Whether you’re a buyer or a seller, a home is a significant financial transaction, likely the largest one you’ll ever make. As a result, it’s important to work with a real estate agent who is competent and experienced, and who you can trust. When you work with the best agent, you’ll help ensure you get the best price for your property or the best deal on your home purchase. Here are some key questions to ask any real estate agent because you make a commitment to work with them.
1. How Long Have You Been in Business?
A real estate agent with years of experience will be more likely to have the necessary knowledge and expertise required to show and market a property or negotiate the best deal for clients. They’ll also know how to assess properties to be a valuable advisor during this intensive process. A less experienced agent, on the other hand, may hesitate to negotiate or may make mistakes in the paperwork. The Chestnut Park website may be able to provide you with more information.
2. What Is Your Area of Expertise?
Of course, if you’re looking to purchase commercial property, you’ll want to work with a commercial real estate agent. If you’re looking for a residential property, you’ll want that type of experience. Some agents specialize in fixer uppers or condos, in investment properties or luxury homes. Others specialize in brand-new builds or detached properties, while others will dedicate their time to clients in a specific neighbourhood. It pays to know the agent’s area of focus to ensure they can handle the type of financial transaction you’re seeking.
3. Do You Work as a Real Estate Agent on a Part-Time or Full-Time Basis?
You’ll want to work with a real estate agent who’s available to meet your needs, show your home, or take you to view properties on your timetable. An agent who dabbles in the business part-time may not be available when you need them and may also lack the knowledge required to effectively buy and sell homes. You want an expert who is fully immersed in the market.
4. How Many Clients Do You Work With?
An agent who is juggling too many clients may not have adequate time to devote to your buying or selling needs. They may be fully booked up with viewings on days that you’re open. On the other hand, if your client doesn’t have any other clients, this is also a red flag that they’re likely missing experience or have a poor reputation in the industry.
5. Can I Speak to Some of Your Past Clients?
An agent’s past clients can give you insights into the agent’s professionalism, expertise, and knowledge. A reputable agent should be happy to connect you with their happy past clients who will give them glowing reviews. If the agent refuses, this should be considered a red flag.
6. How Much Is Your Commission?
Especially if you’re selling your home, you’ll want to know how much you’ll need to pay the agent for their services. Typically, agents get paid between three and six percent of the sale price, which could amount to $15,000 or $30,000. This rate may also be negotiable, so it pays to ask this question.
Ask these questions to ensure you’re working with an experienced and reputable real estate agent.