A great real estate agent respects that buyers are sellers too. And as the premier real estate agency for Everton Park, Stafford, Stafford Heights and McDowall, we know that people often buy and sell in the same local area, so it’s in everyone’s interest that buyers and sellers alike get what they came for.
So the agent is hired by the seller, but as a buyer how do you get the most from the agent? Here’s the clever part – ask the selling agent what might sometimes seem like obvious questions – and listen closely to the answers. Repeat, listen closely to the answers …
When buying a home, here’s our top five questions to ask an agent:
- Why has the seller decided to sell now?
Rather than asking the typical, “how motivated is the seller?” asking ‘why now?’ will give you far more insight into what the seller really needs and it might also tell you how urgent the sale is.
2. How long has the property been on the market?
If the house has been on the market more than three months, ask the agent why they think it isn’t selling. Are there problems that other people have realised that you haven’t? Is it overpriced? A long time on the market might mean the seller would accept a lower price, which leads to …
3. Have you had any offers?
The best follow-up question to, “How long has the property been on the market?” is “Have you had any offers?” Some buyers miss the fact that they are negotiating against two entities: the seller and other potential buyers. Putting these two questions together will tell you a lot about how other buyers are reacting to this home.
4. What price do you think the owners would accept?
Ask the agent. You have nothing to lose by asking and often the agent’s answer can help you clarify your position.
5. Who set the price: the vendor or the agent?
A good agent will provide you with their justifications for the asking price and if needed will be able to provide recent, comparable sales data. As a bonus, you will find out a lot about the agent answering the question. If you are shopping for an agent to represent you, their ability to answer (or not) will tell you a lot about their expertise. Also, if the vendor has set the price, this really is an indicator to thoroughly check the market to ensure the price asked – or more specifically your offer – is realistic.
So, there you have it, the very best questions to ask when buying a house. Our team is always happy to answer your questions, because at our core, we believe in respect, transparency and truthfulness.
A great agent will always work to ensure both parties get what they want.