Learning About Real Estate Listings and Agent Services

Three Questions To Ask Your Real Estate Broker When You Are Out Of State

by Elaine Ryan

Moving out of state and not being able to watch your property means that you need to put someone in charge of the sale. The best person to take over the care and sale of your property is a real estate broker. Real estate brokers can represent you for finding a buyer or finding a renter. If you are not able to be hands-on with finding a buyer, you will be able to communicate with your real estate broker who will be on the project. Here are a few questions that you should ask your real estate broker when you are away and in the process of looking for a buyer. 

Have any sales been made in the neighborhood?

One of the questions that you should ask on a regular basis is if any sales have been made in your neighborhood. If there are sales being made to homes on your street or to similar homes in your community but yours remains on the market, you may need to go back to the table with your pricing. When there are more homes going up for sale, you will need to keep an eye on prices, as this can cause competition for buyers. If your prices are higher than average or if other homes have more space or amenities, you may need to throw in a few perks to make a sale happen quickly. 

How is the rental market?

Every market will have ups and downs. This goes for the rental market as well as the home sales market. If there are more renters looking for homes in your area than there are buyers, it may be in your best interest to switch to looking for a renter temporarily. Your real estate broker will be able to represent you in a rental as well as a sale. If the rental market appears to be growing in size in your area, discuss changing the terms of your contract to a rental versus a sale. 

Are there new developments?

New housing developments near your home can present an interesting situation. If there are offices and major companies that are moving in the nearby area, you can expect an influx of employees who are looking for a home near their job. If there are housing developments being put up inside of your area, there may be even more competition to sell a home that is older. Staying abreast of brand new changes to the neighborhood will keep you knowledgeable of what to expect from a home sale.