25 Questions to Ask Your Real Estate Agent

The last thing anyone wants is to buy a property that turns out to be structurally unsound or one that doesn't fit long-term expectations.

With closing costs, the stress of the process for potential buyers and homeowners, the time that a home inspection takes - you want a real estate professional with a solid track record that can guide you along the process all the way from discussing listing prices to closing a sale.

What people forget when they go house hunting is that the home isn't just four walls and roofing—it's an investment, and all investments carry risk.

Real estate agents spend their days dealing with trends in the market, perusing the local real estate board, and keeping up to date about the latest changes to the requirements for a mortgage loan. Agents work to make sure that your real estate transaction is one that you can be satisfied with.

Not asking enough questions about the house could mean your investment is at risk of decay or even collapse. And you don't want the investment you live in to decay or collapse.

Before you sign on the dotted line, do some digging. There are some things that are far from obvious that can evolve into massive problems.

When that happens, you also need to know who will be responsible for any repair work that might need doing in future. With a little bit of research, you can avoid a few nasty surprises down the line—and save yourself more than a handful of dollars while you're at it.

So, to make sure you're properly informed about one of the most important purchases one can make, take a look below at the key questions to ask your real estate agent.

1. "What maintenance agreements are in place for the roof, floors and drains?"

It's not exactly a fun topic to talk about, but they are necessary if the residents of the house have neglected their responsibilities for any reason.

A buyer's agent would normally ask questions like these but speaking up yourself is a good idea to show that you did some research when it comes to the pursuit of your dream home.

2. "Who will be responsible for inspecting these, and how often?"

These are critical elements, no one wants to wake up in the middle of the night because literal rain is falling on their face because of a leaky roof. Timely repairs and preventative inspections will give you peace of mind.

3. "How much is this going to cost me per year?"

This is critical for your budget. Even if you've made headroom in your finances, hidden costs can add up quickly and throw a wrench in your future plans.

4. "Are there any drainage issues that have been noted?"

Even if they have not been critical in the past, it's important to know what areas might cause problems or have caused problems in the past. A closer look might reveal something important.

5. "What will happen if those issues are not resolved?"

This might seem like an obvious follow-through but you'd be surprised how often don't go ahead with the 'obvious follow-through'. Water damage can involve expensive, drawn-out repairs that will drain not only your funds but stress you out.

6. "How long have the present owners been living there for?"

If they say less than five years, be suspicious. It might be more than just the owners changing their minds and you need to get to the bottom of the real reason.

Sometimes, this means there is a lease on the property that has another three or four years to run—and you'll be responsible for paying that, even if you're not living there.

7. "Can I get hold of the lease to prove this?"

Remember, these are questions you need to ask your agent. It's best to leave all the negotiating in their hands, navigating complicated situations is their bread and butter.

A real estate agent's commission is their payment for pouring over things like a listing contract, the lease, and explaining things like title fees and why a certain percentage varies in your mortgage.

If you're unsure of what you're reading, ask them to expand. Real estate is a complicated field that isn't just moving a lamp or two for open houses.

8. "What's the best way to contact the former tenants?"

If they say the original owner doesn't want any future contact, be suspicious. This often means said ex-owner has foreclosed on the property and doesn't want any current information to get out.

Furthermore, ask them if they have previous clients that have gone forward with a purchase like that in the past and how it went for them.

9. "What's the history of this property?"

If they're not sure, ask them what their source is for that information. If it's hearsay or gossip, you might be better keeping your money in the bank until you have something more reliable. If the asking price is suspiciously low, do some digging. Homes sell all the time with bad surprises waiting to emerge.

Make sure that the selling price truly reflects the value of the home. Factor in the closing costs to be certain you're not leaving money on the table.

10."Who do you recommend I use as a surveyor?"

Your real estate agent should have reputable connections with local professionals they can refer you to if you need any future work done on your house.

If they don't, this is one of the few times when shopping around is actually acceptable!

11. "When, exactly, will the property be available?"

If they can't give you a specific date, this might mean there's another interested party who has expressed their interest in buying it.

You'll need to make sure you get your offer approved before theirs does!

The closing process is nerve-wracking, you need to make sure that during the sale, no matter how many clients your real estate agent has, they can give you the same time as their other clients. If you want a good idea of what their history is like is to ask about their past clients and how satisfied they were.

12. "What are the terms of purchase?"

Your agent should be able to give you a detailed breakdown of what your monthly mortgage payments will look like, and how long it will take you to pay off the whole amount.

Open houses are nice but they don't tell you about all the details that you will need to navigate to a successful sale. You need to be aware of these details so that you and your financial institution can work out how the pay off all the costs.

13. "What did this place cost originally?"

If they can't tell you that specific figure, ask them why. If they're not sure, and cannot estimate then that means something unusual is going on with the property.

