Important Questions to Consider Asking Your Real Estate Agent

Why is the vendor selling? Knowing the answer to this could put you in a better position to negotiate a sale. While the agent is not obliged to tell you the answer, particularly if the seller has asked for confidentiality, in most instances they will be happy to share this information with you.

What did the vendor pay for the property and how long ago did they buy it? This can help you establish fair price but remember there are many factors to consider, such as capital growth, improvements to the home, the state of the market they bought in and current buyer demand.

How long has the property been on the market? If the property is a new listing you can expect the greatest amount of buyer interest at this time, however if it has been sitting on the market for a long time then this may put you in a strong position to negotiate price.

What do you expect the property to sell for? While you may think agents are willing to stretch the truth on this one, there are strict regulations and large penalties imposed on agents if they over quote the price of a property. The agent should tell you the same figure that he has told the vendor, however depending on buyer demand, this price can vary throughout the marketing campaign. It is also a good idea to ask the agent to give you a list of comparable properties that are either on the market or have sold in the last six months. This will help you to make up your own mind regarding price.

How soon do the owners have to move? Asking this question, opposed to “how long is settlement?”, will reveal if the vendor has bought elsewhere and just how eager they are to achieve a sale. Once again helping you know where you stand when it comes time to negotiate. Sell my home fast in Uniontown

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