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Things to Ask your Real Estate Agent

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Nov 18, 2023

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Good communication with your real estate agents helps you to establish specific details about the type of property you are looking for and to truly understand the process. For good communication to flow you need to talk through every side of a question or consideration with your real estate agent. Miscommunication often leads to a bad relationship between client and agent, which is why there are sets of questions that you can ask your real estate agent when buying or looking for a house/property.
Starting with the first and basic question,

Q.1 What area do you primarily do business in?
● This is the first question you as a client should first ask because it might get lost in the shuffle of other secondary questions. There are two parts to this query; one that your agent will know the area you’re interested in and two- your agent would also want to confirm they want to spend time researching your preferred neighborhood.This question reassures you that your agent is familiar with the area and you’ll also get to know his/her knowledge in the target market.

Q. 2 How long have you been in business?
● You need to make sure that your agent is capable and has some experience. He/she doesn’t need 10 or 20years of experience but you don’t want to be their first transaction either. You as a client can’t teach experience so first and foremost, make sure your agent has been around the block a few times!

Q. 3 Why did you get into real estate?
● You need to understand how and why they work the way they do because you will spend a lot of time together when you’re on the search or property so this question will uncover your relator’s motivation to get up every day and serve you as a client. Most agent-client communication breakdown over time due to lack of communication and hence questions like these bring the opportunity to empathize with each other.Also, when it comes to negotiations, showings, or communication in general, you need to understand where your agent is coming from and why they choose to become one.

Q.4 How many clients do you have?
● You want your agent to have enough time to dedicate to you and your search, but at the same time, you also want to make sure that you are not the only client your agent has. Why not??? Well, what happens is when the deal gets sideways which happens in many cases and transactions, and when you’re thinking about backing out, you wouldn’t want to make the situation difficult for your agent or you. At the end of the day, agents also have to put food on the table and that’ll be difficult for the client as well.
● But in another scenario, what if your real agent has 50 clients? Well, that is not a bad thing. It probably means that the agent is successful and has efficient systems and transactions but always prefers your agent who has few clients that only you as their client.

Q.5 Who will be working with you or your team?
● Nowadays, the team model is very popular. The team model has a showing agent, an administrator- who handles all the paperwork, and there’s the lead buyer’s agent who oversees everything and helps you negotiate at the end. So be sure you know what type of relationship you are signing up for.

Q. 6 What sets you apart from the other real- estate agents?
● It is very difficult to see the difference between two real estate agents and it is also very difficult to see the value that a real estate agent brings to the table. Ask your agent, What they do differently or what sets them apart from many other real estate agents. They should be prepared to give you an immediate answer. Your agent should have the best answers to tell you how they are different.

Q. 7 How do your fees work?
● Most of the time the fee that you pay your buyer’s agent is already figured into the sales price and has already been set by the seller which means there’s no extra out-of-pocket expense on your end as a buyer.Sometimes though buyer’s agents will have administrative fees also known as desk fees that your buyer’s agent will charge and pass down to you at the closing of the transactions or the deal.
In the case of Nepal, for more authenticity and genuinity in the real estate agent’s rate, it is suggested to work with agents who are registered real estate agents in Nepal. The Government of Nepal provides certifications to licensed real estate agents, and you will be 100% secure while working with them.

Q. 8 After hearing my needs, what do you think is the best strategy moving forward?
● After you have an in-depth conversation with your agent they should have a clear picture or the best idea to proceed or to find the type of property you prefer at the best rates. Always look for more than an automated search. See how creative and efficient your agent is, the things to look for are;
1. Recommendation to go for an open house
2. Recommendation to send out a direct mail
3. Or just to go and check the house via door knocking
But all in all, after a deep conversation you should seek a plan from your agent in moving forward.

Q. 9 How will we communicate?
● In everything we do, communication is the key so whether you are buying a house or selling one, it is very much necessary to also have clear communication on what medium you and the agent will be using. Some prefer emails, some phone calls, so don’t forget to ask for their preferences of medium for you to contact each other efficiently. By doing this not only you will avoid miscommunication but it will also be best for everyone’s expectations to be met.

Q. 10 And lastly before you hire an agent, don’t forget to ask, “ What questions do you have for me?”
● Your agent should also be making sets of questions like;1. How long have you been looking for a house or property?2. Have you seen anything you like?3. Have you written any offers on the property?4. What is the budget? Preferences? And so on.If your agent doesn’t bombard you with any question it means they’re not prepared and seem unprofessional.Any question is better than no question to not sound ignorant and shows that they care for the clientele.Remember you don’t want a passive agent, you want a proactive agent who is genuinely interested to help you find the house of your dreams or close to your preference at least!

References:
https://realestateinnepal.com/questions-to-ask-before-buying-a-house-in-nepal/
https://www.homelight.com/blog/buyer-questions-to-ask-a-real-estate-agent/

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