There’s an agent out there for every homeowner...
How to choose the right one for you.
It’s fair to say, real estate agents, get a bad rep. And sometimes, we do bring it on ourselves with the flashy cars and the fast-talking – it’s all a bit cliched and cringeworthy. But the vast majority of agents are your average mum or dad and like everyone else, they’ve got a job to do. Their job is to get the best price for the homeowner selling their home. A good agent can make all the difference and help minimise the stress for a seller and a buyer. So, it’s important that when you’re selling your home, you choose an agent you trust and one who will work for you. Sounds obvious and simple but for many people choosing an agent is just as stressful as the house sale itself. It doesn’t have to be.
Do your homework
As a potential seller, you should research the agent you’re thinking of using. Look at their past sales, how they market properties, go to their open homes and observe how they treat prospective buyers. This last point will tell you so much about how the agent will treat your prospective buyers. But the best research you can do is word of mouth. Talk to homeowners in your area, about which agents they have used. You’ll soon know who’s worth signing up or not.
Chat to a few agents
There’s nothing wrong with speaking to a few agents before deciding on who will list your home. After all, you’re about to put that person in charge of selling the most expensive item you own. You need to be sure they’ll look after it and get you the best price. Interview a number of agents and if an agent doesn’t like that approach, then they’re not worth pursuing. And make sure you ask all of them the same questions.
What should you ask?
Now that you have decided on an agent or agents to come to your home for an appraisal, what are the most important questions you need to ask? Here are my top three:
1. What’s your list-price-to-sales-price ratio?
This is important because it shows if the listing agent has a good track record at accurately pricing properties. In other words, have they told the seller their property is worth more in order to get their business, only to sell for a lower price? Or have they started the relationship with the seller on a truthful note.
2. How do you maintain relationships with buyers?
All agents have buyer databases. But buyers are not necessarily loyal to any one particular agent. A really good agent is one who nurtures relationships and has a genuine interest in a buyer’s needs. Without the buyer, you have no sale. So ultimately the buyer is the most important part of the transaction. That is why, it’s important to go to open houses to see how an agent treats potential buyers.
3. How much is my home worth?
Before you ask this question, you should actually know the answer. One trick agents often use, is to over-inflate the value of a home, in order to get the business. Accurately pricing homes is not rocket science. Every agent has ample information about surrounding properties and what they have sold for. So, an appraisal should be based on fact. If an agent over-values your property, there is a good chance they are setting you up for a fall. Pricing a property is something that an agent should take very seriously, and it shouldn’t be based on an owner’s wish or expectations. It should be based on past sales and current market knowledge. If you can do your own research, do it. Sites such as realestate.com.au will have a list of past sales in your area.
Go with your gut
Ultimately, the decision on which agent you choose has to feel right. There’s an agent for every seller. You have to feel comfortable with the person you employ to represent you. Yes, it’s a business transaction, but selling and buying a home is an emotional journey. It’s important to have the right person by your side.
