Questions to Ask Before Getting a Real Estate Agent
Hiring a real estate agent can be dicey especially in Nigeria but smart people have found a way to vet agents in order to decide who to hire. The same way you will be asking real estate agents some questions to be sure they are fit for hire, that is the same way real estate agents will ask you some questions to be sure you are the right client for them. In fact, a real estate agent in Nigeria who does not ask questions is generally a red flag. You would not want to work with any kind of agent that is not professional.
A good real estate agent in Nigeria has class and does not rush off to serving everyone out of desperation. It is not advisable to interview different real estate agents working in the same company because you would be seen as a red flag client. When you schedule a meeting with a real estate agent whether through a phone call, Skype or one on one meeting, there should be specific questions that you should ask and here are the questions to ask about a prospective real estate agent.
1. How long have you been in the real estate business?
It is good to hire an agent who has got some years of experience in the field but let’s not neglect upcoming professional real estate agent. It is good to give real estate agents with little experience a chance especially if they are under a reputable real estate agency as well as have a good mentor. Newly experienced real estate agents are more committed to giving you the best as well as dedicating 100 percent of their time to helping you get what you want in the real estate market. Most real estate agents learn on the job. The more sales a real estate agent has closed, the more experience he or she gets. All these can help you gather the level of experience the real estate agent has from the information he or she will give to you.
2. What is your take on the sales-price ratio to average list-price?
The average ratio for any real estate agent depends on the market and a good real estate agent should have a track record of closing sale deals. Find out if the real estate agent is familiar with the area in which you want to buy a real estate property. If an agent knows the area very well and he or she is able to negotiate a sales price that is lower than the list price, then it’s a plus. The real estate agent’s past track record of closing sales below list price shows he or she is competent. A competent real estate agent can lower the buying price from 100 percent to 99 percent or lower depending on the market value.
3. What method will you use to give me the best of what I need?
Asking this question helps you to know what strategies the real estate agent will use to search for a good property for you as well as give you the best within the location of your choice. You will also need to know how the agent will handle multiple offers as well as compete against other buyers.
4. What makes you better than other agents?
Some real agents are trustworthy, honest, and assertive. Some real estate realtors are also excellent negotiators and they would not avoid this question when asked. When they mention all the characteristics that you value most in a real estate agent, then they are worth giving a shot.
5. Can I review any real estate document before it gets signed?
A good real estate agent will not rush you into signing any document. He or she will allow you to review the document before signing them. As a real estate investor, you need to see property documents ahead of time so you can have enough time to process the document to the tiniest detail.
6. How much do you charge?
All real estate fees are negotiable so there is no need asking if the fees are negotiable or not. Real estate agents always charge from a percentage. Top real estate agents tend to charge higher than real estate agents new to the business. When it comes to working with genuine and professional real estate agents, you will always get what you paid for.
7. What form of guaranty do you have?
What if you are later unhappy with a buying agreement you have already signed for? Will you be able to cancel the deal? Will the real estate agent stand by you after you have made up your mind to cancel? What has been his experience with clients that cancelled an agreement? What are his company’s policies on cancelling agreements? The responses to this question will help you decide if your real estate agent wears a strong suit or not.
8. Are there other things you need me to know?
There is often something else you need to know so it is wise to pay close attention to how the real estate agent answers the questions. You need a serious-minded and professional real estate agent who will take his or her time to give you the best of your investments. Make sure you develop a sense of security with this agent from the professional way he answers the questions you ask. The knowledge and expertise of the real estate agent should make you feel confident in your hire. Your real estate agent needs to know how to listen, counsel you and ask you the right questions in order to know how to serve you.
Are you ready to start your search for the best real estate agents? DpKay Homes have professional real estate agents that are perfect for the job and are willing to answer every question you ask. With a good track record in the real estate market, DpKay Homes has proven to be the best in offering real estate services in Africa.