Saturday, May 21, 2011
Buying or Selling? ... remember to ask...
Is the property currently insured? If the property already has insurance, there is no need for a cover note.
If interested there and then…Do you have an expression of interest that I can fill out right now? This is not a binding contract but give the Real Estate agent something concrete to begin negotiations. Plus an expression of interest is less time consuming than a full contract, which isn’t needed until price is accepted by both parties.
Questions to remember to ask during the listing presentation if you are selling…
How many properties have you sold personally in the last 30 days? In real estate the market is volatile, but you’d like to have someone working for you who has the ability to sell one or more properties even when nothing is moving.
How many listings are you managing currently? If the agent has less than 10 listing this could mean one of two things – they aren’t actively winning listings… or they’re selling everything quickly.
What’s your average days on market over the last 12 months? How long is each property listed for under that agent until sold? This varies in different suburbs – some higher priced areas accept that their house could be on the market for 6 months or more, but in average price ranges houses will sell in a shorted time frame.
How will you alert qualified buyers about my house being on the market? You want to know what the agent will do for you individually.
That ended up longer than I expected! Next week I’ll continue with a wife’s point of view, including my personal view of Agent verses Agency, Con men and integrity and who the agent really serves.
The man behind the questions... Shane Evans from Finesse