Questions to Ask a Real Estate Agent When Buying Your First House – We Buy Houses Indianapolis Company
Since so many people are choosing real estate agents as their Buyer’s Agent, here are some top questions to ask a Buyer’s Agent when they call you to meet with you to talk about adding your maximum bid to the Multiple Listing Service (MLS) in hopes of getting your first house. We help property owners just like you, in all kinds of situations. From divorce, foreclosure, death of a family member, burdensome rental property, and all kinds of other situations. We buy houses Indianapolis and surrounding areas.
What is the Multiple Listing Service (MLS)?
For most people, the MLS is neither definitive or knowledgeably organized. The MLS is simply a way to move information about property. Your listing information and photos are all sent to a central database. From the MLS, it is several realtors that call and arrange a showing for your house. The buyer’s agent that shows you the house gets the listing.
Why can’t I just go directly to a Listing Agent?
Is your Listing Agent sub- freight or what? In today’s market you no longer hear from any seller’s agent unless they have a buyer for their buyer. Not to maximize the commissions for your house a buyer’s agent undoubtedly will call every day with a buyer wanting to buy and will work with such a buyer’s agent all day.
How do I know I am dealing with a good, qualified agent?
Now that you have asked yourself this question, you just might find the answer. The three things that you can take into consideration to determine if an agent is a good, qualified agent are as follows:
a. The sales they have made this year compared to last year.
b. The sales they have made in the previous year compared to this one.
c. Is the strategy of the agent to sell your home? (i.e., buy, sell, lease option, short sale)
Can I remove a name from my buyer’s list if I change my mind?
Realtors are bound by the NAR’s Code of Ethics and Standards of Practice. This document means that all Realtors are expected to operate with a certain level of fairness and respect for one another. Under these standards, a name can be removed from a buyer’s list only when the home is sold, the buyer chose not to purchase the home or with approval of the buyer’s agent and the buyer do not find a new agent within one hour of the home being sold. Some state laws allow a buyer to remove a name directly from the rental application if they change their mind in the future.
What is the lease option term?
The buyer will pay a slightly higher fee for the lease option but for the extra security and peace of mind, they will have the right to sell the home at any time during the lease option period without any price increase and no penalty. The option period allows the buyer to examine how the market performs and will protect the buyer from price declines. It is unfortunate that many buyers find themselves selling because of the price decline.
What are the legally required steps in closing on your house?
The home must have a home inspection, appraisal, eco-friendly certification, regular oil changes and other inspections and tests. The buyer must go through the closing process with the assistance of their lender and a settlement company. Generally, this will take one to three weeks.
With these considerations in mind, you can find a good, qualified buyer with a lot of time on their hands. All real estate agents are not created equal, and buyers need to look to their agent to find the right home or home buyer’s agent for them. Remember that the majority of your questions should center on how they will search, locate, and negotiate a sale. Make sure they are familiar with each of these, and if they don’t know what they are, then there is a good chance they won’t get it done that interests them as well.
Sometimes, those who own property simply have lives that are too busy to take the time to do all of things that typically need to be done to prepare a house to sell on the market… if that describes you, just let us know about the property you’d like to be rid of by going through the “sell your house fast Indianapolis” form on this page.
If you prefer to talk to someone in our office before submitting your property information just give us a call today at (317) 537-1354.
We buy houses Indianapolis, IN and all surrounding areas. If you need to sell your house fast Indianapolis, connect with us… we’d love to make you a fair no-obligation no-hassle offer. Take it or leave it. You’ve got nothing to lose 🙂