Whether buying a house for your family or selling an investment property, working with the right real estate agent can make all the difference in securing a favourable deal and ensuring the transaction flows smoothly. The agency you choose to work with should have the experience and industry savvy to guide you seamlessly throughout the process of inspecting a house, marketing to the right demographic and so on. Regardless, it helps to have a selection of directed questions on hand to ask when buying or selling a property.
In this article, our experts at Noel Jones have provided 12 real estate questions to ask your agents that will ensure a better result on the market.
6 Questions to Ask Real Estate Agents When Buying a House
When you’re looking to buy a house, it’s essential to ask your real estate agents the right questions to ensure you’re getting the best deal and finding a home that meets your needs.
Here are some questions to consider asking a real estate consultant when inspecting a house:
1. Why is the current owner selling the property?
Understanding the motivations behind why the existing owner is selling the property will provide you with valuable insight during the negotiation process. Is it to capitalise on the market? To manage financial distress? Perhaps there are costly maintenance fees?
2. What is the condition of the house?
Make sure to ask about the house’s age and condition, as well as any recent updates or renovations that have been done. It would be best if you also asked about the age and condition of key systems such as the roof, heating and cooling systems, and appliances.
3. How long has the property been on the market?
The real estate cycle is rarely predictable, but it could be a red flag when a property has been on the market for a long time. Are there plenty of similar properties drawing market demand? Maybe some adverse findings have arisen after inspecting the house? This could also be an excellent opportunity to negotiate a lower price if the seller is motivated to sell.
4. Are there any issues with the property or land?
Don’t forget to ask questions around any issues with the property itself, such as structural problems or zoning issues. If your real estate agents cannot clarify these matters, it can cost you more in the future after buying the house.
5. How negotiable is the price?
When buying a house, the investment size will largely dictate your decision. As such, it’s important to know if the seller is open to negotiating the price, as this can impact your budget and ability to make an offer.
6. What is the surrounding suburb like?
Buying a house is more than just the property itself. Pose questions to your real estate agents about the local schools, crime rates, and any other pertinent information about the area.
6 Questions to Ask Real Estate Agents When Selling a House
Reliable real estate agents are knowledgeable about the market and have experience in your specific area. It is important to ask potential agents questions that will help you determine if they are the right fit for you and your home sale:
1. What is your experience in the real estate industry?
Asking about the real estate agent’s experience can give you an idea of their level of expertise and knowledge of the local market.
2. How much is my property worth in the current market?
You need a realistic idea of what your property is worth amid current housing supply and demand, as well as the broader economic factors that impact house values, so you can set an appropriate asking price.
3. How will you market my property?
Ask your real estate agents questions about their marketing strategy and how they plan to showcase your property to potential buyers.
4. What are the fees for your services?
Have your agents provide clear information around the fees associated with the real estate agent’s services and how they will be paid.
5. What steps can I take to maximise my asking price?
Your real estate agents may have recommendations for how to prepare your property for sale and maximise its value. These include introducing staging furniture, affordable landscaping works, and 3D inspection technology to help online viewers.
6. What is the average selling period in the current market?
Knowing the average selling period can give you an idea of how long it may take to sell your property and help you plan accordingly.