#2 - What Is The Property Worth In Today's Market?

Posted by: Intercity Realty Thu, Aug 6th / 15

10 Questions To Ask When Hiring A Sales Representative

The smartest home buyers and home sellers prepare themselves during the real estate sales representative selection process. Yesterday we focused on:

#1 - "How Long Have You Been Licensed & Active?"

Keep in mind, during this selection process, as you are interviewing sales representatives, they are interviewing you as well. They need to ensure if you are serious in your endeavor of buying or selling. Do not be alarmed. Good sales representatives are always judicious in client selection.

So what exactly should smart consumers be asking sales representatives?

This is precisely what we unveil throughout our article series "10 Questions To Ask When Hiring A Sales Representative." Let's continue with your 2nd question:

#2 - “What Is The Property Worth In Today’s Market?”

The price of a property may not necessarily reflect its value. The property may be overpriced, underpriced or just right. So do not be shy to inquire about comparable sales. A good agent can supply you with genuine market analysis comparing sales of recently sold homes close to your property of interest. They can also provide you with high and low ranges for specific properties. They may also inform you on the percentage of asking price sellers have received.

Sizing up property worth includes knowing how long the property has been on the market. So inquire about “stickiness”. If it’s been nesting for months with no offer, it does not necessarily mean it’s a slow market. It could mean the property is overpriced at the moment. So if you’re interested in the property, you can ask your agent to enlighten the seller. You will be surprised of the seller’s willingness to work something out for you if he is serious about selling.

In the end, you want your real estate transaction to be memorable, hassle-free, and to achieve the best purchase or sale price. It always starts with asking the right questions.

Follow us tomorrow as we continue to hammer away at questions smart consumers should be asking, in our popular article series "10 Questions To Ask When Hiring A Sales Representative."

By Rick Daredia, Contributing Author for Intercity Realty

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