What to Ask Your Real Estate Agent About Today's Market

Buying or selling a home in today’s uncertain real estate market requires being better informed than ever before. To make the right decisions, you will need the most current market information as well as creative suggestions to ensure the best possible outcomes.

If you’re working with a reputable, professional real estate agent, he or she will be your best source of information. Here are a few questions you should be prepared to ask so that you’re armed and ready to realize your real estate goals, despite today’s market challenges:

How many homes are currently on the market in my area?
This is an important question whether you’re selling or buying because in either case, it gives you an idea of the competitive landscape. A shortage of homes on the market in your area means more competition for buyers and better chances of a good sales price for sellers. Make sure your real estate agent accurately breaks this down for you.

Are there any down-payment assistance programs I can qualify for?
An experienced agent will help you navigate the financial challenges of buying a home and should be able to inform you of any programs that may be available to help your cause, from down-payment assistance to VA loans. A good agent can connect you with the right mortgage professionals to help you achieve your goals.

What are your expectations for home values in this area in the next several years?
Generally speaking, home prices are currently high. So before you purchase, ask your real estate agent what they expect prices to be in the next 1 – 3 years. If you’re paying too far above what values might be once the market normalizes, then you may want to look for a home with a more reliable return on investment.

Can you refer me to a reliable real estate agent in another state?
If you’re selling your home, you may be looking to relocate, either for a new job or to retire. A good real estate agent will be able to provide you with a referral to other locations you’re considering. This will be essential for successfully managing your next move.