Real Estate Interview Questions
"When interviewing to work in real estate, expect to be evaluated on your salesmanship and knowledge of the real estate market. Employers are looking to hire candidates with top-notch marketing and interpersonal skills that can successfully close deals. Real estate agents must have excellent customer service abilities, so come ready to describe a time when you went above and beyond a customer's expectations to make a sale. All agents must obtain a real estate salesperson's license, and after a few years in the field, agents can choose to become brokers and manager their own brokerages."
What are the issues in being successful as an agent which Fathom Realty should focus in our quest to optimal optimize Agent's personal success?
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I repliedco-branding marketing would be useful in building an agent's business. I noted that carefully choosing talented ethical agents would in long run be beneficial by association to all agents. Also mentioned were having a streamlined compliance approval for deals was appreciated as well as simple recognition of being on a a path to success. Less
Would IRR be higher for a property generating high cash flow, or one generating nothing at all?
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I hope you didn't tell them that. In fact, the IRR is the rate which allows all incoming and outgoing cash flows to be equal. The question is a bit ambiguous considering the IRR is also heavily dependent on the money invested (outgoing). With respect to the question, if you are receiving high returns relative to the amount invested, that would lead to a higher IRR. In fact, an investment that generates nothing at all would have an IRR of -100%. Hope this helps anyone who actually receives a poorly worded question like this. Extra bit of help: IRR > Risk free rate of return -> Project should be considered IRR You just lost your company a lot of money Less
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I see this question as really asking: "Do you know the definition of an IRR?" since the original question is so ambiguous. It merits a discussion of IRR rather than a yes/no answer. Less
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You can also think of it this way: IRR is the discount rate at which NPV = 0 (breakeven). This means you can assume a simplified model of NPV = –Cost + CF/r 0 = -C + CF/IRR C*IRR = CF Assuming that the investment (cash inflow into the projects) is the same for both projects, we see that as cash flow(s) increase, so does the IRR. tl;dr: IRR is HIGHER for property generating HIGHER cash flows. Less
Do you want to be a real estate agent?
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My qualifications and personal strengths align with what is required to be a successful Real Estate Agent My communication, people-centric nature and compassion have afforded me excellent relationship building skills coupled with my experience in Sales, Business Development and Human Resources have been proven to be a beneficial asset throughout my career. Please review my attached resume for a more in depth illustration of my work history and accomplishments. I would greatly appreciate the opportunity to interview at your earliest convenience. Thank you for your time and consideration of my candidacy, Sincerely, Gabrielle Rem Less
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I am completely committed to undertaking whatever measures are necessary to becoming a Real Estate Agent with your firm. Less
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Yes, I am interested in becoming a Real Estate agent and am committed to undertake whatever is necessary to achieve that goal. My experience in sales, business development and human resources align with what is required to become a successful part of your team. My communication, people-centric nature and compassion have afforded me excellent relationship building skills. Please review my attached resume for a more in-depth illustration of my work history and accomplishments. Thank you for your attention and consideration of me candidacy. Less
What are your strengths/weaknesses?
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I tried rooftop slushie mentioned above and it was pretty helpful. I recommend it. Less
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This is an interesting read: bit.ly/faang100
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Customer service / tend to work too much.
Give your assessment of the present condition of the commercial real estate market (regional or national - you pick) or capital markets in general as well as where you see them going over the near-term.
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^this kid is an idiot. no one knows where it is going, but it is useful to understand market conditions and interest rates. they will want to know that you are following the markets and have interest/have something to talk about Less
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What kid is an idiot you are you that kid that’s an idiot that’s the only kid I see that’s an idiot good luck with those job interviews buddy they may just be thinking the same thing about you idiot moron why can’t people keep their mouth shut if you don’t got nothing nice to say don’t fuking say it Less
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There was really no wrong answer per se; I gave a reasonable assessment of the market and a modest prediction of where it was going. Anyone who pays attention to financial news will be able to give an intelligent answer to this question. Less
What are your expectations
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To see how the combination of the eXp cloud real estate concept and my experience in the TN real estate market can mutually benefit the customer/clients in this market. :) Less
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My expectation is to work for a reliable company. Consistently giving as much loyalty, taking responsibility, and showing as much integrity as it askes of its employees. Furthermore putting in as much effort as anyone to make all parties live better, more fulfilling lives. Less
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I told them I expected to receive support and learn as much as I can while upholding ethics and legal perameters. Less
What is the amortizing loan constant for a 6% 30-year mortgage on a $50 million dollar loan?
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Question does not specify, but I would assume monthly loan payments. If that is the case, monthly debt service is $299,775.26, and annual debt service is $3,597,303.15. The loan constant is equal to the annual debt service divided by the original principal balance of the loan ($50,000,000). The correct answer is 0.07195 or 7.195%. If we assume annual payments, the payment amount in the other answer is correct. To get the loan constant under this scenario, divide by $50,000,000. You should get 0.07265, or 7.265%. Less
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PMT = [r(PV) / 1-(1+r)^-n] PMT = payment r = interest rate PV = present value n = number of payments PMT = -$3,632,445.57 This is the constant rate for the amortized loan over 30 years. Less
Differentiate your skills from that of the positions line manager.
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My resume clearly reflects a depth and diversity of real estate, construction, facilities and maintenance experience that exceeds the reporting manager and would be a great addition to Coborn's, strengthening the team. Less
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I’m a fast learner and I give 100% every day
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I’m a very hard worker