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Real Estate’s Most Dreaded Inquiries (That We Love to Ask!)

Posted by admin on June 5, 2024
The Puffin Team Real Estate - Real Estate Questions

Being a real estate agent is no easy feat. I have to deal with stressed out clients, navigate through fluctuating markets, and engage in intense negotiations. Sometimes, there are real estate questions that make me nervous, but I understand that as buyers or sellers, my clients are naturally curious.

Common (and sometimes scary) Questions Buyers Ask:

Asking about the time a property has spent on the market is a common question for buyers. However, I worry that if the property has been listed for too long, buyers might assume there’s something wrong with it.

The reality: Properties might stay on the market for various reasons. Seasonal factors often play a role, with homes taking longer to sell during the holiday season or winter months when fewer buyers are active. Additionally, initial overpricing can cause a home to linger on the market until the price is adjusted to reflect market conditions.

Though it might seem like a harmless question, it can be a little tricky when asked about the reason behind the sellers’ decision to move as it can involve having to navigate delicate personal situations and avoid disclosing any information that could jeopardize the sale or give the motivation of my client away.

The reality: Sellers move for a variety of reasons that are not necessarily negative. Common reasons include job relocations, needing more space for a growing family, or downsizing after retirement. Personal circumstances such as these often have little to do with the condition or desirability of the property itself.

Buyers want to know what it’s like to live in a particular neighbourhood, including details about the neighbours. But this can sometimes be a delicate question to answer as I don’t want to inadvertently say something that could be misconstrued or discourage potential buyers.

The reality: Most neighbourhoods have a mix of people. Many areas are known for their community spirit, friendly neighbours, and local events that foster a sense of belonging. It’s always a good idea for buyers to visit the neighbourhood at different times of the day to get a feel for the community.

This question can put any realtor in a tight spot as revealing too much can undermine my negotiating position or create unrealistic expectations.

The reality: Knowing about recent offers can be a double-edged sword. While it can indicate that the property is desirable, it’s important to remember that not all offers lead to a sale due to financing issues or buyer’s remorse. The presence of previous offers generally indicates that the property has qualities that attract buyers, even if those offers didn’t result in a sale.

Answering this question involves striking a balance between transparency but also not highlighting flaws that can dissuade buyers; hence why it can be difficult to answer.

The reality: Every home has its unique characteristics, and some minor issues are common and often easily addressed. Older homes, for instance, might require some updates or maintenance, which is typical and expected. A home inspection can provide a thorough understanding of any potential issues and offer peace of mind.

Negotiating commissions can be uncomfortable. While realtors work hard to earn commissions, clients often ask if they can reduce it. This question can lead to a delicate negotiation.

The reality: Commission rates can be a sensitive topic, but they reflect the extensive services provided by agents, including marketing, negotiations, and ensuring a smooth transaction. Negotiating commission can sometimes be possible, but it’s essential to understand that a lower commission might affect the level of service and resources available for marketing your property. To know more about commissions, click here.

Predicting future property value is a daunting task as it is challenging to make guarantees or predictions that could come back to haunt realtors.

The reality: Predicting future property values involves looking at market trends, economic factors, and local developments. While no one can guarantee appreciation, properties in growing areas with good infrastructure and amenities often show positive trends. It’s important to research and consider expert opinions to make an informed decision.

Navigating the real estate market can be complex and challenging, both for agents and clients. By addressing these common questions with realistic and thoughtful answers, I hope to provide clarity and confidence in your buying or selling journey. Remember, open communication and mutual understanding are key to a successful real estate experience. Whether you’re buying your dream home or selling your property, we can work together to achieve your goals and make the process as smooth and rewarding as possible.

Lynn Vardy Realtor at The Puffin Team Real Estate

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