Real Estate Agent interview questions and answers

RERA is the Real Estate (Regulation and Development) Act, and each state has its own RERA authority. Most new projects above a minimum size must be registered before they are advertised or sold, and real estate agents must also register with the state authority. To check a project, I search the project name or registration number on the state RERA website. It shows the promoter details, approvals, the declared completion date, carpet area of units and quarterly progress updates. I tell buyers to check it themselves too, and I put the RERA number of the project and my own agent registration number on every advertisement I share.

Carpet area, under RERA, is the net usable floor area of the flat, excluding external walls, service shafts, the exclusive balcony or terrace, but including internal partition walls. Built-up area is carpet area plus the thickness of walls and usually the balcony. Super built-up area adds a share of common areas like the lobby, staircases, lifts and sometimes the clubhouse. Developers must state carpet area for sale under RERA. When I show a flat, I give the carpet area first and explain the loading, so a buyer comparing two projects compares like with like. A 1,000 square foot super built-up flat may have only about 700 square feet of carpet area.

I start with the title: the seller’s sale deed and the chain of previous deeds, ideally going back several transfers. I ask for an encumbrance certificate to check for mortgages or other charges, and if there is a home loan, a statement and the bank’s letter on how it will be closed. For apartments, I check the occupancy certificate, the approved plan, the share certificate or society membership, and a no-dues certificate from the society. I also check property tax receipts, electricity bills and, where relevant, the mutation or khata in the seller’s name. I always suggest the buyer get a lawyer’s title report before paying the token amount.

I use a comparative market analysis. I pull recent registered sale prices for similar flats in the same building or area, adjusting for floor, facing, age, parking and condition. I also look at current listings, but I treat asking prices as the ceiling, not the market. For a 2BHK in Wakad, the seller wanted ₹92 lakh because a neighbour had asked that much. The actual registered sales of similar flats in the past six months were between ₹80 and 85 lakh. I showed him the data and suggested listing at ₹86 lakh. We got three offers in five weeks and closed at ₹84 lakh.

On the first call, I ask about budget including all costs, whether they will take a home loan and if they have checked eligibility, preferred areas and why, must-have features like floor, schools nearby or parking, and when they need to move. I also ask who else is involved in the decision. A buyer who knows their loan eligibility and has a move-in date in three months is a hot lead. Someone just looking with no budget clarity goes into a nurture list with monthly updates. This lets me show only five or six matching properties instead of fifteen, and my visit-to-deal ratio improved a lot.

I suggest the buyer get an in-principle eligibility check from two or three banks before we finalise a property, so we know the real budget. Once the deal is agreed, I explain the steps: application with income and KYC documents, the bank’s legal check of property papers, a technical valuation visit, sanction, and then disbursement at registration. For resale, the bank pays the seller or the seller’s lender directly. I tell the buyer that the loan is based on the bank’s valuation, so if the valuation is lower than the price, they must fund the gap. I keep all parties updated so the registration date is not missed.

Before the visit, I confirm the time with the owner or the developer’s team, visit the flat myself if I have not seen it, and prepare a sheet with the carpet area, price, maintenance, parking and nearby schools and hospitals. I plan the route so the buyer sees the approach road and neighbourhood. At the flat, I let the buyer walk and ask questions, and I point out both good points and issues, like west-facing heat or a noisy road, before they notice. I note their reactions and ask what they liked. Afterwards, I send a summary the same evening and suggest the next step.

Once the owner and tenant agree on rent, deposit, lock-in period and notice period, I prepare a leave and licence or rental agreement covering these terms, the maintenance split, painting and repairs, and an inventory of fittings. In cities like Mumbai and Pune, leave and licence agreements must be registered, which can be done online with biometric verification. I remind the owner to complete police verification of the tenant as required locally. I collect copies of ID from both sides, confirm the deposit is paid by bank transfer, and hand over keys only after the agreement is signed. I also record meter readings on the handover day.

I first find out what matters to each side beyond the price. In one deal, the seller wanted ₹1.12 crore and the buyer offered ₹1.02 crore. I learned the seller needed the money quickly for a new flat, while the buyer had a sanctioned loan and could close fast. I shared recent comparable sales with both, which put the fair value around ₹1.06 to 1.08 crore. Then I proposed ₹1.065 crore with registration in three weeks and the seller leaving the modular kitchen and ACs. Both agreed. I never tell one side a false offer from the other; I only share what I am allowed to.

