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Questions to ask your prospective real estate agent

Questions to ask your prospective real estate agent

Australia is a property-hungry nation, with many of us turning to the real estate industry in the hopes of securing a dream home, lifestyle, or assets that can build a future fortune. The experts who make these dreams a reality are the humble real estate agents. If you’re looking to sell an existing property or make the commitment to an investment property, you can’t go wrong by bringing an experienced agent onto your team.

 

One of the first ports of call to make sure your real estate endeavours run as smoothly as possible will most likely be to your local real estate agents. After all, they know the region, they’re active in the industry daily, and they’ll be able to bring a deep understanding of current property values to the table for your benefit. However, before you commit to any kind of relationship, it’s important to gain some insight into WHO your agent is and how they conduct their business. Any kind of property sale or purchase is a big decision, and knowing that you relate to and can work with the person who will represent you throughout this process is integral.

 

Here’s some tips on questions to ask when talking to prospective agents looking for your business…

 

  • What have you sold in the area recently? Any active real estate agent will be able to give you insight into their recent sales activity, including any areas they specialise within. If they can prove a strong track record of recent sales on comparable properties that have fetched strong results, that’s a great foundation for your conversation to continue.

 

  • What sales price do you think is achievable for my property? It’s important for you to understand whether you’re working towards the same goal as any prospective agent. If they believe your home will achieve far less than you’re hoping for, it’s crucial to understand why and to have an honest conversation before committing to moving forward together. After all, they need to be motivated to achieve the results you (realistically) expect, and if your expectations are out of line with the market, they’ll be able to clarify this based on sales histories.

 

  • How long do you believe the sales process will take? Is the market moving quickly or is it trudging along? Again, this is a question that helps to set mutual expectations and an understanding of workflow.

 

  • What kind of advertising will you carry out for my property? In our modern day and age, digital advertising may be all that’s required to sufficiently capture the attention of potential buyers. Depending on the region and the market, traditional advertising in the form of newspaper ads and brochures may still be a healthier option. Discuss this with your prospective agent and make sure there’s clarity as to whether or not they’ll bear these costs, or if you’ll need to front up for these advertising spends.

 

These simple questions work on your behalf to set expectations and create a mutual understanding from the very beginning.

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