Real estate is a tough industry— especially when it comes to finding the best property agent. Hong Kong is a vast location with hundreds of properties available for purchase at any given time during the year. The catch is being able to lock your sights on property agents in Hong Kong who have the know-how to get you your dream home the quickest way possible. Here are 10 questions you should always ask a property agent before considering a purchase.
1. What are your credentials?
Learning your property agent’s credentials will give you a better idea of whether or not they are the person you would like to have represent you on the market. Credentials allow us to verify the validity of a real estate agent and whether or not they are actually certified and trained to do their job.
2. What is your marketing strategy?
A good real estate agent has no issue with laying their marketing blueprints out in front of you. You want to be wary of real estate agents who are cryptic and do not openly share their methods with you. At the end of the day it is your money that is being invested— not theirs.
3. How much do you charge for your service?
Contrary to popular belief, real estate agents do actually get paid for their service. Although their payment is generally a commission that is earned through the sale of their homes, some real estate agents are hourly or salary workers that will expect payment per hour. It is vital that you know and understand payment methods, fees, costs and scheduling to avoid any hiccups in the purchase further down the road.
4. How much do your properties normally close for?
This number will allow you to have a good idea of what to expect payment wise. This number can also act as a gauge to let you know how much room you should make to cover your expenses, fees and other costs.
5. How close is the closing price to the asking/selling price?
The closer the two prices are together the better the chances of you actually being able to make a purchase is. These two numbers being close is also a good indicator that your real estate agent is a good closer and more than likely has the ability to help you save money on your purchase.
6. Are you a licensed also a licensed broker/realtor?
Believe it or not, not all real estate agents in Hong Kong are licensed brokers and realtors. This is why it is so important to verify their credentials to be sure that you are working with a legitimate worker who is able to handle your business requests.
7. How many more buyers are you currently representing?
It isn’t a good idea to pair yourself up with a real estate agent who is representing more than 3-5 clients. Why? They won’t have the time to put in inquiries, file requests and fill out paperwork necessary to get your home before it’s off the market. While some real estate agents are fine with managing more than one person, many with only take a few clients at a time.
8. How many properties has your company sold in my particular area?
This is a great indicator of what to expect from your real estate agent. The more properties they have sold, the more of a solid foundation they have to work off of to make your Hong Kong home purchase go from a dream to a reality.
9. What makes you one of the best property agents in Hong Kong?
You will want to know what the agent thinks about themselves and their abilities. If they exaggerate or go to extremes with their goals— you may want to further evaluate their work to ensure that they can practice what they preach.
Do you have any references?
When it comes to realty, references are previous clients that have agreed to vouch for the realtor. The longer the list the more rapport the agent has which naturally means they are more reliable. However, you may want to do your homework on real estate agents. Nowadays, you can perform a quick search to discover virtually anything about anyone online.