7 Questions to Ask when choosing a Denver Real Estate Agent

When compared to most major markets out in the Midwest and Northeast, the Denver real estate market has been expanding at an incredible rate. Currently, the greater Denver region contains more than 3 million residents and this number is expected to continue growing into the perpetual future.

Investing in the Denver real estate market can be incredibly lucrative. Most properties—whether luxury estates, individual condos, or anything in between—are expected to increase in value over time, making an investment in Denver real estate an excellent vehicle for increasing your wealth. However, if you are hoping to take advantage of this unique opportunity, it will be important to find a Denver real estate agent that is able to meet your specific needs.

Recent estimates indicate that there are currently over 1.3 million licensed real estate agents in the United States. This means that in the greater Denver area alone, there will be more than 13,000 real estate agents available to choose from. While most of these agents will be able to help you find (or sell) the home of your dreams, you will clearly still need to narrow down your available options.

Before selecting a real estate agent—whether you are planning on buying or selling—it will be very useful to conduct an initial interview. In order to prepare for this interview, you will want to generate a list of preliminary questions.

In this article, we will list seven of the most powerful questions you can ask when trying to decide which Denver real estate agent is right for you. Though you may be overwhelmed by the sheer number of real estate agents and firms available in your area, these questions can help make the search much more manageable.

1. What is your experience selling in the greater Denver area?

If you are buying or selling real estate in Denver, you will want someone who has experience working in the area. Only by working with someone who is familiar with each of Denver’s distinct neighborhoods and suburbs can you make sure that you are actually getting a good deal. If the individual agent you are considering has moved from out of state and is new to Denver, you will at least want to make sure they have someone on their team that can help.

2. Are you part of a team or do you sell individually?

While some real estate agents are a part of a much larger team, others prefer to work on their own or run their own agency. By choosing someone who is a part of a team, you will likely have access to more resources (such as critical real estate software) and you will also have access to a greater variety of experts. For example, within the team, there may be a mortgage expert, a listing expert, a marketing expert, and various others.

There are also a few benefits from working with an independent agent. You will be able to be made a higher priority and the cost of buying or selling your home may marginally decrease. Still, most people still prefer the benefits that only an experienced team can provide.

3. Are you willing to address my specific set of needs?

When you are in the process of purchasing a new home, you likely have a very specific set of needs that need to be met. A few example of these needs might include:

·      Living in a highly rated school district

·      Having a pool or other luxurious amenities

·      Being near a specific location (work, entertainment, transportation routes, etc.)

·      Having a home that is built in a specific style

·      Living in a neighborhood that is increasing in value

Whatever your personal requests may be, each additional qualifier will make the search for your dream home a bit more complicated. While almost all real estate agents will answer “yes” to this question right off the bat, you may want to dive deeper and clarify each of your personal needs.

4. What is your typical ratio of buyers to sellers?

Most Denver real estate firms work with both buyers and sellers. While their typical ratio shouldn’t deter you entirely, it will certainly be worth considering. Firms with more sellers than buyers may already have a list of viable houses to choose from, though you may feel pressured to purchase one of their already listed homes. At the same time, firms that typically have more buyers than sellers may help you list your home sooner and immediately connect with buyers who are interested.

5. Do you have any industry connections?

The real estate market is much more complex than most people initially assume. There are typically many components involved in the process including getting a mortgage, making changes to the property, marketing, and passing inspections. Working with someone who can readily connect you with the necessary experts will undoubtedly be a very valuable thing. When conducting your interviews, you may want to consider asking to see a list of select vendors and contractors.

6. How do you balance budget, location, and luxury features?

When purchasing a new home in Denver, there are many different details that you are going to want to think about. Everything that adds value to your home—such as a prime location or specific luxury features—will also take a toll on your working budget. Some realtors will begin by showing you a home that is well beyond your budget. This will typically result in disappointment or—even worse—you might end up purchasing a home you cannot afford. Finding a Denver realtor that can work within your budget while also balancing other objectives will make you much happier with your final purchase.

7. Why should I choose you as my Denver real estate agent?

While all of the other questions featured in this list are more pointed, this question will give your prospective Denver real estate agent an opportunity to really sell themselves. Each agent will be well aware that you have many other agents available to choose from. Asking this question will allow your prospective choice to talk about their values, goals, selling philosophies, and other notable points of distinction.

Conclusion

Both buying and selling a new home will have a major impact on the course of your life. With thousands of real estate agents available in the Denver area, it will be well worth your time to conduct some interviews and narrow down your choices. Keeping these important questions in mind, you can effectively find an agent or firm that will help you achieve your dreams.