9 Tips To Help You Pass A Co-op Board Interview
Being invited to a board interview is a positive thing! A board interview is an opportunity for them to meet you and ask questions about the application you submitted with your Realtor®. Interview styles can vary from an informal get together at a board member's apartment to a formal interview with board members lined up panel style at a table and while you’re in the hot seat.
Sometimes even your Realtor® won’t know what type of interview you’ll be walking into, but we’ve laid out 9 things to remember that will set you up for success during your board interview.
1. Dress for Success and be early. Board interviews should be treated exactly like a traditional job interview. Attire and promptness matter.
2. Prepare for a lack of privacy. The board has a lot flexibility in terms of the types of questions they are allowed to ask you. Be prepared for anything and do not avoid answers to personal questions or come off as angered by the intrusion. This is just part of the process.
3. Know your application. You may likely be asked questions regarding the details of your application. It's important than you aren't stumped about the answers to those questions. You can bring a copy of your application to the interview if you do want to reference it. We recommend just making sure you remember the details you shared within your original application.
4. Couples should decide in advance who will answer what types of questions. Deciding this before hand will help you both seem very organized. One person can handle financial questions while the other can handle all other questions. Avoid discussing, or debating, the answers to questions in front of the board.
5. Unlike a job interview, DO NOT try to sell yourself. Let the board run the show and only answer questions asked. Boards rarely turn down applications for being too boring.
6. Never volunteer information. Especially avoid engaging in unsolicited conversations aside from basic cordial remarks and greetings.
7. Do not ask questions. Questions can often unintentionally convey negative information to the board. For example: "Do you have any plans to renovate the lobby?" is the kind of seemingly innocent questions likely to offend the board member who was in charge of the last lobby renovation. If you have any additional questions, you can direct them to your Realtor® or your Real Estate Attorney and they can help you get the answers.
8. A short interview is better than a long one. While there are no guarantees or specific rules, a short simple interview with a few questions and remarks is usually the best co-op board interview.
9. Do not expect an answer at the end of the interview. Usually the board will not give an answer until a day or two after the interview. Your real estate broker and your attorney will take the necessary steps to determine if you have been approved.
Have more questions about the process? Comment or email us at info@iarealtygroup.com