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Questions to ask your local real estate to test their local knowledge
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Homebuying Book
Following the national real estate trends may be interesting, but when it comes to buying or selling a home, consumers are better off working with a real estate professional with deep knowledge of the local market. Asking questions of a Realtor before you sign a contract for the agent to sell you a home or list your home for sale is crucial because consumers need to know they are working with someone they can trust.
Washington, DC-based real estate expert Lin Hall from RealEstate.com, has some suggestions of questions to ask that will reveal how much local knowledge your potential agent has:
- How long have you specialized in this neighborhood?
- Can you provide a list of homes you've sold here?
- What kind of house will our money buy us in this area - how big, how many rooms, what special features?
- What can we expect to pay in property taxes?
If you're satisfied with the answers to these initial questions, move on to some more detailed ones:
- Which streets are quiet and which have more traffic?
- Are there streets where there are more young families with children, older couples, a mix?
- What parks, schools, grocery stores, and other amenities are in the area?
- Where are the best schools and shopping?
For buyers, a good local agent will have a solid understanding of the area and be up to speed on new property listings and area trends. If you're selling a home, they'll know how to best price it, and have the connections with other local agents and clients that you'll need to drive interest. Ultimately, your local agent will be your best resource for information on the specifics of your local home purchase or sale.
For more ind-depth information on how to buy a home that will hold its value, buy my book: "HOMEBUYING: Tough Times, First Time, Any Time"
