Sat 27 Jan 2024

What Are the Most Common Questions Estate Agents Receive?

With buying and selling property being such an important life event, it’s no surprise that individuals come armed with numerous questions for our estate agents in Basildon. Enquiries revolve around various aspects of property transactions, ranging from how much a property is worth to understanding the steps involved in the sales process. Read on to discover the most common questions estate agents receive.

What is a property’s market value?

Naturally, this is one of the key questions estate agents get asked since both buyers and sellers want to understand the market value of a property. Sellers want to know how much they can expect to sell their home for, whilst buyers seek reassurance that the asking price reflects the property’s true worth. Most estate agents offer property valuations as part of their services, assessing various factors such as the property's condition, size and location to estimate its market value.

Why is the owner selling?

Buyers will often ask estate agents why the owner of a property has decided to sell. Understanding the reason behind the sale can provide insight into the seller's motivation. For example, it might reveal if there's urgency to sell or potential issues with the property, which means they might be willing to accept a lower offer. Discovering the owner’s motivation for selling can help to influence a buyer's negotiation strategy and approach towards making an offer on the property.

How long has the property been on the market?

Another common question received by estate agents is how long a property has been on the market. Prospective buyers tend to ask this question to gauge the desirability of the property and determine how much room there is for negotiation. Properties that have been on the market for a long period of time might be seen as less attractive or potentially overpriced. Buyers could also infer that there might be underlying issues that are deterring people from considering the property. If a property has been on the market for a while, buyers might believe the seller is more willing to negotiate on price.

Have any offers been made on the property?

Many buyers want to know if any offers have been made on a property that they’re interested in. This helps them to assess the level of competition and how quickly they need to act if they want to make an offer. If the property has multiple offers on it, it tells them that it is in high demand and that they should act swiftly or even offer more if they want to secure it.

How much commission do you charge?

One of the first questions sellers have for estate agents is how much commission they charge. This relates to the fees an estate agent charges for their services upon successfully selling a property. The amount is usually reflected either as a percentage of the sale price of the property or as a fixed rate. It’s important for sellers to consider this figure carefully when choosing an estate agent, as different agents have varying commission structures or fees due to different levels of service.

If you are planning to buy or sell a property, get in touch with our experienced estate agents in Basildon today. You can reach us by calling 01268 271 110 or by sending an email to mailto:msales@balgoresbasildon.com.

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