When it comes time to sell your home, there are so many options and real estate agents will be begging at your door for the business with many little tricks to get you to decide to choose them as their real estate agent.
The first piece of advice we usually hear from family or friends are one of two things or both even – get three realestate agents to give you an idea of price and choose the lowest fee or use the agent that sold for us/family member or friend as they did a good job.
The issue that lyes with the first option is that you are possibly going to get an agent that you do not know very well at the lowest cost quoting the highest price to sell what is potentially your biggest assett, which creates a few problems in itself. Example, you tell agent a, b & c that you have three agents coming in and you are looking for the best price and the lowest fees, if the agents agree to make the appointment with you, we know that they are wanting your business and that agent knows they will have to sharpen their pencil and quote a selling price that you are happy with otherwise there is a big chance they are not going to get your business. What this often creates, is a price too high in the current market, a lengthy time for you as the seller as well as lack of communication with your agent as he/she has minimal to tell you, and when they do – its about bringing your advertised price down. So the end result here is an unhappy property seller, an agent which has quoted the wrong selling price which has been rewarded with the business and the honest agent missing out – everyone loses.
Selecting an agent based on the second option is a better option than choosing three agents desperate for your business and will reduce fees at a higher selling price simply because they have proven themselves. In saying that, I would be making sure the agent goes through the marketing process (will gain as much exposure as possible for your property) and gives evidence of an expected sale price. All that aside, there is a better approach to selecting your agent than an experience that someone else has had with an agent. keeping in mind that the person which reffered this agent has a good story to tell based on the connection the agent and the great result upon selling the home. Majority of a good story if you look through their >>testimonials<< “of course” negative feedback is going to not be spread out through the public as it doesn’t help the cause of listing and selling property – therefor every agent has a good story.
A brief introduction to marketing your home for sale….
The number 1 way to select your agent…..
If I were selling my largest assett, I would be making sure that I can “TRUST” the person which I have employed to do the right thing and is able to achieve the best outcome for me. You may have a gut feeling on the agent you have just met but keep in mind the agents job is to do just that and gain business – doesn’t make them a bad person, they are just doing their job to get food on the table.
100% trust can not be gained in a 1 hour interview, it must be gained over a period of time and contact. If you are considering selling your home and do not know a realestate agent, here is what I would do……
Start your research sooner rather than later giving you plenty of time to build enough evidence that you have chosen the right person to represent you and the sale of your home, whether it is a month, two months 6 months or even a year before. Put yourself in buyers shoes as the agent that does the job for you will be dealing with buyers day in day out and you need to know that they are handling your buyer inquiries correctly.
Things to consider when choosing your agent
- Enquire on properties they have for sale to see how much knowledge they have on the particular property and also gauge how they respond to your enquiry. You need to make sure they are giving you as the buyer, all the vital information to keep the buyer interested in your property.
- Go to one or two of the open homes of your potential agent. See how they handle potential buyers and present themselves at the open homes – a huge must is to make sure the agent follows you up after the open home to see if you have further interest in the property.
- Search your potential agent online through sites such as >>google<<, >>homely.com<<, >>company website<< to check property sales and >>Personal Website<<.
- Majority of people are on social media outlets such as >>facebook<<, >>Instagram<<, >>twitter<< and linked inn, not only is it a great platform for marketing, it is also a great way get to know who could be your potential realestate agent.
- If a realestate agent is offering a no marketing cost approach from day 1, be very wary as there is a big chance you may not get the highest price in the current market, due to not telling the entire market that your home is for sale. It is like having a product for sale and only telling your close friends.
- Is the agent of consideration prompt, reliable, does he/she answer the phone when you call or return the message you left?
- Your agent needs to be a strong negotiator… This is a catch 22, of which you usually only find out through placing an offer on a property or hear say from other people which may of dealt with the agent. When you are interviewing your potential agent and they have no issue in reducing fees, this is a potential sign of a not so brilliant negotiator, as if they can not negotiate against you with their fees and lose 1% or so, how can they possibly negotiate the highest price a buyer is willing to pay which could potentially be 10% or 20% more than the offer they will present to you – this is not the agent I want working for me… You get what you pay for…
- Do Not select a realestate agent that you do not trust 100%………… Get to know the person that will be selling your largest assett before handing over the keys.