Questions You Should Always Ask About Real Estate Investments Before Buying It

Before investing in any kind of real estate, make sure you talk with a REALTOR® first to get all the information you need to make an educated buying decision. Without professional help, you’re much more likely to make mistakes. After all, investing in real estate in Collingwood, Ontario, is not always a straightforward process. 

How Many Other Clients Are You Working With?

Before working with a real estate agent, you’ll want to find out how many other clients they are working with. If it’s just you, that’s a red flag. It suggests there is something wrong with the service they provide. However, if it’s dozens of other clients, then they might not have time for you when you call.

Ideally, you want a qualified, experienced real estate agent working with a handful of other people. This way, they are more likely to be available when you call. 

Do You Have Experience Sourcing Investment Properties?

If you are investing in real estate, this question is essential. You want to find out whether your estate agent has an eye for yields, property value appreciation, and overall returns. Remember, most estate agents only work with residential property buyers. They may not have experience in the rental property market. 

Are You Full-Time?

Asking your estate agent whether they work full-time is another great way to learn more about them. Part-timers might just be dabbling in the activity to earn a little extra money on the side.

Can You Provide Me With References?

A handful of references can give you confidence that your choice of real estate agent is the right one. It lets you figure out whether they are worth the commission they charge.

What Do I Need To Do?

As a client, it’s also wise asking your real estate agent what you need to do to be successful. For most buyers in the Collingwood area of Ontario, this simply means having a mortgage or cash available and being prepared to out-bid rivals. 

Real estate agents will also instruct you on due diligence matters. For instance, they will tell you whether a home needs a survey or if there are boundary issues regarding the property. 

What Is Going On In Collingwood That I Should Know About?

You’ll also want to know what’s going on in Collingwood if you’re planning on buying in the local area. Collingwood is a great place to invest in property, but it helps to get the full low-down on the situation. You should enquire about both short and long-term prospects. 

Do You Work Solo?

Usually, agents work as part of brokerages and larger teams. In most cases, setups like these are helpful for buyers. Solitary agents may not be able to process everything for you in a timely manner unless they have other people working with them. 

If they work with others, you’ll also want to find out how much they charge. Is there administration or paperwork fees? Will then attend house viewings with you or do they charge a fee? These are all questions worth asking. 

Leave a Reply

Your email address will not be published. Required fields are marked *