What are some questions for your real estate negotiator?

For fellow negotiators and homeowners alike, this post probably highlights the relationship and impending communication between the client and the negotiators when they need to know what they are getting. For homeowners, when you’re looking for a real estate negotiator, you might want to stick to those licensed by the Board of Valuers, Appraisers and Estate Agents Malaysia, because these negotiators are bound by a formal Code of Ethics. Also, ask trusted people in your community for recommendations. A good negotiator will know and be active in your community; this experience is what helps the negotiator properly price and market your house.

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Once you have a list of referrals, meet with each of them and ask them some questions. The questions will help you assess how well they do their business, and the meeting will also help you gauge your personal rapport. First find out about the negotiator’s list-price-to-sales-price ratio. This percentage reflects the difference between what the negotiator usually sells a house for and what the agent originally listed the house as. You want this ratio to be as close to 100% as possible. This means that the negotiator both prices homes accurately and negotiates well to get that price.

Some other questions to ask are:

  • How many homes has the negotiator sold in the last year?
  • How will your home be marketed?
  • How familiar is the negotiator with your community?
  • What can this negotiator do for you that other negotiators can’t?
  • Get a list of references.
  • Does the negotiator help you find the other professionals you’ll need to help sell your home?
  • What guarantees does the negotiator make?
  • What is the negotiator’s policy regarding canceled agreements?
  • How much time will the negotiator spend working on selling your home?

Make sure to review all the paperwork you’ll have to sign with the negotiator, such as contracts, disclosures, and listing agreements. Lastly, you might be able to negotiate the negotiator’s commission, even if you’re told at first you can’t. Definitely, negotiate the sales commission if you’re also planning to use the same negotiator to buy your next house.

For negotiators, the above merely point out that homeowners nowadays are well prepared and informative compared to yesteryears. We have to stay informed and diligent enough to  carry our task and always, be professional about what we do and how we do it. When it comes to handling someone’s property, we have the responsibility to act intelligently and be accountable to what was entrust to us.

Hope the above article helps and prepare us to be a more professional estate negotiator! Cheers!

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