3 More Questions to ask a Real Estate Agent
At 1850 Realty, we are a resource for you. We wanted to add another post addressing questions we have fielded recently, especially those who have an agent that they aren’t exactly thrilled with. The home buying/selling process should be handled with care by a professional. Here are three more questions to ask:
1. Do you work in real estate full time? Having someone say off the bat that they are not available on X day of the week isn’t confidence inspiring, especially if it is a weekend. If an agent has another (primary) line of work, that should be disclosed as well. Working around your agent’s personal days can cause delays in your transaction. It can also form a wedge in your communications. Begging the question: did we hire the right person?
2. How well do they know the options available? This ties into number one. Example: a client finds the one after years of scouring the neighborhoods in a specific area. They are motivated to buy, but also need to sell their home. This is where a savvy full time agent can put a deal together to keep all parties happy and whole. Does the buyer simply sell? What if the seller on their dream property won’t accept a contingent offer? Could they lease out both properties until they have equity in hand to buy? The combinations can seem overwhelming. In real estate, everything is negotiable. You need someone who knows what to ask for in the first place.
3. What is your list to sold price ratio? Many part time agents “buy the listing.” This means they tell the seller that they can get an inflated price for the property, when in fact they are just setting unrealistic expectations. Any listing agent whose sold prices are consistently under 97% of list is overpricing homes. Example from the wild:
This home ultimately languished for almost a year on market, and sold for 78% of original list. OUCH! This agent is a self proclaimed top producer as well… I guess averaging four home transactions a year in your career is enough for some folks to make that claim.