13 Aug CHOOSING THE RIGHT AGENT
When you decide you sell your home, your return should be maximised. When it comes to choosing the right agent, one thing you should not do is to select based on who has the least commission. You’re selling an investment, so it’s very important that you work with the best agent or agency. We have these tips for you.
Perhaps a friend or a family member of yours recently sold their property? If so, reach out to them and ask who they recommend to do the job. Ask about their experience from the time they were looking for an agency up to the time they got their property sold. Model your plan to their experience and move to the next step.
Another thing you want to check out as well is reviews and testimonials. If you already have an agency or an agent in mind, it pays to check how they are doing from the property buyer’s and/or seller’s perspective(s). The reviews and the testimonials you’ll come across with should give you a hint about working with a specific agent.
Do your research
The Internet is a living host of billions of information. Start by searching for agencies in directories. Preferably, research the agencies within your area first because they’ll be easier to get in touch with. You can also build on their familiarity of your area as a key factor towards your home’s marketability.
While online, do not forget to check out who made recent property sales in your area and the agency that they represent. You can use the list you made in the directory to move from one agency or agent to another. Doing this gives you an idea about who the performers are in your area.
Watch them in action
In case you can’t decide on whom to get in touch with, you can go out there and watch your prospective agents in action. Book your attendance to property presentations or inspections and watch how the agents do their thing. In particular, pay close attention to punctuality to determine the agent’s value of time.
Second, take note of the agent’s professional demeanour. This includes how he conducts himself before his audience, how he speaks to them, how warm he is, and how he answers questions. Finally, check what type of follow up is being implemented to sustain buyer interest.
Learn about the depth of their experience
When you finally get to talk to an agent, ask him more questions about his experience in selling a property. Ask about the types of property he recently sold, the marketing strategies he employed to sell it, how he sold it, and the time it took for him to sell it. These things will tell you how efficient he is in doing his job.
Another thing that you want to know is his familiarity with your area. A veteran sales agent may have moved from one state to another. Recognising the familiarity with your area is a factor in your property’s target audience marketability, the agent should know about your competition and how to use that to market your home.
Find out about their market knowledge
Familiarity with the competition is not enough. Your agent should also know how to properly assess the value of your property and justify it. He should explain what needs to be done in order to add value to it. This is where the option of property styling comes in. After all, value-added work translates to a higher return.
Next, he should be able to present the different avenues for marketing your property. He should also be able to assess if one or more types of target market is suitable for your property. Finally, he should be able to tell you how he gathers feedback from buyers and how he’ll communicate that to you.
Study the fine print
Just because you listed with an agency doesn’t mean that you’re free of obligations. Whenever you sign an agreement, it automatically becomes legally binding. As such, you can’t fall short when it comes to your responsibilities and your accountability. Understand what you will sign up for first so you know what you need to deliver.
In reverse, you should also make it a point to read the terms and disclosures of the listing. Understand the agent’s and the agency’s part in the selling process, what constitutes a breach, and so on. Don’t make mistakes in this part; you can’t afford to go through something legal when all you wanted was to sell your property.
Ascertain ongoing communication
Once you agree to list with an agent, make sure that you receive communication from them in an ongoing basis and vice versa. Their lines should be open for you, and that you should be notified about what’s going on the whole time your property is open for sale.
The danger with inconsistent communication is that you won’t get the peace of mind you wanted from listing with an agency. That’s why the level of comfort you feel towards an agent is important. The more comfortable you are the better working relationship you develop. What more; selling a property requires trust.
Did we make selling a property a little daunting? It’s not. You list with an agent so you won’t have to go through the processes of selling your home. That makes it more important for you to find the right agent.
We welcome everyone’s ideas or comments about how an agent should be chosen. Please send us your feedback or questions at Belinda@bgpropertyservices.com.au. If not, feel free to visit our website to learn about the services that we offer.
Photo: Keeping Current Matters / Dean Hartman