Real estate brokers are only as good as the homes in their listings and their relationships with other brokerages. Whether you’re buying or selling, ask friends and colleagues who have bought and sold similar sized homes in your area for the names of their brokers.

When you call the brokers, ask if they have access to a local multiple listing service (MLS). Also ask for three references. Call each one and ask, “If you could do it all over again, what would you do differently?” This question tends to draw out valuable information about a broker and the entire process.

If you’re selling:

• Look for brokers who have the best annual sales records and at least five years of experience.

• Invite the top three brokers on your list to your house separately. Each will ask about your home and discuss the selling process. Ask them to bring along their listing agreement. Also ask which homes have sold best in your area and why.

• Review the agreement. A listing agreement clarifies the commission, how the home will be marketed and how your home will be listed on the MLS.

• Ask the best brokers back to your home. During the second visit, brokers usually provide you with a sense of how they plan to market your home, what types of ads they will run and where and how they will market your home to prospective buyers and other brokers.

• Find out what price brokers believe they can get for your home. This information should be based on your home’s condition and examples of comparable homes that have sold in your area.

• Push back on the 6% commission if homes like yours are in high demand. Ask your broker to cut his or her commission by a percentage point or two to win your listing. If the market is soft, see if you can get a commission break by offering an "exclusive"—letting your broker show the home without putting it on the MLS.

• Reserve the right to take your home off the market for any reason or switch brokers if you are unhappy with the brokerage’s efforts. Brokerage agreements usually last 90 days while commissions are owed up to six months.

If you’re buying:

• Ask brokers about the quality of local public and private schools as well as property taxes and recent increases.

• Clarify how much you have to spend. Many brokers are seasoned and assume you can come up with more if you find a more expensive home you love.

• Establish a script and series of codes with a spouse or partner to avoid tipping your hand to the broker. Avoid on-site disagreements that can be reported back to the seller, and use signs like running a hand through your hair or adjusting your glasses when there are features you like or dislike.

• Use multiple brokers to ensure the widest selection of properties.

• Consider using a buyer’s broker who represents you, not the seller. Look for one with an Accredited Buyer's Representative (ABR) designation from the Real Estate Buyers Agent Council. You can find buyer’s brokers in your area with this credential at REBAC.net. Be sure to ask how you will be charged for the broker’s services.