Who said that buying a luxury house is easy? The process is more overwhelming that you would imagine and where do you count that you experience a mix of emotions. The best way to find the house of your dreams is to hire a real estate agent, someone who knows the market and who can help you find options that fit your requirements.
Here are the questions you should ask the real estate agent before making your choice.
Can you recommend me other reliable professionals?
A great real estate agent will have numerous experts in the market they can recommend to you. It’s advisable to collaborate with someone who can point you some professional inspectors who can check the properties and offer you information on their state. Just like other professionals not all realtors are created equally and it would prove helpful to know that they know other experts from different domains that can help them find the best house for you.
In addition to inspectors you will need to work with many other professionals when purchasing a house, so you should also ask them to recommend an attorney, a mortgage lender and an insurance carrier. Make sure you do your own research to find out if the professionals they recommend are reliable or not.
Are you a full time real estate agent?
Buying a luxury house is an extremely time consuming process, so you want to make sure that the person who is helping you is fully committed to this. As a buyer you have many other things to focus on, so it’s important to hire a realtor who is available when you find convenient. A part-time real estate agent not only that cannot offer you the same degree of availability, but they also may not have the same knowledge of the market and the same network.
How many exclusive houses did you sell last year?
As a realtor representing luxury house buyers is different than representing other types of buyers or sellers. They have to complete certain tasks and they are the person responsible during the entire process. So the number of houses they sold the last year can help you understand their success rate. It can also help you understand if they are able to meet their clients’ requests because it’s more difficult to find the right house for a buyer who is looking for an exclusive real estate, than finding a standard house for a traditional client.
On average how many exclusive properties are you showing to a client?
The right answer to this question highly depends on the type of buyer you are. You may be the type of client who prefers to see no more than 5 houses, or you may be someone who would like to see 10 to make sure that you have a clear image of the market. It’s advisable to work with someone who is showing around 10 houses to a client. Why is 10 a good number? Because it proves to you that they are able to identify your preferences and needs, and they can point you in the right direction. A realtor who is showing more than 15 houses to a buyer and who is not able to narrow down the list will not be able to find your dream house because they have no knowledge of the market.
What experience do you have in selling exclusive houses?
Each segment of the real estate market has its own trends and it’s advisable to collaborate with someone who has great expertise in their niche. In some segments of the market houses are listed and sold in around a month, but this is not the case for luxury properties, it can take even a couple of months. An experienced real estate agent will be able to offer you pieces of advice on what luxury property values and on market trends you should expect from this niche.
Also, they could help you narrow down the search to a neighborhood, according to your preferences and requirements.
How can you determine what properties match my needs and wants?
A professional realtor will have a questionnaire or system they use to determine what luxury houses match your needs and wants. You should expect them to ask you multiple questions on your first meeting, they will probably ask you about the price range, location, number of bedrooms and bathrooms, desired square footage, size of the kitchen, and type of heating system. These are the most important details a real estate agent should know when they start looking for a house for you.
Make sure that they are using a system that meets your preferences, and do not forget to ask them if they can provide you some testimonials or past clients contact details. You should discuss with at least three former clients to find out what their experience working with the realtor was.