Maurie Backman, of The Motley Fool, writes in the USA Today, "If you're looking to sell your home, before you sign on to work with a real estate agent, make sure to get the answers to these 4 questions." 

It's important to be on the lookout for advice that is being given to today's consumer through mass media like the USA Today and The Motley Fool. It's easier to pass a test when you already know the questions and have the right answers prepared. 

Here are Ms. Backman's "4 questions you should ask before signing." 

1. How well do you know this area? 
2. How many clients are you working with now? 
3. How long of a contract must I sign? 
4. What commission do you charge? 

Let's take them one at a time, OK? 

1. How well do you know this area?

This is a really vague question, more of a conversation starter, but the answer is obvious. If you didn't just move to the area and get your license, you probably know the area. If you're serious about succeeding in real estate, though, you have made it a point to know as much about the area you work in as possible. Be prepared to prove it and show off your local knowledge.  

2. How many clients are you working with now?

What's important is not how many clients you are actively working with right now, but how many clients you have in your Book of Business – people you have close personal relationships with, who do repeat business with you and refer their friends and family to you. This is the foundation of a successful business, and it allows you to deliver world class service to every client. Show them your Core Values, especially – To always make my client's #1 goal, my #1 goal." 

3. How long of a contract must I sign?

This is a fear-based question, maybe based on past bad experiences, so handle it before it comes up with an easy out clause. If they're not happy, or you're not happy, you don't want to be stuck in a dysfunctional relationship, anyway. You want clients who will validate and refer you. 

4. What commission do you charge?

Commissions are negotiable, and quoting a commission is premature until you have mutually decided to work together and agreed on a list price. Set this aside until then with this dialogue – "I'm willing to work for whatever commission you and I can agree on, and that is usually determined by how much you want to get for your home, and how long you give me to get you that much." 

There is a very good reason why Sellers have insisted on commissions being a percentage of sale price rather than a flat fee or a discounted fee – commissions provide a financial incentive that protects and maximizes a Seller's equity. 

Now that you know the questions and the answers, this particular test should be a breeze. 

The Floyd Wickman Team blog by Mike Pallin