Navigating the complexities of buying or selling property, particularly in a fluctuating market, can be overwhelming. Factors like price, location, condition, financing, legalities, and competition all come into play. This is where a seasoned real estate agent becomes invaluable, guiding you through the market to achieve your goals.
Meet Peter Mehrabi, a reputable real estate agent with a wealth of experience in residential and commercial real estate since 2001. Starting his career with Re/Max, Canada’s largest real estate brokerage, Peter has been consistently active as a full-time Real Estate Sales Representative. His passion and commitment to real estate have resulted in a track record of exceeding client expectations. Hence his slogan – “Everything I touch turns to sold.”
Peter shared some of the most common and important questions real estate clients should ask, as well as the benefits that real estate agents offer to buyers and sellers in this turbulent market.
Top Questions for Real Estate Clients
Buying and selling a property is a major decision that requires careful research and planning. Before you make an offer or put your home for sale, you should ask the sellers or the agents some important questions to avoid any unpleasant surprises or regrets later.
Top 6 Questions to Ask as a Buyer
If you’re the buyer, the important thing to ask is the reason for selling and how long the property has been on the market. This can give you some insight into the seller’s motivation and urgency and help you negotiate the price and terms of the sale. Also, if the property has been on the market for a long time, it may indicate that something is wrong with it or that the seller is asking for too much. You may be able to get a better deal if the seller is desperate to sell.
Buyers should always ask about the condition and age of the property. You should ask about the history and quality of the construction, the materials used, the renovations done, the repairs needed, and any other issues that may affect the value and safety of the property. Also, ask for a home inspection report or hire a home inspector to examine the property before you buy it.
It’s essential to ask about the items included in the sale, particularly fixtures and appliances like furniture and curtains. It’s also important to identify what’s not included in the sale, such as personal items or artwork, to set realistic expectations.
Furthermore, learn about financial obligations associated with owning the property. Ask about the monthly costs of owning a property, like property taxes, utilities, insurance, maintenance fees, and any debts or liens on the property. This information aids in planning your budget and understanding the financial commitments.
Finally, learn about the neighbourhood and its surroundings. Ask about local amenities, services, school quality, transportation, safety measures, crime rates, noise levels, and other lifestyle factors. Visiting the property at different times can give you a better sense of the area’s atmosphere and suitability.
Top 6 Questions to Ask as a Seller
If you are putting your property for sale, inquire about the current market conditions and recent comparable sales to understand the realistic value of your property.
Ask potential agents how they will market your property. They should have a plan for attracting and reaching potential buyers, such as listing your property on multiple platforms, creating a professional and appealing presentation, hosting open houses and showings, etc. You should also hire a reliable, experienced agent who can represent your interests and negotiate the best deal.
Another vital question to ask is about the timeline for selling your home and what factors might influence it. You should be aware of any possible obstacles or delays that might occur during the negotiation, inspection, appraisal, or closing stages. Furthermore, you should inquire about the costs involved in selling your property, such as the agent’s commission, the closing fees, and any taxes or legal fees.
Finally, sellers should seek advice on how to best present their property to potential buyers and how to address any concerns or questions that they might have. Ask if there are any repairs or improvements that you can make to your property to increase its value and appeal to buyers.
5 Advantages of Working with Real Estate Agent
Engaging in property transactions, whether buying or selling, is a significant financial decision that can be complex and stressful due to the numerous legal, financial, and emotional factors involved. Hence, it’s beneficial to employ a real estate agent who can navigate this process and assist in achieving your objectives.
- Expertise and Market Knowledge: Real estate agents possess comprehensive knowledge about the local market trends, pricing, neighbourhoods, and property values. Their expertise helps clients make informed decisions, whether buying or selling, by providing insights into the current market conditions.
- Negotiation Skills: Agents act as proficient negotiators on behalf of their clients. They leverage their experience to secure the best deals, ensuring favourable terms and prices. Their negotiation skills often result in successful transactions that benefit their clients financially.
- Extensive Network: Agents ihave a vast network of industry contacts, including other agents, potential buyers/sellers, inspectors, lenders, and more. This network allows them to tap into various resources, facilitating quicker property searches or reaching a larger pool of prospective buyers.
- Legal and Procedural Guidance: Real estate transactions involve intricate legalities and paperwork. Agents guide clients through complex paperwork, contracts, and legal procedures, ensuring compliance with regulations thereby minimizing the risk of errors or legal complications.
- Time and Convenience: Hiring an agent saves time and effort. They handle property showings, marketing, scheduling, and communication with other involved parties, relieving clients from the hassle of managing these tasks themselves.
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