12 Agent communication is key
While it is the vendor selling, it is the agent you deal with and who can give you feedback on what the vendor thinks about an offer. Therefore always be clear, concise and straightforward with the agent.
Questions to ask agents
Why is the vendor selling?
Knowing the specific reason can help. For example, if a vendor is selling but hasn’t bought their next home yet, you might offer them longer terms so they have the flexibility of staying in their home while they find their next one.
How long has the property been on the market?
The longer a property has been on the market, the more willing a vendor should be to negotiate an asking price.
How did the vendor decide on the asking price?
This is particularly important if the price is not realistic or reflective of market conditions.
What do you have to substantiate that price?
If the information you are given is not comparable to the market research you have done, you can use that in negotiation.
Have there been any other offers?
What do you think it is going to need to get the deal done?
Selling agents want to complete deals. Asking this shows that you are serious about the deal.
You can also ask what you can do to beat an existing offer.