Ask the tough questions. You need all the info to make a good decision.
Whether you are selling or buying a home, the real estate agent you hire is critical to guaranteeing your family makes the right decision. Most agents can walk you through the process and explain the industry 'lingo,' but you should expect so much more than that.
The housing crisis made everyone aware that truly understanding the real estate market is more complicated than it seems. Today, there are many questions your real estate agent must be able to answer to ensure your family is making the right decision. Here are just a few:
- What impact does the movement in mortgage interest rates have on buyer demand?
- With home prices increasing rapidly, are we headed toward another housing bubble?
- Do you need a 20% down payment to purchase a home?
- Why can't we list at a higher price and drop it later if necessary?
When you are interviewing an agent to represent your family in your next real estate transaction, make sure they can intelligently answer all your questions, while simply and effectively explaining what is happening in the current housing market.