Questions To Ask Estate Agents: Take a look at our first part of a two part blog on The Home Buying Legal Process.
As part of the home buying process, you will need to select a buyer’s agent. This is someone has the experience in the UK property market and that will represent you during the home buying process. They will show you homes that have the features you want in the area’s you want. When selecting an estate agent, you will want to ask them some questions to ensure they are the right fit for you.
Below is a list of questions to ask estate agents and property professionals. Use this as a checklist and keep track of when you’ve asked the question as well as the agent’s answers.
Whose interests will you represent? You want to make sure that the estate agent has your best interests in mind and they are not representing a specific seller. Don’t assume that the estate agent is representing only you; always ask.
How long have you been licensed? Although this may not matter to some, others like to have an agent that is experienced in the property market and that can provide them with a better home buying experience by showing them more homes and having access to more industry resources.
How long have you actively worked in the area? You want to be sure that the estate agent you choose is experienced in the area you want to buy a home in. Every area is different and the homes are equally different. An agent that is familiar with a particular territory will have more knowledge of housing values, any plans for local improvements that could change housing value and neighborhood information as well.
How many home sales have you closed in the last three months? This is an important question on several fronts. If an agent hasn’t sold many homes lately, you want to know why. Do they not sell homes full time? Are they not experienced in the UK property market? And if the agent has sold a lot of homes recently, will they be able to give you the time and communication you need with their busy schedules?
Do you work full time or part time as a real estate agent? This question will tell you how serious the agent is about the property market and if they will be available when you have questions or not.
Have you earned any specialty professional real estate designations that would benefit me? There are many aspects to the property market and estate agents can train in many areas to ensure they are able to provide their clients with the services they need. These designations could be for first time home buyers programs, historic or renovated housing, or any number of property market specialties.
How are your fees structured? This is a very important question as fees can vary greatly from agent to agent. You want to know this information before selecting an estate agent and choose the one with the best fee structure.
Do you have full access to the area Multiple Listing Service (MLS)? When buying a home, you want access to as many homes as possible and you want an estate agent that has this access. If you are looking for For Sale by Owner (FSBO) and foreclosed properties, be sure that the agent has access to wide range of these homes.
How many homes are you prepared to show me? You are buying a home and you want to know that the home you select will be the right one for you. To do this, you need to see a lot of homes and you need an estate agent that will show you as many homes as you like to ensure you make the right decision. If an agent has a limitation on how many homes they will show you, choose another one that will show you more homes and give you more to choose from.
So that concludes this post Questions To Ask Estate Agents. We hope it helps you when choosing the best way to market your home for sale.
Do you have any ideas on questions to ask estate agents? Please leave a comment below.