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Triumph at Novi's Competitive Real Estate Market With These 5 Must-Ask Questions
Published: 6/11/2024
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The real estate market in Novi Michigan is performing as predicted in our January 2024 market assessment. Median home sales prices are up by 9.6% from 2023 and the square foot median price by 12.9%. Whilst it can be considered a buyers market right now given the healthy supply on the market, homes are still selling quickly and above list price. Whether you’re buying or selling, in a market this hot, making sure you’ve got the right professionals on your team is critical to success. So how do you do that? Ask the right questions to your real estate agent before hiring them. Since they are going to handle either buying or selling your home, there isn’t anything like asking too many questions. It's very important to build a connection between you and the agent before handling paperwork and other forms of dealing. This can help determine their skills and build trust with them. So, here are the top 5 must-ask questions to your potential Novi, MI, real estate agent. Real Estate License You might not be aware, but a legit real estate agent has a state approved license for selling properties. Hence, asking this is an understandable requirement when interviewing your real estate agent. A professional agent will have no issues showing their license, any excuses saying otherwise might be a red flag. If they are unable to provide a genuine license, then feel free to move on. Referrals and Previous Employers It is an obvious assumption that a real estate agent can provide you with their list of referrals or mention previous employers. If during the initial review, the agent is unable to provide their listing, this can be a sign of unsatisfied customers or lack of experience. Their Availability There is a chance that, if a particular listing appears on the market and it is your preferred property—you will want your real estate agent to close in on it as quickly as possible. If he is unable to pick up your call or is unresponsive, you will lose your desired home immediately. The better the property, the more likely it is to be sold quickly. On the other hand, to avoid a similar situation, coordinate with your agent at a preferred time and communication channel. Their Current Client Knowing the number of clients is important, because you need to know how much attention can be paid to you. If the real estate agent is jiggling several clients simultaneously, it will mean they will have less time to handle your requests. Furthermore, you should also get guesses of their connections, which may or may not have a buyer for a property you might be interested in. Since if you are a potential buyer for a property they are representing, then it is a “two birds with one stone” situation. Fee Structure Understanding the fee structure of the real estate agent you are dealing with should be one of your top priorities. Each Agent will have their own fee structure, and inquiring about it is important. This can include the commission rate, but only when you are selling a property. When buying, you don't have to worry about commission, whereas fees can be negotiable. Real Estate Agent, Tom Gilliam is here to provide you with necessary support during purchasing and selling a property. A team of professionals led by Tom himself. Contact us today at or on 248-790-5594 for consultation or visit our website for more information.