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AMAZING questions to ask an agent

Discussion in 'General Property Chat' started by Scotty3, 18th Mar, 2016.

  1. Scotty3

    Scotty3 Well-Known Member

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    Whether you have a have a relationship or not with a real estate agency, what are some questions you like to ask an agent?

    You see a property you like you haven't spoken to this agent before, what are the things you like to ask and what do you what to find out about.
    Additionally, what are some of your tactics to build the rapport?

    Here's some to get it going:

    How long has it been on the market?
    How firm is the price?
    Are there any issues I should know about?
     
  2. markson

    markson Well-Known Member

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    Has there been a rental appraisal on the property?
     
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  3. John Wood

    John Wood Member

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    Why are they selling?
     
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  4. Scotty3

    Scotty3 Well-Known Member

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    What are the surrounding houses like?
     
  5. Corey Batt

    Corey Batt Finance Strategist Business Plus Member

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    Is there any issues with the property that you or the vendor are aware of?

    Especially good if you get it in writing (email etc).
     
  6. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

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    Are you a boy or a girl?
    Can I trust you or will you lie to me?
    Ok the serious questions:
    What do you think it's worth?
    What comps did you use?
    Why are they selling?
    Apart from the price what T&Cs do they want?
    Have you had any offers yet?
     
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  7. D.T.

    D.T. Adelaide Property Manager Business Member

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    Most agents won't answer this. Their client has told them their reason in confidence and it wouldnt be legal nor ethical to pass it on to you.

    Instead, ask whether a short or long settlement is preferable. Based on how they answer that, gives you part of what you needed to know from the above. Its up to you to know how the parts go together ;)
     
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  8. Big Will

    Big Will Well-Known Member

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    Can I use the toilet?

    There is a lot of variables that need to be known as some questions don't make sense.

    E.g. what did the property pass in at auction?
    Has anyone done a B or P inspection, what was the results? Am I able to view a copy of this report?
    What were the previous offers?
    Roughly how many people have inspected the property? (then how many offers?)
    Were any of the offers accepted? If they were why did they not pass (99% time REA will come back I think it was finance).
    How long have the tenants rented here? How long left on lease? How much rent they paying? Would you consider that FMR?
     
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  9. Frazz

    Frazz Well-Known Member

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    Interestingly I've always asked them directly why the vendor is selling and ive never had a REA say they were unable to disclose why, yet. (In fact, some have been quite honest, i.e going through divorce. Other times it is just a simple 'wanting to upsize as a kid is on the way or something to that effect')

    Now whether you believe what they tell you is up to you... :)

    I agree that asking about settlement duration preferences is a great probing question, which could even help validate their answer as to why the vendor wants to sell.
     
  10. Xenia

    Xenia Adelaide Property Manager Business Member

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    What kind of chocolate do you like?

    Seriously though, a good, solid, unconditional offer will do the rapport building for you.

    We had someone call yesterday tell us "come on please get this over the line for me and I will give you the management and also the management of all my other properties"

    Seriously?

    Answer - "do you not understand that an agent who goes behind a vendors back to work for a purchaser will also go behind your back and work for your tenant"
    Increase your offer, they will take the asking price.
     
  11. D.T.

    D.T. Adelaide Property Manager Business Member

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    How would you feel if you were the vendor in that scenario?

    Tell them "if you want me to negotiate on your behalf give me something worth negotiating with" hehe :p
     
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  12. Steven Ryan

    Steven Ryan Mortgage Broker Business Plus Member

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    "Do you invest in property?"
     
  13. Lisa Parker- Buyers Agent

    Lisa Parker- Buyers Agent Well-Known Member Business Member

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    "[/QUOTE]

    I have worked with selling agents who prefer to get my deals over the line compared with other buyers because they will gain the management and also because they want more sales through me. It does work and when the selling agent and rental people are two different people it doesn't mean that the property team are not going to represent their landlord well.

    I don't come out and ask for it as part of the negotiations unless it seems appropriate for that particular agent, however selling agents have shared with me after a period of time and rapport that they try to push my offers through due to those things.

    I don't think its a tactic to build rapport though, its just a tactic to help get a deal over the line and it has its time and place. It would be presumptuous to think that it would work with every agent. Most wouldn't care about that alone.
     
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  14. Lisa Parker- Buyers Agent

    Lisa Parker- Buyers Agent Well-Known Member Business Member

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    Rapport building can be challenging for many people - probably not regulars here on the forum I imagine. Saturday shoppers, who just show up to OFI's and don't know how to build rapport would likley miss many opportunities to do so. Especially if they only see the agent at an OFI and it's a busy one or they have a junior do all the ring backs.

    For those who are regularly buying it is far easier to build rapport because they have more opportunities to do so
    1) Ringing to inquire about a property (many home buyers don't call agents prior to inspections)
    2) Meeting the agent at the OFI - another opportunity to follow on from your phone call to create a personal connection and familiarity.
    3) following up the agent for up and coming properties

    I ask the agents questions about themselves - not the property to build rapport.
    Comment on something you notice about them (their car, the agencies new branding, their performance at a recent auction). I often get to know a lot about them in a natural, friendly way. I think if they feel like you're intentionally doing it it can be felt and doesn't result in a natural rapport.

    Then the obvious ones like being courteous, on time, respectful and not being cagey in your communication with them. There are ways to answer questions without giving away information that you want to hold close to your chest - it's important to do that so you don't come across closed off or cagey.
     
  15. monty

    monty Well-Known Member

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    This is the first question I ask every time if I'm interested in a property. Of all the times I've asked I've only had one agent say she was unwilling to disclose that. I reckon it's a totally legitimate question.
     
  16. dabbler

    dabbler Well-Known Member

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    I spoke with 2 new agents this afternoon, I do not do anything to build rapport or anything that would seem fake etc - i.e no "tactics", basically I let them talk, tell me what they know, talk up the area, street or what they feel is positive, I ask them general questions on things I want to know, it is petty basic really, remember, they are only a sales person, not the vendor.
     
  17. dabbler

    dabbler Well-Known Member

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    I am curious, why do you care of the reason for them selling ?

    I do not see this as my business really, often it is offered up, but it would be of little concern it would seem, apart from maybe wanting to know if they are a serious seller, this can usually only be found out once you get further down the track though.
     
  18. Azazel

    Azazel Well-Known Member

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    How much do you think it will sell for? <crickets>
     
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  19. monty

    monty Well-Known Member

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    Two main reasons: to see if the vendor has bought somewhere else and thus might have a time limit; and to give the re agent a chance to tell me if there is anything wrong with the property.
     
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  20. HUGH72

    HUGH72 Well-Known Member

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    I've never mentioned management post settlement but I have had agents say " come on please get this over the line".
    I like the idea of asking the agent what comps did you use, it could go 2 ways, either there are none in which case the vendor is dreaming or if there are it might provide a guide to what they are after?
     
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