10 Questions to Ask Real Estate Agents If you are planning to buy or sell a house, it can be an intimidating process. You would need the guidance of a top realtor or real estate agent to get you through both the processes. A real estate agent would help you navigate through the legalities of buying or purchasing a property. Whether a home is being bought or sold, there are a few potential questions you should ask before hiring an agent and signing a contract.
● Are you licensed? It is crucial to ask a real estate agent if he has the license to carry out the transactions of an agent or not. The question at times may seem unnecessary, but it would avoid you of many frauds. The license should be checked with the local real estate board. ● What is your experience? The experience of a real estate agent should be known to the clients as well as his success rate in completing transactions. Determine how long the agent has been in the business. If a real estate agent has successful deals in his bag means that he
is on real estate laws and the longer he has been in the industry means that he is good at tackling issues that arise in buying and selling properties. ● What is your fee? The fee for real estate brokers and agents varies according to the success of the agent in the business and the interest of the client. Therefore it is imperative for the sellers to know what commission they need to pay when the house is sold. ● How much is my home worth? It is critical for the sellers to know the answer to the question when they are ready two lists the house on sale. The sellers should know what they should expect from the sale of the house so that they can decide the money they will get. ● How much can I afford? This is a question that should be asked by prospective buyers. Good real estate agents should assist the clients in figuring out a budget to buy a home. The client should be provided by a list of mortgage brokers with whom they have worked before who can help to predetermine and pre-qualify the amount for the client. This is an add-on service a real estate agent can give to the client. ● What are the area's comps? 'Comps' are the price of a home the agents used to determine. From similar houses, you can have an idea of the price trending in the neighborhood. A buyer and seller both should ask this question. This gives a brief idea to the buyer and the seller about the worth of the property being sold or bought. ● How to begin the agreement and how it can be terminated? You will require a contract with the agent in case of buying as well as selling a property. This allows the agent to talk on behalf of the client and also clarifies any fee and gives you a surety in written. At times other agents may step in so it is vital for the client to know how to terminate the former contract and the cost that would involve for it. ● Do you have a website? Having a website helps the sellers as well as the buyers. The clients can see the properties listed to buy and sell on the site of the agent. ● What happens if I am not happy with your service?
The buyers and sellers should have a guarantee if they face any problems with the agent. Generally, the agent gets paid after the transaction has been processed and closed fully. So they make sure that their clients are happy and satisfied. This would avoid any interference with their commission. � When can I move in? This is a question usually asked by the buyers when they find a home of their choice. The answer can be given after the escrow is done. 'Escrow' is a deed of property held by a third person with specific conditions that have to be satisfied. For example, inspection of the property, title search, repair in any of the agreements if required, transfer deed from the owner to another. By asking these questions to a real estate agent will help you get the best deals and get the dream house. ​Fastexpert is always there to help you when it comes to buying or selling a property. Source: https://www.linkedin.com/pulse/10-questions-ask-real-estate-agents-fast-expe rt/