5 Worst Questions to Ask Your Buyers Agent

When you ask your Buyers Agent questions, the answers you get should help you establish fair market value. The answers to these gems never help but only get in the way. Avoiding these questions will take confusion out of the business at hand which of course is establishing fair market value.

Worst Question #1 – “What percentage below asking price should I bid”?

My advice must be to first find a Buyers Agent you trust. With a little bit of grade school math and some common sense he can arrive at a number that makes the asking price look like a wild guess. Your Buyer’s Agent should be able to nail down the fair market value within 5 percent. The fair market value may be higher or lower than the asking but we are going to ignore the asking price. The number your Buyers Agent comes up with only takes 20 to 30 minutes but that will be a number you can hang your hat on as it was arrived at statistically and hopefully not influenced by personal opinion or conjecture. If you want to check you Buyers Agent’s figures ask him to show you all the sold units he did or didn’t use in his calculations (more…)