Asking your estate agent the right questions
Asking estate agents the right questions is crucial for several reasons. It ensures you select a competent and trustworthy agent, which directly impacts the success of your property transaction. Inquiring about their experience, success rates, and local market knowledge helps you gauge their expertise and reliability. Questions about fees and services offered clarify financial commitments and expectations. Additionally, understanding their communication style and availability ensures smooth interactions.
The right questions also reveal potential red flags, such as high fall-through rates, allowing you to make informed decisions and avoid costly mistakes. Ultimately, this leads to a more successful and stress-free property transaction.
Here are some questions we think you should be asking and why it’s important to do so.
What is your current fall through rate?
Understanding the fall through rate helps gauge the agent’s reliability and effectiveness in closing deals. It can reveal potential problems or inefficiencies in the agent’s processes that might impact your sale or purchase.
What do you achieve on average as a percentage of the asking price?
This question helps you understand how effective the agent is at negotiating and getting close to the asking price, indicating their ability to maximise your profit.
What percentage of homes do you reduce and how long after marketing do you tend to reduce them?
Asking this question reveals how realistic the agent’s initial pricing is and how responsive they are to market feedback, helping you avoid prolonged listings and price cuts.
Do you do presenter-led videos?
Presenter-led videos can significantly enhance property presentations, attracting more potential buyers and setting your listing apart in a competitive market.
How will you ensure my home stands out online?
This question assesses the agent’s digital marketing strategies and creativity in showcasing your home, crucial for attracting buyers in an increasingly online-driven market.
What do you give each buyer when they leave?
Providing potential buyers with detailed and attractive property information can leave a lasting impression and help them remember your home positively, increasing the chances of a sale.
Will you conduct the viewings on the house?
Personal agent-led viewings can provide a more engaging and persuasive sales experience, addressing buyers’ questions immediately and highlighting key features effectively.
What is the strategy when selling my home?
Understanding the agent’s strategy ensures they have a tailored plan to market your home effectively, addressing its unique features and targeting the right audience.
What do I need to do to be photo ready?
Preparing your home for photos is crucial for creating a strong first impression online, which can drive more interest and viewings.
What is your average sale time after listing?
This question helps gauge how quickly the agent can typically close a sale, giving you an idea of how long your property might be on the market.
What is your average time on the market?
Knowing the average time on the market provides insight into the agent’s efficiency and success rate in selling homes within a reasonable timeframe.
If you have any questions at all about the sale or purchase of your home, contact our friendly team at Fowler & Powell, who will be more than happy to help you.
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