likely receive and how to approach them. We are going into those conversations with clients with a mindset of educating them on the changes when answering their questions.” –Blake Blahut

“Yes, it’s important to be prepared to provide accurate guidance to clients. As a result, I’ve proactively prepared to address new inquiries that were less common before. My goal is to educate, inform and support my clients throughout their real estate journey, and being prepared best positions me to achieve this.” –Danielle Andrews

The experts were asked what specific questions they would recommend agents and brokers anticipate, as well as which ones to ask, and provided the following list.