Buying a home is one of the biggest investments a person will ever make. After all, the current average mortgage payment of $1,275 on a 30-year fixed mortgage, and the median time people live in their homes is 13 years. Something this huge can either positively or negatively impact a buyer or seller’s life, leading many to seek the guidance of an expert real estate agent. So, how exactly do you go about finding an expert to guide you through this process? Here are three of the most important types of real estate questions to ask potential Realtors whether you are buying or selling a home.
QUESTIONS ABOUT THEIR EXPERIENCE
While the length of time someone has been an agent isn’t a dealbreaker, it does help to know what they’ve done with their time as a real estate agent. Their average list price to sales ratio, how many homes they closed and the length of time it took for their buyers to find a home will help you get a feel for a Realtor’s track record with clients. It’s also important to know what their current workload is. After all, you want to make sure you will get the attention you deserve!
QUESTIONS ABOUT HOW THEY OPERATE
The easiest set of real estate questions to miss revolves around the process of buying or selling a home. Knowing how long it takes, the step-by-step process and how they communicate will help minimize frustration down the line. If you are selling a home, you will learn how the agent will determine the listing price of your home. Look for a Realtor who provides a “Market Analysis” of your home and compares it to recently sold homes in your neighborhood. Pricing your home correctly is crucial! Be wary of agents who agree to list higher than what your house will go for. These individuals might be more concerned with getting your business and less about doing what’s best for you!
Another important factor is how they plan to market your home. When selling your home, you want to profit as much as you can, in the ideal timeframe with as little stress as possible. The more people who see your home, the more opportunity to find qualified buyers. Listing the home in the MLS, sending email blasts, promoting the home on social medial, and holding open houses are ways an agent will market a home.
One of the biggest frustrations in the home buying or selling process is inadequate communication between you and your Realtor. Your potential agent should have an open line of communication throughout the entire home buying or selling process. If your Realtor works within a team, he or she should explain who will be working with you, what you can expect from those individuals and when you will be hearing from them.
QUESTIONS ABOUT THEIR KNOWLEDGE
Ultimately, you should find a Realtor who is knowledgeable of the area. Asking questions about trends, neighborhood features, and home condition will help you get a feel for if they are in the know. Do they tell you the good along with the bad? Or do they only tell you what you want to hear? With that said, all agents must abide by fair housing regulations.
A quality real estate agent should know the ebbs and flows of the current market, and how to use that knowledge to benefit you. We are currently in a seller’s market, which can be a challenge for buyers. Find an agent with tips and tricks on how you can get a leg up on other buyers! When looking at houses, your Realtor should be able to provide valuable input on the condition of the home. You want a Realtor who will give you an honest opinion rather than telling you what you want to hear. On the seller side, your agent should be able to highlight the benefits of your home as well as acknowledge anything that might give potential buyers pause. He or she should also be able to tell you which home improvements are worth the time, money and effort, and which aren’t.
When looking at houses, your Realtor should be able to provide valuable input on the condition of the home. You want a Realtor who will give you an honest opinion rather than telling you what you want to hear. On the seller side, your agent should be able to highlight the benefits of your home, as well as acknowledge anything that might give potential buyers pause. He or she should also be able to tell you which home improvements are worth the time, money and effort, and which aren’t.
Another key question to ask potential Realtors is their knowledge on current mortgage rates and how that effects your buying potential. We all know that this question has many components to it (market performance, supply and demand, etc.), but it’s important to be informed with the latest as it can help you to make the best decision for you and your family! If you’re in the process of budgeting and planning to buy a home it’s always recommended knowing what your options are at the rate available and how it can impact your future monthly mortgage payment.
Buying and selling a home can be a rewarding, and sometimes stressful process. These real estate questions will aid you in finding a Realtor you can trust. One who will both guide you through the process and keep your best interests at heart!
Since 2000, the Blythe Real Estate Team has helped families and individuals buy, build and sell residential homes in the Omaha area. From new construction and existing homes to commercial real estate, we have the expertise to assist our clients with their real estate needs!
Hayley Fleissner, Team Agent
Hayley has been in the real estate industry since 2017. She has a true passion for helping others, listening to their needs and making their goals a reality. She would be honored to assist you in your home buying or selling process — give her a call today!
Contact Hayley today at (402) 640-2171 or firstname.lastname@example.org.