Top 5 questions to ask a real estate agent
28 March 2012
When you attend an open inspection it’s important to get as much information from the real estate agent as possible. The answers can sometimes make or break the deal, and with the right information, you can make the right decision.
Here are some essentials.
Why is the property on the market?
The answer to this determines how quickly the owner would like to sell. For instance, if they are selling in order to buy another home, they may be more willing to negotiate in order to get into their new home sooner. Knowing the seller’s motivations can work to your advantage.
How long has the property been on the market?
If a property has been on the market for an extended period of time, the seller is more likely to be willing to negotiate on the price.
When was the property built?
This helps you determine how much work might be needed in the future. Older homes will generally need more maintenance and repair, unless they have recently been renovated. The age of the property can also help determine what types of materials were used to build it.
How many owners has the property had?
If a property has been juggled from one owner to another way too often – it’s worth considering why.
What are the council and water rates?
If the rates seem steep, can you continue to afford them along with other expenses such as insurance and utilities?
While these questions are a good start, it’s also important to do some more research on the suburb where the property is located. For example, what is the average price for that location, what are the facilities available in that area, what do the neighbours think?
If you can get the answers to these questions before you go to the open inspection, you’ll be in a better position to make an informed decision.