10 Essential Questions to Ask a Realtor Before Buying a Home

by | Aug 24, 2023 | Finance

Buying a home is one of the biggest financial decisions you’ll ever make. If you don’t ask the right questions, you won’t get the information you need. 

In this article, we’ll rundown 10 essential questions to ask a realtor before buying a home. This ensures you make an informed decision. 

1. What Neighborhoods Do You Specialize In?

A realtor has a specific area they specialize in. It’s important to ask a realtor if they’re familiar with the places you’re interested in.

If they’re not, it’ll be inefficient for them to try and guide you through the process. 

Remember, the right realtor should be able to give you crucial details about the area, including

  • home prices
  • schools
  • safety
  • transportation
  • and local attractions.

For example, www.yegrealestate.net/ from the get-go tells you right away that he specializes in Edmonton. A specific realtor knows his area well. 

2. How Many Homes Did You Help Previous Clients Close In the Past Year?

Another critical question to ask a realtor before buying a home is how many homes they’ve helped buyers close in the last year.

This question is critical because it shows how successful a potential agent is in helping people with buying.

Usually, real estate agents sell around seven homes a year. Considering they work with buyers and sellers, about 12 transactions per year is a reasonable average.

A good number of closed homes means the agent has the knowledge and skills to help buyers. 

3. Are You a Full-Time or Part-Time Agent?

Whether a realtor is a full-time or part-time agent signifies their experience level. 

Of course, a full-time agent has had more experience because they’ve handled more transactions. In addition, they can dedicate time to keeping up with

  • market trends
  • understanding neighborhoods
  • and giving personalized help throughout the home-buying process.

On the other hand, a part-time agent may not be available due to other commitments. This can affect how quickly they respond to questions or set up property showings.

4. What Should I Look For When Touring Houses?

Realtors know best what you should look for when searching for the perfect home. 

One significant consideration is identifying possible issues that could cost a lot to fix, such as

  • the structure’s foundation
  • pest infestation
  • water damage
  • mold problem.

Noting these issues while touring the house can save you from unexpected expenses and troubles later.

5. Is This Home Well-Priced?

Sellers may ask for too much if they think their home is expensive. But an experienced agent can advise you if the house is, indeed, worth its price. 

They’ll look at similar homes that sold recently (called comps) and compare their prices to the one you’re looking at.

Plus, they’ll check indicators such as

  • home size
  • location
  • structural integrity
  • and renovations (e.g., updated kitchens and bathrooms.)

To ensure you’re paying what it’s worth. 

6. How Much Are the Monthly Costs?

More than the upfront costs, you’ll also need to consider the monthly fees of owning a home, including utilities, property taxes, and homeowners insurance.

Utilities, like

  • water
  • electricity
  • and gas can cost different amounts depending on where you live and how big your home is.

Property taxes are another thing to think about. How much you pay depends on the value of your property and the local tax rate.

7. How Long Has This Home Been on The Market?

When buying a home, it’s wise to ask your realtor how long it’s been up for sale. 

If a home has been for sale for a while, the seller might be more willing to negotiate. They could be open to lower offers or other terms. 

Also, if a home stays in the market for prolonged periods, it could mean some issues repel buyers. Maybe the price isn’t right. Or the condition is poor. 

Knowing these details helps you make informed decisions when buying a home.

8. What is the Seller’s timeline?

You need to know when the seller wants to move because their plans should match up with yours. Hence, it’s best to ask your realtorller’s plans. considering

This matters if you have specific plans for moving. That’s why understanding when the seller wants to move helps you figure out if this house suits your needs.

9. What Offering Strategy Do You Recommend?

When the housing market is competitive, buyers need a clever offer. The key is to make your offer more appealing to the seller than that of others. 

An expert agent would know the best strategies to make your offer stand out. 

They can advise you on offering a bigger down payment to show the seller you’re serious about buying and have the money to do it.

10. Would you buy this house?

When you’re considering buying a home, it’s a good idea to ask your realtor if they would buy the house themselves.

If the realtor is enthusiastic and would buy the house, that’s positive. It means they’ve checked it out and think it’s a good choice.

But if the realtor isn’t sure they would, that’s a bad signal. It could mean they’ve found problems that affect the property’s value. 

Remember, the realtor’s opinion is just one part of your decision. But their opinion can help you decide if the property is right for you.

By asking these investigative questions, you’ll make better, informed decisions. Don’t settle for anything less than the best!  

Read through our useful guide for more information

Let us get you started with your own self build