3 Questions to Ask Your Real Estate Agent

Posted on by Ink Well Mag

Couple discussing with real estate agentIf you are on the hunt for a North Lakes real estate agent, rest assured you will not have a hard time finding one. They are aplenty, and most are rather dependable. But before you panic over the possibility of option paralysis, here’s how you can choose from your existing candidates: start by asking these three questions.

1. How long have you worked in the real estate industry?

Just like in any industry, experience can never be neglected as a barometer for competence. In the field of real estate, this issue has been debated upon many times over. Among real estate professionals, the consensus is this: the longer you have been immersed in the business, the better you know how it works. This is why this question matters. From the answer to this seemingly simple query, you can deduce whether the agent you are talking to have sufficient credentials from which you can build mutual trust.

2. Where does your list-price-to-sales-price ratio fall?

In a nutshell, list price to sales prices ratio works this way: above 100% means homes are sold above list price; the opposite goes for below 100%. If you are buying a house through a real estate agent, this ratio proves beneficial when it comes to negotiating prices. Should you know that an agent has a below 100% ratio, you are hinted at how this agent can haggle prices, and so can you.

3. Could you provide me with references?

This question is just your starting point. Should you be given references, the next step is asking these references the right questions. The simple fact is: not many will provide negative references. So you must learn to prod, politely that is.

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Real estate agents are licensed professionals working under shared ethical codes. If you are to work with one, believe them when they say they are there to help you.