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5 Things To Ask A Real Estate Agent Before Purchasing A House

While you are on with your search for that perfect house, being aware of the questions you need to ask your real estate agent can result in offering you plenty of benefits as you save time, confusion and stress to a considerable extent. Your agent can be the most effective guide and give away several vital tips assuming that you ask the right questions.
Here are the 5 most important ones which you can inquire about.
1.      Why are you selling the property?
This happens to be the first question you should ask your real estate agent. It will come to your aid in assessing the property value and the selling time frame as well. Even though a few real estate agents may perhaps feel uncomfortable while talking over the intricate details, acquiring knowledge about the purpose at the back of the sale will present you a decent idea of the kind of seller you would be doing business with. It also proffers you with an intuition of their level of eagerness to sell the property. For instance, a person relocating to a different place for work will have more likelihood of selling the property faster as compared to someone who is just moving to a bigger house. Because of the urgency, you could even reach a deal at a lower price.
2.      How long has the property been put up for sale?
The price of a house, up for sale, depends upon the time length for which it has continued staying in the market. For the initial fortnight or so, the house remains as a property that evokes lots of interest and curiosity from real estate agents and potential home buyers alike. When the house, even after a couple of months, fails to find a prospective buyer, then it becomes more difficult to sell it. You should make a move in trying to find out more about such properties which hang around for so long. In fact, there may be an underlying reason for its long-drawn-out presence. A few owners find it ok to wait for years after quoting a price that is almost out of reach. But there are other sellers who may have desperation for selling the house and hence may accept a low-priced offer. Furthermore, if the real estate agent’s contract for selling the property is on the verge of cessation, you may expect the agent to align more away from and goad the seller in acceding to a lower offer price.
3.      What is the original asking price for the property?
Enquire about the originally offered price range from your real estate agent. You should also find out the several offers made and their corresponding prices, the number of times the seller declined a prospective home buyer, and if at all there was any successful deal before and the reason for it to fall through. When you explore these aspects, it gives a somewhat fair idea of the price the seller expects and by how much the erstwhile interested buyers considered the valuation of the house. By asking these pertinent questions you can present yourself as a well-informed buyer and the agents will not hesitate to give you honest clear-cut answers.
4.      Is the seller ready to negotiate on the price?
If you come across a house which you sincerely want to buy, then you need not be reluctant to ask your agent is the seller is flexible on price negotiation. The agent possibly will give you some valuable, relevant inputs before you go ahead and clinch the deal. By and large, expert real estate agents from Arnold Property Newcastle, affirm that Australian properties typically sell at 10 per cent below their originally expecting price. Nonetheless, this is contingent on the market scenario and the type of place. Hence, you must, for all time, do your own careful research and check the approximate worth of a property.
5.      What is the lowest price the seller is willing to accept?
In case you are engaged in a bargain hunt, you must remember to ask the lowest price which the seller is willing to settle for. While there are a few real estate agents who can directly give you the information, others may prefer furnishing a subtle indication. The intent behind asking this question is, suppose, if the real estate agent gives you an estimate of X as the lowest possible price, then it can be figured out if it is a property which you can afford or not.
Hope the above-mentioned tips will help you choose a good real estate agent.

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