In Show 060 – What Questions to Ask a Real Estate Agent when you Buy originally broadcast on Facebook Live on Monday 12 February 2018 we explore this interesting topic.
As part of our series on investing in property we wanted to give you some tips about how to deal with a real estate agent. There are a ton of questions you’re going to want to ask. Make sure you ask them before you sign the contract! We’ve helped many people navigate the sometimes tricky world of real estate. Over that time we’ve come up with the top 5 questions you need to ask.
How long has the property been on the market?
Some people disagree that this is an important question but it really does matter. If the property has been on the market for a long time the owner may be much more eager to make a deal. The same goes for the real estate agent.
Will the seller negotiate on price?
This might sound faintly ridiculous. After all, everyone wants the most money they can. You might not always get the answer you want but it will allow you to glean some information you can use in later negotiations.
Why is the owner selling?
If you know why they’re selling and if there is a deadline attached to that sale you will be able to tell just how eager they are. If you find out that they are moving out of town or overseas you’ll know that they are eager to sell as quickly as possible.
Has there been any offer? How much was the offer?
If there have been previous offers and you know how much they were you can alter your offer to meet or beat it.
What is the lowest offer they seller will accept?
A good agent will never answer this question but luckily not everyone is a good agent. You’d be surprised how often you will get this question answered.
This isn’t an exhaustive list by any measure. There are tons of other questions you”re going to want to ask. But this is the five that you should start with in order to get a good sense of what negotiating strategy will be most successful.
More about this Show
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