An open house is a great venue to extract information that is not available in the online marketing materials. The listing agent of the home is often present and prepared to answer any questions a buyer may ask in events like these.
Below are series of questions you may ask to any listing agent that will you make a more informed decision.
1. WHAT IS THE REASON FOR THE OWNERS TO SELL THIS PROPERTY?
Being aware of the motive of the owners as to why they will sell their property will be a perfect indicator if the home and neighbourhood is a good fit for you. The listing agent may not actually tell you the “real” reason as to why the owners are selling but by asking this question, you can watch and check his reaction or body language-this will then give you an initial idea if there are problems.
An excerpt from finance.yahoo.com about body language:
"Only a small percentage of communication involves actual words: 7%, to be exact. In fact, 55% of communication is visual (body language, eye contact) and 38% is vocal (pitch, speed, volume, tone of voice)."
If you observe that there is uncertainty over his answer, its would be best to ask for the help of your agent to investigate further on the property and see if the listing agent is hiding something.
2. WHAT ARE THE ISSUES THAT NEEDS TO BE FIXED IN THIS HOME?
Listings agents should divulge any problems or issues with the home to potential buyers. Whether its cracks or leaks, these “minor” issues may cause major headaches in the future.
It should be the listing agent’s moral responsibility to let potential buyers be aware of these issues. The best tool you can use to force them to spill the beans is to request a “seller’s disclosure statements”. This document will have a full list of problems within the home.
If you really like the home, your second security option is to hire a home inspector. A reliable one will help you thoroughly check the true state of the property. We at Team Leading Edge have partnered with some of Edmonton’s top Home Inspectors. You may check them all out here: Edmonton Home Inspectors
3. WERE THERE ANY PRICE CHANGES?
This info will let you know if the price is negotiable. If price drops occurred often, it is prudent that you analyze the situation of the home and discuss this with your agent. There could be something that other buyers noticed (but you missed) which kept the home from being sold.
4. HOW MANY WEEKS/MONTHS HAVE THIS BEEN LISTED ON THE EDMONTON MLS?
It’s true that you can easily get this information off the Edmonton MLS but asking this particular question directly on the listing agent will give you a deeper understanding on how long the property have been lingering on the market and why.
Homes that have stayed on the market for far too long (let’s say, 90+ days for example) are more difficult to sell; this opens up a great opportunity for you to bargain with the seller.
These 4 simple questions are just a few of the hundreds of questions that you can ask. The end game here is not to waste your time with worthless questions but get you information that’s direct to the point.
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Note: Remember, you can access all our available Homes For Sale in Edmonton through our Edmonton MLS Listings page.
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