Making an offer on a home is one of the most important steps in the buying process—and it can feel overwhelming if you’re not prepared. The good news? You don’t have to do it alone.
A great real estate agent is more than just a tour guide. They’re your strategist, your negotiator, and your guide to navigating every detail of the transaction. But to get the most out of your agent, you need to ask the right questions.
Here are 10 smart questions to ask your real estate agent before you submit an offer:
1. How does this home compare to others in the area?
Understanding how the home stacks up helps you decide whether the price is fair—and whether the offer should be aggressive or conservative.
2. What’s the home’s pricing history?
Has the seller dropped the price? Was it recently relisted? These details offer clues about the seller’s flexibility and urgency.
3. How long has it been on the market?
The longer a home has been sitting, the more room you may have to negotiate.
4. Are there any known issues with the property?
You want to know what you’re walking into. Ask about inspection results, recent repairs, or common issues in the area.
5. Are there any pending offers or recent interest?
If multiple buyers are circling, your offer strategy may need to shift quickly—possibly including escalation clauses or waiving contingencies.
6. What’s the seller’s motivation?
Understanding why the seller is moving can guide your approach—whether that’s fast closing, flexible terms, or price sensitivity.
7. How much should I offer based on the comps?
Your agent should help you craft a data-backed offer using recent comparable sales (comps) in the area.
8. Should we include any contingencies?
Contingencies protect you—but too many can weaken your offer. Common options include inspection, appraisal, and financing clauses.
9. What are the total expected costs beyond the offer?
Your offer price is just the beginning. Make sure you know what to expect in terms of closing costs, property taxes, inspection fees, and more.
10. What’s your strategy if we enter a bidding war?
In competitive markets like Chicago, your agent should have a plan for handling multiple offer situations without overextending your budget.
Bottom Line
Before you make an offer, make sure you’re asking the right questions—and getting clear, honest answers. The right real estate agent will walk you through every detail and help you submit a strong, strategic offer that protects your interests.
Thinking about making an offer on a Chicago home? Contact us today to speak with a local agent who knows how to help you win—without overpaying.
