Residential Real Estate interview questions

As a real estate professional you might be dealing with residential or non residential properties, but you will find these interview questions helpful to find a job in a real estate companies.

Q.1 What is a deed?
Deed is a legal document used to transfer ownership rights to real estate from one party to another.
Q.2 Which section(s) under the Transfer of property Act 1882, describes gifting of property?
Section 122 to 129
Q.3 What does English Mortgage involves?
English mortgage involves the mortgagor binding himself to repay the borrowed money on a certain date, the mortgagor transferring the property absolutely to the mortgagee subject to the condition that the mortgagee will retransfer the property on repayment before the agreed date.
Q.4 What are the rights of a buyer in a sale of an immovable property?
1. Benefits of any improvements in the immovable property. 2. Benefits of increase of value of the immovable property. 3. Benefits of rents and profits of the immovable property
Q.5 What is the primary difference between freehold and leasehold estates?
a freehold interest is an ownership interest.
Q.6 Which act governs the specific performance of an immovable property?
Specific Relief Act
Q.7 What is primary function of the real estate brokerage industry?
1. To match properties and customers 2. guide buyers and sellers through the complexities of real estate transactions
Q.8 For how long you have been in Real Estate Sales?
Ideally it takes 10 years to become an expert in any field, but even then there is not assured that an agent will become an expert. Now it all depends on whether has been seriously pursuing a full time career to become the best real estate professional. It is said that if a candidate has less than 10 years of work experience, then he should have a mentor who is an expert. Clearly while answering this question you must show your passion and expertise because if the recruiter sense that his career is nothing but a hobby or a part time source of income then he may move on to another agent without delay.
Q.9 Are you a full time agent or a part time agent?
Now being a part time agent could be a good opportunity to pop a commission now and then, but while hiring, the recruiter wants a full time professional who has the passion to work in the field and is seriously pursuing the career. Clearly part time agents are considered to have less knowledge and less experience, having other priorities that do not include focus on the career.
Q.10 Tell me about traditional marketing in real estate and current scenarios used?
This may be one of the most crucial question asked in the interview. Your answer will tell a lot about your knowledge and experience with the techniques and traditions about traditional marketing and the new world of marketing that uses powerful technologies and the Internet. You should elaborate your answer by giving examples and real time experiences of techniques used to achieve targets.
Q.11 Elaborate about internet marketing in real estate?
A agent is said to be successful when he becomes an expert in Internet marketing. In todays growing market it is that important to know about Internet marketing else you will be at a disadvantage in understanding the market scenario and functionalities. While answering this question you should illustrate high level of discernment, to be able to discern insight and knowledge from deep.
Q.12 How many of your closings this year did you act as a dual agent?
It has been seen that many agents simply focus to list, list, and list, and they let other agents sell their listings. The recruiter is seeking to hire candidate who is impressive, and as an agent you are required to list a lot of properties that other agents sell, or the agents who sells most of the listings, both their own and other agents' listings.
Q.13 For how long you have been in Real Estate Sales?
Ideally it takes 10 years to become an expert in any field, but even then there is not assured that an agent will become an expert. Now it all depends on whether has been seriously pursuing a full time career to become the best real estate professional. It is said that if a candidate has less than 10 years of work experience, then he should have a mentor who is an expert. Clearly while answering this question you must show your passion and expertise because if the recruiter sense that his career is nothing but a hobby or a part time source of income then he may move on to another agent without delay.
Q.14 Are you a full time agent or a part time agent?
Now being a part time agent could be a good opportunity to pop a commission now and then, but while hiring, the recruiter wants a full time professional who has the passion to work in the field and is seriously pursuing the career. Clearly part time agents are considered to have less knowledge and less experience, having other priorities that do not include focus on the career.
Q.15 Tell me about traditional marketing in real estate and current scenarios used?
This may be one of the most crucial question asked in the interview. Your answer will tell a lot about your knowledge and experience with the techniques and traditions about traditional marketing and the new world of marketing that uses powerful technologies and the Internet. You should elaborate your answer by giving examples and real time experiences of techniques used to achieve targets.
Q.16 Elaborate about internet marketing in real estate?
A agent is said to be successful when he becomes an expert in Internet marketing. In todays growing market it is that important to know about Internet marketing else you will be at a disadvantage in understanding the market scenario and functionalities. While answering this question you should illustrate high level of discernment, to be able to discern insight and knowledge from deep.
Q.17 How many of your closings this year did you act as a dual agent?
It has been seen that many agents simply focus to list, list, and list, and they let other agents sell their listings. The recruiter is seeking to hire candidate who is impressive, and as an agent you are required to list a lot of properties that other agents sell, or the agents who sells most of the listings, both their own and other agents' listings.
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