Things to Ask Your Real Estate Agent

Things to Ask Your Real Estate Agent

Buying or selling a property can be a daunting process. The more you manage it on your own, the more stressful it gets. There may be open inspections and you might have to compete with many other buyers/sellers. So it is important to find a trustworthy Real Estate agent who can help you figure out the entire process. Your best bet would be to come prepared but how do you prepare? By asking the right questions to your real estate agent.

Let’s go through some important questions that you should ask your agent if you are selling your home:

Do you possess a real estate license certificate?

All well-known agencies will have a license certificate that can be seen on their website or will be shown to you in person but be cautious if you found your agent through some online sources. Make sure that the person is a RERA-licensed broker or sales agent.

What are your charges and when do you have to pay them?

Real estate agents always charge their commission from 1% to 5% but this can always vary depending on the location, and property value. Sometimes they also charge a fixed fee upfront and this format is common with online or hybrid real estate agents. These fees can be cheaper than the former but you need to pay the agent even before your property gets sold. There are chances that the agent is not able to market your home as expected. This way, you might end up paying two different agents.

Are there any other costs?

Make sure that all marketing costs like sale board, professional pictures, floorplans, and videos are included within the commission. 

How long are you tied to the contract?

There is always an agreement for marketing your home for a certain period which is signed by both parties. During this period, the agent works hard to find the right buyer for you. However, if you feel the need to end the contract even before the closing date, you might be liable to pay the agent certain costs.

How are you going to market my home?

A good agent will always have a plan in hand to advertise your home through online and offline methods. Buyers won’t know unless you put up a signboard or list your home on the Internet. Ask them how they will help you stand out against other sellers and if they will be conducting viewings.

What is the worth of my property? Is the area growing or declining?

A real estate agent always keeps track of the growing trends in the market and will be able to tell you if your area will boom in the next few years or if it’s better to sell it off at the earliest. They know exactly how much your property value is, based on the knowledge of what price similar homes in the area have been sold off for.

How early can you sell my home or do you always get the price that you ask?

This question can determine the marketing skills of the agent, if he is good at bargaining, and if he can convince the buyers.

These basic questions can help you hire the right agent. If everything falls into place, the agent might also become an important resource for your future projects. Lastly, make sure to go through the track record of the agent to determine whether they are on top of their game or not.