Hiring a real estate agent: What should you ask the real estate agent?

Before you hire a real estate agent, make sure you ask these questions.

Hiring a real estate agent

Real estate is an excellent financial asset and perhaps one of the most expensive things you can ever own. If you are thinking of selling or buying a home, you would likely hire a real estate home agent. These professionals can help you find the right home if you are buying one and suitable buyers if you are selling one. This cuts your work in half, but you do end up paying an additional fee. 

To make sure that you get value for your money and all your needs are met, here are some questions that you must ask your real estate agent.

What should I ask an estate agent?

Here are the biggest questions in real estate that you must ask your agent before finalising any deal:

1. Has this home been on the market for a long time?

If the home you are interested in has been on the market for quite some time, the seller would likely be desperate to sell it. This opens doors for negotiations. Real estate prices are inherently high, and finding ways to negotiate the cost can be helpful in a number of ways.

2. At what prices have nearby homes been sold for in the past six months?

Finding out the prices of nearby homes will give you an idea of whether or not your seller is overcharging you. If the nearby homes have sold for the same price bracket, you can be certain that the seller is asking for a fair price. However, if the houses in the same area have sold for lower costs, you could take advantage of this cold market and strike a good bargain.

Related: Benefits Of Buying A Property In A Women's Name

3. What does maintenance look like on a home like this?

The cost of the house is not the only thing you spend your money on. Maintenance costs like water, electricity, home association fee, and more also make up for a sizeable amount. Ask your realtor about additional costs too.

4. How many owners has the home had?

The more owners, the higher are the chances of damage. If the house has been rented several times or changed ownerships, there are bound to be damages and wear and tear. Hence, inquiring about the number of previous owners can help you gauge the property’s current state.

Related: 5 Myths About The Current Real Estate Market

5. Why are the owners selling?

Most times, people sell houses for reasons like wanting a bigger home, while facing a financial crunch, getting rid of inherited property, moving to a new city, etc. However, sometimes there could be other reasons as well. It can be unnerving to move into a house that has witnessed any unsettling or horrific events like murder, death, theft, etc. So, it is always good to find out why the owners are selling the house.

6. How has the pandemic impacted real estate prices? 

One of the most important real estate questions in today’s times is the impact of the pandemic on property prices. A lot of people are willing to sell houses at a lower cost because of an immediate financial need. On the other hand, some areas have seen a hike in costs. Do enquire how prices have been affected in the area you are searching for a house in.

Related: How Did the Real Estate Industry Respond To The Second Wave Of COVID-19 And What Lies Ahead?

To sum it up

Now that you know what are the most asked real estate questions, make sure to bring these up when you see a realtor. Also, read 9 Important documents you will need while buying a house.

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