Top Questions to Ask your Real Estate Broker
Finding a good real estate broker is no child’s play and one that you must carry out with diligence. A good agent means ease in finding the perfect home, best value for your money and also a smooth transaction. Here are some of the questions that you must ask your agent to find out if you are getting the best deal.
One of the key questions that you must ask your agent is about his license to work as a real estate broker. Any agent who is licensed by the legal board of realtors will not only have considerable experience but will also be more honest and forthright in their dealings. This always works out to your advantage as the agent will not just be interested in his share but will be genuinely interested in helping your find your dream home. The second question for your agent is ‘why are the owners selling?’ It is not that you are interested in finding out about someone else’s personal details but knowing the reason behind the sale will put you in a better place for negotiation. A desperate house owner who is getting a divorce will be ready to negotiate more than someone who is moving into a new home. And the best person to find out this information for you is your real estate broker.
Another question to ask your broker is how long a particular house has been on the market. This also gives an indication of how much you can negotiate with the current owner and also the value of the property. You must also find out from your real estate agent what the price per square foot in a particular neighborhood is, where you have seen a prospective house. This will help you in finding out if you are being overpriced or underpriced for the property. Also ask the broker is he can provide with details of similar and comparable sales in the same neighborhood; this is a question that your bank financier is sure to ask you and this way, you can be ready with the answer.
You also need to find out from your broker if this particular house is the most expensive in the neighborhood. If it’s a good deal that you are after, and then understand that the best prices are always the middle-priced ones. Get your agent to find out if the owners are upto date or behind on their property taxes. If they are behind, they you can go in for a hard negotiation. Also ask your agent about other details of the neighborhood like car repair shops, wetlands, landfills, zoning changes and garbage routes. These may seem like small tidbits but become important once you move into the neighborhood.
It is also best to ask your agent to find out about the monthly utility bills before you sign on the dotted line. If the house has wall-to-wall carpeting, find out what’s beneath the carpets. Old home have hardwood but the more modern ones have plywood. It is best to buy a home which has hardwood walls as it is more durable and also has a higher resale value.
Whats happening in the Market?
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