7 Questions A Seller Should Ask His Broker
Selling your property? You don't want to do it just right. Understanding the nuances of the market and the challenging task home-selling is, you hire a broker to sell your property. Well, you took the right decision. But, before you sign the broker up for the deal, there are certain questions you should ask.
These questions will not only help you gain confidence in the broker and his skills, it will also help the broker know what you are your expectations from him. Hire only once these questions are answered and you are satisfied.
MakaaniQ lists seven questions you should ask your broker:
How many sales did you close last year?
It is important to know the number of deals the broker could close in a year. This will show the success rate and the average time he/she takes to close a deal.
How knowledgeable are you about the neighbourhood?
Know whether or not the broker is well-versed with the neighbourhood your property is in. Having enough knowledge about the neighbourhood would help the broker in selling the property fast as they would know the pros and cons of the locality. Also, knowledge about neighbourhood would allow them to price the property right.
How do you decide the listing price of the property?
Understand the criteria based on which the broker will put a price tag on your property. Understand from them the criteria they will follow. In case they are unable to price the property right, it will delay the sale of your property and price correction of the property will bring down its value.
What is the price range of the properties in your portfolio?
This question will allow you to understand the kind of price range the broker operates in and how comfortable will they be in selling your property. What if your property is in the premium segment while the broker has only sold properties in affordable segment. In such a scenario, they might take time looking for potential buyers for your property as they have to do a completely new client development in the category your home falls in.
What do you think will be the overhead costs that I will have to bear?
A broker will be the best source of information here. If well-read and knowledgeable, they will be able to tell you all the overhead costs that you will have to bear during the process of selling your property. Taxes, paperwork, legal costs, commissions among others.
What should I do to make my property saleable?
A broker knows what are the areas when done well can make your property saleable. A broker will have a clear idea about how to stage the property, repairs that will increase the value of your property among others. For instance, repairing damp walls could make your property sell better, a well-designed or staged property can be more attractive.
How will you communicate?
Do check with the broker about the mode of communication. Give them your preference and know theirs, too. So, what if you are at work during the day and do not want them to call you until it is urgent. Tell them you prefer to message them during the working hours and have an update call once in two days.
Also Read: Why You Must Try Virtual Staging Right Now