Buying or selling real estate can be a difficult process. The more you do it alone, the more stressed you become. Inspections may be incomplete, and you may be in competition with other buyers/sellers. Therefore, it is important to find a reliable broker who can help you through the process. It’s best to be prepared, but how do you prepare? Ask a real estate agent the right questions. Let’s take a look at some of the most important questions you should ask your real estate agent when selling your home:
Do you possess a real estate license certificate?
All reputable agencies have a license certificate which you can find on their website, or they can show you in person, but be careful if you find your agency from some online sources. Make sure the person is an ERA approved broker or sales representative.
What are your charges and when do you have to pay them?
Real estate agents typically charge a commission of 1% to 5%, but this can vary depending on the level and value of the property. Sometimes they also require a down payment, and this format is common among real estate agents or mixed-use property managers. This fee may be cheaper than the first one, but you must pay the agent before your property is sold. There is a possibility that the real estate agent may not sell your house as expected. This way you can pay two different employees.
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 employee’s marketing skills, whether he is a good salesperson, and whether he can persuade customers. These basic questions can help you hire the right employee.
If all goes well, the employee can also be a valuable asset to your future endeavors. Finally, be sure to check their reviews to see if they are up to par.