Your agent should always be honest with you and have your best interests at heart - if they don't then it's time to look for another agent.

14. "What sort of repairs need doing?"

There's no point paying rent on a place that will be falling apart around your ears sooner rather than later. If the agent can't tell you right away after looking at the building, this is another red flag.

15."Will I have to change anything before I move in?"

A good agent will be able to tell you whether there are any major, structural changes that will need doing before you take up tenancy. If they're not sure, it might mean they haven't had a chance to look at the property yet— don't make any decisions until they get around to doing that.

16."What's the worst that could happen?"

You might be surprised by the answer. For example, if you buy a property with a faulty drainage system—and neglect to fix it—you could end up paying for an outside company to do the job for you at great cost.

Those are things your agent should have told you about before signing on the dotted line.

17. "What's the best thing that could happen?"

Buying a new home can be expensive, but it doesn't have to break the bank.

If you are able to get your home at a very low price, expect to take out a larger mortgage—which means more monthly repayments—but also greater equity in the long term. You could end up with a successful, money-making investment that will pay for itself and your original purchase over and over again.

18. "Are there any hidden costs?"

This is probably the most important question of all! You don't want to buy a property then find out later that there are hidden costs—such as a huge amount of damage needing fixing, or a large sum of money to be paid back immediately.

A home sale is a big endeavour, sometimes things fall through the cracks. You don't want the horror stories of having to pay attorney fees on top of the offer price if there's a nasty surprise waiting for you. It's a good idea to dig a bit deeper to make sure that you're not buying one of the many homes sold in bad faith by previous owners. Ask about home inspections and the like early on the process.

19. "What's involved in buying the property?"

If they don't have a detailed list for you, look elsewhere! No property is going to be a perfect purchase. There will always be small problems that crop up—and you need to know what they are before signing on the dotted line.

20. "What are my rights as the homeowner?"

Having this information could save you money in the long term, so make sure your agent is able to give it to you straight away. If they can't, do some research yourself! Knowing whether or not there is a homeowner association if there are restrictions on what you can do or not around the property, or other unexpected things are critical to your eventual decision.

21. "How experienced are you?"

It might be an awkward question to ask your real estate agent up front but it's important that you have an idea of their recent sales and if they have satisfied clients that could be willing to speak to you.

Some agents are part of a national association along with other real estate professionals, ask them about their relationship with other real estate agents and that should give you an idea of what their network looks like.

Real estate professionals need to take exams and renew their licenses regularly. If you're dealing with a big piece of real estate in a difficult market, you're going to want someone who has experience being a listing agent, a seller's agent, and a buyer's agent - and maybe more! - in the past to make sure they know how to view that deal from all angles.

It's not just about the final selling price compared to the asking price, there's a lot that your agent can do for you. More than just thinking about the net proceeds.

22. "What kind of market are we in?"

You should get a good idea of what a seller's market and a buyer's market is, this is something your agent can explain to you in detail and will influence the selling price of a house. It's also something that determines that the right asking price is for a property.

Basically, the type of market you're in determines who has the upper hand in the selling process. The best agents will tell you when it's the best for selling homes or when it's the perfect time to make an offer on your dream home.

It's a question of supply and demand, if that makes sense, if there are more houses than buyers, then an interested buyer has the upper hand whereas if the opposite is true then a seller's agent can advise them to ask for more money.

The best price depends on which side of the table you're on and exactly what you're looking for - it's not something you can directly control but well worth asking about.

You don't need in-depth knowledge about the market and how many sellers there are in an area, but real estate professionals should be able to give you an idea.

This is why a good agent will bring a buyer to an open house in a different area to see if the market there is more suitable for your needs.

23. "Is there anything that the agency hasn't told me?"

If they say no, ask them anyway. There might be something like an unstable foundation that's very expensive to fix, or a clause in the lease that you can't do certain things in your home without breaching it. You don't want to discover this after you sign on the dotted line!

24. "What other real estate services do you provide?"

Where you're a buyer or a seller, there's a good chance that the agent you're working with does more than just one type of representation. Should you want to sell your house in the future, you can get in contact with them and ask about additional services they can offer.

When selling a house, for example, they may have support staff that can provide things like a marketing plan, or take care of staging a home for an open house. If you recently sold your home, and want to get into the real estate market, your real estate agent is the first person you should contact.

On top of fielding potential buyers and finding out the perfect listing price, they can provide you with a wealth of information. Real estate services often go far beyond what you expect.

25. "What does X mean?"

During the interview process or at any other time, you should feel comfortable asking questions about terms like the difference between the buyer's agent and the listing agent. It's okay not to know things at first, that same transaction you're all looking forward to - the buyer, seller, and agents - is one that needs to have everyone on the same page.

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