Toggle Menu Header



Home Buyer,

5 basic questions you must be asking the agent before you make the offer

5Mo ago 0 Replies 114 Views
We all want to buy our new home or investment property at the lowest price possible, or at least get good value for our money.
And of course, the vendor wants the most he can get for his property. Yet you now know that the asking price quoted by the selling agent will usually be more than the owner is willing to take for their home. 
It’s just part of the real estate game – they expect to come down in price as part of the negotiation process.
So when making an offer on a house, what should you do?
If you ask the selling agent what price you should offer, you’re asking the wrong person.
Remember, the agent is paid by the seller to represent them and to get the best price possible.
However, it’s usually still worth asking them what they would consider was a ‘fair offer’ and then ask them to justify it with a list of comparable sales.

Here are 5 questions to ask the agent before you make your offer:
1. How did the vendor come to the asking price for their home? 
Was it from the agent’s suggestion or because that’s how much they need to buy their next dream home?
Some sellers are unrealistic and unlikely to come down from their asking price if they have to get a certain amount for a particular reason.
2. Have there been any other offers made?
This lets you know if you have any competition and how serious the vendor is about selling their home at a reasonable price.
3. How long has the home been on the market?
If it’s just been put up for sale, the seller may not be anxious to accept the first offer.
If the home has been on the market for several months it’s more likely the seller would be ready to accept your offer.
4. Why is the vendor selling? 
Are they going through a divorce?
Do they have to move interstate urgently?
Have they already bought another home that would put them under pressure to sell their current home?
This will let you know how motivated the seller is.
5. Has the asking price been reduced during the time the property has been on the market?
This will tell you whether the seller is really keen to offload their home and also let you know that you might have a motivated seller on your hands and perhaps greater bargaining power.

Share on:

Top Contributors Last 30 days

1 InvestAus
2 Anuj
3 Sam2018

Related Posts

NBN connection in St. Leonards

Hey Is St. Leonards connected to NBN Internet?
17Hr ago 8 Views

Widespread structural defects afflicting Australia’s high-rise construction towers

Here’s an incredible, not to mention shameful, statistic about Australia’s building industry. 85% of new high-rise apartment towers are defective. The rate of shoddy workmanship has increased dramatically as governments around the country have encouraged more developers to build more high-density housing as a way of containing urban sprawl. As a result, many unsuspecting buyers, trying to put a roof over their heads, are learning a painful lesson: that the cost of cutting corners is very expensive. This is Australia’s population ponzi economy in action, designed to enrich the property industry and other growth lobbyists at the expense of ordinary Australian’s amenity.  Source: x 85% of new high-rise apartment towers defective - ... 60 Minutes last night aired an explosive report on the widespread structural defects afflicting Australia’s high-rise construction towers. Below is the blurb to the report: Here’s an incredible, n...
22Hr ago 4 Views

The REIWA has urged owners to address the growing need for affordable homes in the state

The Real Estate Institute of Western Australia (REIWA) has urged owners of vacant or specialised properties to support an initiative that seeks to address the growing need for affordable homes in the state. The “Homes for Good” program allows landlords to list affordable properties on the Home Hub platform for people in need to apply quickly and securely. “Homes for Good enables people with vacant or specialised properties an opportunity to house those in need whether it be on a short or long-term basis,” said Neville Pozzi, chief executive officer of REIWA. “Utilising these properties which may not be in use at the moment, will make a big difference to those currently experiencing homelessness. One of the key issues for those who are vulnerable in our society is housing and by ensuring those in need have a secure place to live means they can set down the foundations they need to rebuild their lives.” Get details at:x REIWA launches "Homes for Good" Program allows landlords to list underutilised properties for “those in need”
1D ago 3 Views

Australia Property Prices have risen by around 13 per cent in major cities across the country

The coronavirus emergency has caused a 2.5 per cent fall in house values over the past quarter but overall Australia Property prices have seen a big increase in the past 12 months. Sydney house prices fell 1% in July and have dropped by 2.4 per cent over the quarter. Despite the drop, Sydney house prices have increased by 13.2 per cent over the past year. Values for units and apartments dropped by 0.7 per cent in July to be 1.4 per cent softer over the past three months. However, like houses, the apartment sector is still up over the past year, by 9.5 per cent. The units and apartment sector in Melbourne has also eased, down by 0.7 per cent in July to be 1.9 per cent lower over the quarter. Again, it is still up by 8.2 per cent on the same period in 2019. Source:x Australia Property Prices Rise • Are you thinkin... Australia Property Prices have risen by around 13 per cent in major cities across the country. The coronavirus emergency has caused a 2.5 per cent fall in
1D ago 3 Views

The value of new loan commitments for housing rose by 6.2% in June

The rise in Home Loans in Australia in June reflects the easing of COVID-19 restrictions in May on auctions, open houses and mobility in general. The value of new loan commitments for owner occupier housing rose 5.5 per cent, while investor housing rose 8.1 per cent. The number of owner occupier first home buyer loan commitments rose 3.3 per cent. The value of new loan commitments for fixed term personal finance rose 5.2 percent in June, seasonally adjusted, led by a 20.4 per cent rise in the value of new loan commitments for road vehicles. The easing of COVID-19 restrictions drove the rises in May and June but commitments for road vehicles and total fixed loan commitments for personal finance remain below the pre-COVID level. Source:x Home Loans Recover • Are you thinking Australia?... Home Loans: The value of new loan commitments for housing rose in June, up 6.2 per cent according to the latest Australian Bureau of Statistics figures.
1D ago 53 Views

Reviews on Ettalong suburb

Hey guys Looking for your valuable reviews on Ettalong suburb...I am planning to relocate there with my wife and 2 kids. Please share some reviews about good school schools in the area also. Thanks
3D ago 21 Views
6 online
Deepti Newasker
Ajay Tan
Mehedi Hasan
Hardi Prajaapti
Clarissa Woody
and more ...