I explain that stamp duty and registration are state charges paid by the buyer on top of the agreed price. They are calculated on the higher of the agreement value and the government’s ready reckoner or guidance value for that location. Rates differ by state and sometimes by the buyer’s gender or type of property, so I always check the current rate on the state’s website for each deal. I give the buyer a total cost sheet: price, stamp duty, registration fee, legal fees, brokerage, society transfer charges and loan processing fees. Buyers appreciate knowing the full amount before they commit.

I focus on a few micro-markets, around eight societies near Baner, and become the known agent there. I stay in touch with society managers and security staff, who tell me when owners plan to sell or rent. I send owners a quarterly note on recent deals in their building. When an owner calls, I offer a clear plan for an exclusive mandate: professional photos, a price backed by data, listings on major portals and weekly updates. In return I ask for 60 days of exclusivity. About 40 percent of my listings now come as exclusives, which means fewer wasted visits and faster closures.

A buyer and seller had signed the token agreement for a ₹75 lakh flat, but a week before registration the bank’s legal team found that the society share certificate was still in the name of the seller’s late father. The transmission was never completed, and the buyer backed out. I felt I should have caught it. I helped the seller complete the transmission with the society, which took six weeks, and then brought back two earlier interested buyers. One bought the flat. Since then, I check the share certificate and society records at the listing stage, not at registration.

A seller once asked me to find a buyer who would pay part of the price in cash so the registered value could be lower. I told him plainly that I would not be part of it. Cash dealings in property are illegal above certain limits, the buyer’s bank would not lend on unrecorded value, and both sides could face tax and penalty problems later. I explained that stamp duty is charged on the higher of the agreement value and the government guidance value anyway, so the saving was small compared with the risk. He was annoyed at first, but agreed to a fully recorded sale. We closed it a month later with a loan-based buyer.

I was helping a family find a 3BHK in Kharadi and showed them eight flats over three weekends. Then they bought one through another broker, a flat I had not shown because I had not followed up with that owner. I was frustrated, but I called the family to wish them well and asked for honest feedback. They said the other broker responded faster, sending options within hours of a new listing. I realised my listing updates were weekly. I set up alerts on the portals and a WhatsApp list for active buyers, so they hear about new matches the same day. The same family later referred their cousin to me.

A buyer I had helped book an under-construction flat called me angry because possession was eight months past the date in the agreement. I did not defend the developer or make excuses. I checked the project’s RERA page, which showed the revised completion date and progress photos, and shared it with her. I arranged a meeting with the developer’s customer relations head, where she got a written possession schedule. I also told her she had rights under RERA, including interest for the delay, and could file a complaint with the authority if needed. She got her flat four months later and still sends me referrals.

In my internship at a property consultancy, my first task was calling 50 owners who had listed flats on portals, to offer our services. The first day I made 30 calls and got hung up on most of them. My manager listened to a few calls and told me I was talking too much about our company and not asking about their needs. The next day I opened with one question: whether they had got enough serious buyers yet. Conversations became longer, and by the end of the week I had set up four meetings for my manager, two of which became listings.

One Sunday I had two site visits planned, a registration at the sub-registrar office moved to the same morning, and a new buyer who wanted to see a flat before another buyer booked it. I listed what could not move: the registration, since both parties and the bank were there. I asked a colleague to take one site visit, briefing her fully on the buyer’s needs. I called the second buyer and moved her visit to the evening, explaining why. I met the new buyer at the flat during a break in the registration. Everything happened that day, and I learned to keep Sunday mornings free of fixed visits.

I am comfortable with it because I know how the business works. Deals can take weeks or months to close, so income is uneven. I plan by keeping three months of expenses saved and by mixing quick rental deals, which bring steady monthly income, with larger sale deals. In my current role, my fixed pay is small, and about 70 percent of my income comes from commission. I would like to understand your commission split, when it is paid, whether after registration or after the client pays, and how leads from the company are shared, so I can set realistic monthly targets.

You focus on resale and rentals in west Pune, which is where I have worked for three years and know most of the societies. I prefer an established brokerage because of the listing volume, legal support for documentation and a brand that owners trust when giving exclusive mandates. I also noticed your listings online have proper photos, carpet area and RERA numbers, which tells me you work honestly. I would bring my network of about 150 past clients and owners, and I want to grow into a team lead role, which you have a clear path to, based on what your agents told me.

Yes. Weekends are when most buyers and families visit properties, so Saturday and Sunday are my busiest days. I take a weekday off instead, usually Tuesday, and my family is used to this schedule. I have a two-wheeler and a car, and I plan visits by area so I am not crossing the city three times a day. On average I do eight to ten site visits a week. I also use video walkthroughs for NRI clients and for a first look, which saves travel for everyone and filters out properties that would not suit the buyer.