Along with other important questions that the buyer might have, most agents are so excited to add a listing that they neglect to ask the seller why they are even selling to begin with.
This is an important question that any buyer should be asking. If the agent does not know certain crucial questions that you need to know, they can ask the seller way before you make a purchase offer.
Use planning and research to make sure that you are picking the right home and mortgage.
What is an Off Limit Question to the Listing Agent?
Is the Seller willing to accept a lower offer? (Or any variation of this question)
Even if the seller was firm that they would not lower the price, the agent cannot answer this question because a seller’s decision on price may change from day to day due to many different situations that may arise.
If the agent does know the seller’s bottom line they could put themselves in harm of legal ramifications by undermining the seller/agent relationship and confidentiality.
Agents are human and might accidently disclose information that they shouldn’t, but an ethical agent would not do business like that on purpose.
What are Some Questions that You Should Ask the Listing Agent?
There are many questions you may want to ask, including:
- Why is the seller selling their home? - Sometimes the seller will not disclose this information if they know that they need to sell no matter what and in a hurry. If there was a death, divorce or other financial issue this might encourage buyers to offer less.
- How many Days has the House been on the Market? - This is an important question to ask. If it has for a long time then the home may be overpriced or you might be able to offer a lower amount if they are motivated to sell.
- How many offers are on the table, currently? – By asking this, you will know what the competition is like.
Further Questions worth Asking
If there is something that you question during the showing or what you have read on the listing, be sure to ask. Sometimes there may be a surprising answer and additional comments the agent might be willing to share.