Best Questions to Ask Your Realtor In a Changing Market

Best Questions to Ask Your Realtor In a Changing Market

  • McConnell Real Estate Partners
  • 04/20/23

You’re not an expert on the market for Daniel Island homes for sale, but thankfully you don’t have to know everything about where the market is headed or what it is doing right now. Your real estate agent is deeply involved in the local market, and they can answer many of the questions you have. Here are some of the first questions you should ask your real estate agent about the market for Isle of Palms luxury homes as you get ready to buy or sell a home in the area.

How does the current market compare to where the market was six months ago?

If you prefer to ask about where the market was three months ago or one year ago, that’s fine as well. It doesn’t have to be six months. The point of the question is to learn about current market trends and how things have shifted or changed in the recent past. This will give you a better idea of where things might be headed in the next several months.

What is the current inventory like?

Knowing how many homes are available for sale will help you understand the current levels of supply and demand. This will impact how you proceed regardless of if you’re buying or selling. If you learn that inventory is low, you’ll want to prepare to act quickly if you’re looking to buy. You shouldn’t anticipate having much negotiating power when you find a home that you like, especially if homes are selling quickly. If inventory is high, there’s a better chance that homes are spending more time on the market. Sellers should prepare to work harder at marketing and staging, and they may not want to price their homes too far above their appraised values.

How is the market trending?

This question will help you determine if now is the right time to buy or sell a home. Your realtor’s answer to this question could lead you to act with a greater sense of urgency, or it may make you wonder if it’s wiser to wait before you take action.

What are comparable properties in the area selling for?

Your real estate agent should have an understanding of what similar properties are selling for in the area. If you’re looking to buy, this can help you evaluate if a certain home that you’re interested in is overpriced or underpriced. If you’re getting ready to sell, they can run a Comparative Market Analysis for you, which is a report that helps you understand what your home’s value might be relative to these recent sales.

What sort of timeline should I anticipate?

Many people want to know how long the buying or selling process will take. Your agent has a wealth of experience in this area based on what they have seen when working with other clients. They can help you understand how long it may take you to complete the process based on what is typical and where the market currently stands.

How will you market my home?

If you’re getting ready to put your home on the market, you need to know how your agent will help you spread the word about your home’s availability. This is the only way to generate interest in your home among potential buyers. It doesn’t matter how well you stage your home or what upgrades you make if you don’t know how to tell people that your home is for sale. Spend time talking with your realtor about how they have marketed other homes. Ask about what trends are developing and what new or cutting-edge marketing strategies are rising in popularity.

What challenges should we anticipate?

These challenges could be unique to your particular home or situation, or they might be common for all buyers and sellers in your area based on the current state of the market. Either way, it’s important that you’re prepared for the road ahead. Your agent should understand what challenges could be around the corner. They should also have an idea of how they can take steps ahead of time to anticipate and avoid these challenges.

How do you communicate with your clients?

You don’t want to work with a real estate agent who you can never get in contact with. Ask your agent about how they usually communicate with their clients. You can also test any theories that you have by reaching out to your agent to ask a question. Pay attention to the content and the timeliness of their response, especially if you haven’t officially agreed to begin working together yet. The way they communicate with you will tell you something about their regular habits and routines. If you don’t hear back for several hours or if you get a short canned response, chances are high that this will be your experience throughout the process.

How will the current economic situation affect the market?

Many people have questions about how high interest rates and heavy inflation will impact the market both now and in the future. Your agents have been thinking about this as well, and they can provide you with greater context about the effects that these issues may have.

What are the best neighborhoods in the area?

Whether you are looking to invest or simply thinking about the best place for you and your family to live, your agent will help you understand which neighborhoods you should consider first as you think about where to purchase property.

The McConnell Real Estate Partners understand the market for Daniel Island homes for sale as well as anyone. They answer questions like the ones you read about above on a daily basis, and they handle each question with respect and care. They truly value their clients, and they want each customer to have the best possible experience during their working relationship. Reach out to their office if you have questions about the current state of the market or if you’re looking for someone who can help you buy or sell a home in the area.

Work With Us

Whether you're looking to buy, sell or invest in real estate throughout the Charleston area, we would love to share our passion and market knowledge with you.

Follow Us