While you pursue the listings of homes for sale, it is easy to contact the real estate agent who first pops up and completes the deal. However, real estate agents possess varying strengths, capabilities, styles, and fee structures. Digging in a little before finalizing the agreement can help you save ample money. In light of this, below are a few questions one should ask a real estate agent to get a better sense of whether the agent is a good fit for your needs.
What are the exact fees?
Real estate sometimes charges a commission based on the sale price of the house. The seller agent gets a preset percentage, whereas the buyer’s agent receives another percent. Ensure that you learn the get-go prices and rates with no unraveling of surprises later after the purchase.
Are the fees negotiable?
Even a mere two or three percent can become a lot of money on a real estate home. That is why you need to find out if there are any negotiations involved on their fees. Ask if they factor in any local market conditions while setting fees and how different situations have the ability for the costs to fluctuate. Real estate agents usually charge a high price than the actual so that when the opposite party negotiates, they are willing to take the brunt up to a certain extent. Therefore, when you deal, make sure you keep a reasonable price after researching the other properties in the location. Choose a reputed agent who can offer you new homes for sale Calgary.
Is there any termination policy?
When you have seen a few properties with your real estate agent with no luck, it is better to know your options. Knowing this in advance will help you keep any unnecessary trouble at bay. Moreover, one should understand that a signed contract is legally binding. However, both parties cannot change the terms as and when they want without facing the consequences. Acknowledge and clarify all the specific details, and make sure you have these in writing. Note down the other commitments that the agent makes before entering into a formal partnership.
Ask them about their negotiation strategies
Try to understand the agent’s business approach. Such a strategy can help you in many home buying circumstances. Knowing how well your agent can help you in front of aggressive and unbending sellers is crucial. Will they advise you to pay or negotiate the price to your bottom line is essential. Asking them how they will tackle certain situations and problems will ensure you and the agent are on the same page about the buying process. Therefore, before embarking on the real estate journey, clarify all negotiation-related doubts.
Seek about the price range that they work with
A real estate agent that possesses houses in your budget will work best for you. Tell your agent about your price range, and ask them about their choices of homes. Do a background check to find what type of properties they have sold in the past. It will give you an idea about their sales background. A real estate agent closing multi-million deals might not entertain a first-time home purchaser. The opposite also holds that the agent working in an entry-level market space might not provide the appropriate level of services to the buyers with a lavish home requirement. Therefore, understanding the price range will help determine if the particular agent is the right fit for your home requirements.
How many sales have you achieved in the particular location?
The real estate agent you select should possess a proven track record of sales in your location. They should constitute recent deals and not the ones finalized years back. Moreover, it is best to ask them for discount rates for notable neighborhoods that they operate in. Learning about their past achievements will quickly help you put your trust in their services, obtaining a substantial return on investment.
Do they work with clients simultaneously?
Understanding their working approach will give you an idea about how they will provide their services to you. Ask them how many clients they take on at one time. Do they work with simultaneous clients or not? Most real estate dealing companies employ many agents to ease up the workload and deliver timely services to their clients. Avoid choosing an agent with an overload of clients that would not give you the due time, mostly keeping things on hold for an extended period. In contrast, an agent with very few clients might not have the exact idea of what’s happening in the local real estate market.
Ask about their services
A reputed real estate agent will offer a range of services that goes beyond home visits. They should educate you about the real estate market in your locality and help you make fair decisions. Moreover, they should know to handle tasks, such as inspections, closing, and provide advice on needed repairs. A well-rounded agent has the ability to act as your advocate and take you smoothly through all the processes and phases of the home buying process.
Do they represent both the seller and owner?
If the agent represents the owners and the seller, it might not occur as a good deal. The seller or owner always wants to sell at a high rate, whereas the buyer wants to buy as low as possible. Such an agent might not compromise the price and make the negotiation process more difficult for the potential buyer. Tread carefully with such agents, and as the deal might have less commission rate but a high overall price.
Once you clarify all your doubts by asking the above questions, you can go ahead with the home buying process. Asking all such questions puts you in a better position if there is any occurrence of discrepancies. Make sure you have all essentials written on paper so that no party can back off at the last moment.