There are a number of factors that you need to take into consideration when selling your home and choosing the right real estate agent and one that will be the 'best fit', is always a difficult decision.
6 Tips When Choosing A Real Estate Agent
There are a number of factors that you need to take into consideration when selling your home and choosing the right real estate agent and one that will be the 'best fit', is always a difficult decision. The real estate agent that you choose should be motivated, knowledgeable and attentive to your situation, needs and questions. Selling can be an emotional, stressful time and choosing correctly is often the key to getting the best sales result for your property - whether it be the family home, an investment property or a commercial premises.
1. Do your research
As with anything in property, research is key. Always look for an agent with a history of strong sales results in your suburb. Property and real estate websites may have a section where you can view how many properties the agent has sold in that year, their median house sale price and how many properties they have sold in your suburb.
Average days on the market or auction clearance rates are also incredibly important when selecting your agent. They give a clear insight into what it is like to work with that agent, and what to expect. Put together a shortlist. Consider how many listings the agents have, previous sales, and how they market their listed properties and their own agency.
2. Go for local knowledge
When you meet with real estate agents, find out how long they have worked in the area and test them on their local knowledge. Finding an agent with a deep understanding of the local market is as important as finding one with proven experience in selling the type of property you own.
You would be surprised at the questions buyers have and what matters to them when purchasing. A good real estate agent should know as much about the property and the local area as you do. This shows that they are invested in the local area and have a good understanding of the marketplace. It will also help them bring extra energy and motivation to the sale of your home. Things like where the local schools are, what are the school zones, what are the local bus routes, what is the local coffee like?
3. Go to open inspections
Your agent is presenting your home to the public, so it is important to see how they engage with buyers. The best way to witness this, is to go to the open inspections of your shortlisted agents. Consider what style they are presenting their properties in and how they interact with potential buyers.
Looking after the buyer is often going to get the agent the best result, so they should show respect and transparency at all times. Great communication is the way to gain respect so an agent should be a great communicator, for the buyer and the vendor.
4. Ask questions, lots of questions
Ask the agents you have shortlisted to take you through some of their recent property sales.
What was the process like?
How were the results achieved?
What approach will they take and what will work best for your property?
These are often great questions to begin with.
5. Set benchmarks early
Agents should have a strategy to sell your home from early on. Make sure you have clear objectives and confirm that their strategy is one that you are comfortable with. Check in with the agent regularly to see how they are tracking. A selling strategy should include points on presentation, marketing and negotiation so that the vendor can make informed decisions at the beginning of the campaign.
6. Make sure you are comfortable
Are you comfortable having this real estate agent sell your home?
The agent selling your property will become your business partner for the sales campaign working towards achieving the same goal, so it has to feel right. Be mindful of agents selling themselves on the ‘lowest fee’. The agent with the lowest fee usually means a discount in the service you might receive and ultimately, may not achieve the desired result.
Research, stay local, test them out, ask questions, set benchmarks and above all, feel comfortable with the agent you choose.