People buy and sell property on daily basis. This is one of the busiest markets everywhere in the world. Buying and selling high cost pieces of land and then again doing the same thing for the hundredth time will still bear some risk. This is because people always fear putting their investments in any risky position. And this behavior is rational which means that this kind of mindset is the most common one in which a person thinks in a way that he or she should benefit him or her the most but never think harmful for anyone but also never ready to pay any compensation that is never ready to cause harm to himself or herself.
Estate agents or local realtors are the sailors of this ship. Investors would often go to these estate agents as they try to save time. These agents are the middle persons who act as an intermediary between the buyer and the seller and earn commission on it. They are the true representatives of the estate or property market which is means that they know all the hacks and procedures of this market. One main reason why people choose these agents is also that they save a lot of time and a true businessman will always see time as money.
Table of Contents
1- Taking a look at the Finances
We live in a capitalist society where our conversations start and finish on the same topic every day; money. This means that asking about the charges that the agent will charge us on providing his services to us should be decided beforehand to avoid any confusion with open talks no charges are supposed to be hidden only to show up later to avoid indecency.
2- Tax and other dues
Another important question that one should ask the agent beforehand is how the taxes are going to be applied? Different residential areas often vary when it comes to taxes. Commercial areas are highly taxed whereas residential areas are not taxed that high. Investigation about this topic is very important to be done or else trouble can drop over really quick. Other dues which include utility bills should also be discussed with the agent as different charges are imposed according to the location.
3- Discuss your personal needs
Different people have different requirements regarding their property ideals. Some people may prefer it close to the beach to enjoy the view, while some may prefer away from the beach to avoid any traffic. This point is not a sole question itself but a series of queries summed in one. All the “must-haves” regarding the property should be discussed with the local realtor.
4- Enquire about the area
Agents know a lot about the areas in which they operate. If they do not know they at least have a very strong idea of the area and the situation there. If you have made up your mind about a certain choice that the estate agent has shown you, then before going ahead with the process do enquire about the area, people in that area, neighbors, etc. to make sure the place is safe or not.
5- Can you crack the deal?
If you are not so good at negotiations, not to worry about this role you can delegate it to your agent and he will take this role with dignity. The lesser the price he wins for you the more the commission he will get from you. So, there is an incentive for the agent to act like a mother at the grocery shop.
6- Offers that have been made
If you like a property very much and you feel like buying it at any cost and that property is out on the sale, you can even ask your agent to enquire about the offers different people have made to the owner and what is he expecting? Questions like these will help you anticipate a fair amount that the owner might be expecting which might benefit you too.
7- Life of the property
Suppose you liked a house and you feel like buying it. And later you discover that the house is no less than fifty years old. You may or may not agree but this will damage your nuisance value for the house pretty much. It may cause no difference in the price but in your mind, it will never be the same. It is preferable to ask about the owners since how long have they been living in the property.
8- Open at the market
Some people try to find out, how long the property is on the market displayed for sale. This gives them an idea of the demand for the property leading them to easily devise an offer to be thrown at the owners if they wish to accept.
9- Why the owner is selling?
People often ask this question to figure out if the owner is in dire need of money or not. If he appears to be desperate, then a good rate can be offered which may be less than the market rate in an attempt to earn abnormal profits.
10- Commission bargaining with the agent
This is nearly an impossible thing to accomplish but people often try it. Asking the agent to take a lesser commission can sometimes cause the agent to drift away and lose interest in work and this may cause you millions.
Whatever be the case, whatever be the kind of property it may, hiring professionals can never disappoint. These realtors are the masters of their sea and every master of his sea knows a lot more than a layman who not even understands the jargons of that field.