Dealing with a real estate agent could be one of the most challenging tasks. To make sure you are on the right track, National Brokers Network has gathered these guide questions you should ask your agent before making a deal:
- Based on what you have sold in the area, what do you think is the value of my property?
It is necessary to know how familiar and proactive an agent is in your immediate area. He or she should be confident enough in answering such questions. Your agent should also inform about how realistic the price you suggest for your property. Everything should be based on the market conditions and local supply and demand.
In line with the value of your property, you should also consider checking how many buyers your agent is working with, and whether these prospects would pay the price suggested by your agent. This will let you know whether your agent is working with buyers who are interested in buying a property similar to yours—which will not only make it easier for the agent to sell your property, but also gives you an indication as to how successful they are. Keep in mind that agents who are active in the market always get more referrals. It would be really helpful to know more about their experience or their previous and current clients.
- What is your method of sale you suggest for our property, and your marketing plan to get the best price?
You need to get an excellent advice regarding the promotion of your property. Your agent should discuss all the various methods of sale, such as auctions, property treaty, and other tools you need to boost your marketing plan. They should also explain the pros and cons of each.
It is also advisable to check if your agent is casting the net wide with their marketing techniques. It should also include the expense of marketing that should also be considered an investment in your final selling price. Implementing both online and print marketing is a huge advantage. This will help you expand your network and find more prospect buyers.
- What is your commission rate?
Finally, the commission rate. Of course, the meeting will not end without discussing how much commission your agent is getting. He or she should have excellent negotiating skills as a basic prerequisite, and should be able to negotiate a fair fee for themselves; however, this doesn’t mean you should always go for the cheapest agent. Before you hire them, always make a background check. Dig deeper into their portfolio.
Hiring a good agent is part of your property investment. Always consider their credibility and experience.