Points To Consider When Choosing A Real Estate Agent
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- You’ll want a team that has the negotiation skills to uphold the value of your property. When it comes to obtaining the maximum price for your home, a skilled negotiator is an absolute must. If you have interviewed a number of real estate agents and you’ve even asked them to discount their fee, how many of them capitulate and easily volunteer to reduce it? If an agent gives up their own fee that easily, then how effective do you imagine they’d be in protecting the value of your home when dealing with a ‘hard nosed’ buyer? An agent with exceptional negotiation skills can often gain you an extra 5% – 10% more for your home, than a poor negotiator. Who would you want working for you? There is an old saying in Real Estate that it never more true today –‘The worst thing a seller can do, is put the best buyer in front of the worst agent’ -Think about that for a second.
Simple test: Ask your prospective agent to discount their fee and see what they say!
- You’ll want a team that has the negotiation skills to uphold the value of your property. When it comes to obtaining the maximum price for your home, a skilled negotiator is an absolute must. If you have interviewed a number of real estate agents and you’ve even asked them to discount their fee, how many of them capitulate and easily volunteer to reduce it? If an agent gives up their own fee that easily, then how effective do you imagine they’d be in protecting the value of your home when dealing with a ‘hard nosed’ buyer? An agent with exceptional negotiation skills can often gain you an extra 5% – 10% more for your home, than a poor negotiator. Who would you want working for you? There is an old saying in Real Estate that it never more true today –‘The worst thing a seller can do, is put the best buyer in front of the worst agent’ -Think about that for a second.
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- You shouldn’t hire an ‘out of area’ agent who has not sold there previously and does not know your area. You will be doing your property a total dis-service. Its important when selling your prized asset, that you engage a professional who can show a successful history of sales in the area, knows the market values and what has sold recently off the top of their head. They should also know every little nook and cranny of the area, and above all, a local expert will probably already have a database of willing buyers wanting to buy in the area. An ‘out of area’ agent invariably won’t.
Simple test: Ask your prospective agent if they’ve sold many houses within a 1 km range of your home!
- You shouldn’t hire an ‘out of area’ agent who has not sold there previously and does not know your area. You will be doing your property a total dis-service. Its important when selling your prized asset, that you engage a professional who can show a successful history of sales in the area, knows the market values and what has sold recently off the top of their head. They should also know every little nook and cranny of the area, and above all, a local expert will probably already have a database of willing buyers wanting to buy in the area. An ‘out of area’ agent invariably won’t.
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- Don’t give your home away by listing with a ‘discount real estate’ firm. Think about it, if you’re wanting a full value result, and the highest possible price for your home during a marketing campaign, then is choosing a discount real estate company going to deliver a full service result? Highly unlikely. In fact if they offer discounted fees, it usually means their agency won’t attract the highest caliber of agents working for them, and consequently their agents are more likely to be inexperienced and won’t have the requisite negotiation skills to deliver what you expect. And the only way they can compete with the top caliber agents in the market is to cut their fees. Wouldn’t you agree?
Simple test: Ask yourself, Is this who I want selling my most prized asset?
- Don’t give your home away by listing with a ‘discount real estate’ firm. Think about it, if you’re wanting a full value result, and the highest possible price for your home during a marketing campaign, then is choosing a discount real estate company going to deliver a full service result? Highly unlikely. In fact if they offer discounted fees, it usually means their agency won’t attract the highest caliber of agents working for them, and consequently their agents are more likely to be inexperienced and won’t have the requisite negotiation skills to deliver what you expect. And the only way they can compete with the top caliber agents in the market is to cut their fees. Wouldn’t you agree?
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- Be very wary of any agent offering to pay for your marketing up front. In our experience, when an agent promises to fund any “up-front” marketing costs, they become super motivated to recover their investment costs from you as quickly as possible through the sales commission you will pay on a successful sale. Now they actually have ‘skin in the game’ that they will want to recover as soon as possible. The thought of having the agent covering your marketing and advertising costs may sound attractive to you on the surface, however, think about, if this agent receives an offer, there’s every possibility, they will be encouraging you to accept any offer ASAP, simply because they are under financial pressure to recover their marketing costs from the deal. Don’t fall for these types of tricks, as they may help the agent meet his listing quota, but they definitely don’t help you to achieve the ultimate sales price for your home.
Simple test: Ask the agent, will you pay for the marketing costs if I list with you?
- Be very wary of any agent offering to pay for your marketing up front. In our experience, when an agent promises to fund any “up-front” marketing costs, they become super motivated to recover their investment costs from you as quickly as possible through the sales commission you will pay on a successful sale. Now they actually have ‘skin in the game’ that they will want to recover as soon as possible. The thought of having the agent covering your marketing and advertising costs may sound attractive to you on the surface, however, think about, if this agent receives an offer, there’s every possibility, they will be encouraging you to accept any offer ASAP, simply because they are under financial pressure to recover their marketing costs from the deal. Don’t fall for these types of tricks, as they may help the agent meet his listing quota, but they definitely don’t help you to achieve the ultimate sales price for your home.
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- You’ll want an agent that knows how to attract ALL the potential buyers to your home through highly effective target marketing. Not just a few buyers, but ALL of them. In real estate, its true, a buyer can come from anywhere and it only takes one to buy your home. So, doesn’t it make sense to cast your net as wide as possible to attract as many ‘targeted buyers’ as possible? Sure, that may even cost you a little extra in some of your promotional marketing investment, but if it results in an extra buyer or two competing for your home, do you think that might more than cover the additional marketing expense and help you achieve a premium price?
Simple test: Ask yourself, Do I want ALL of the potential buyer’s eyeballs viewing my property or just some?
- You’ll want an agent that knows how to attract ALL the potential buyers to your home through highly effective target marketing. Not just a few buyers, but ALL of them. In real estate, its true, a buyer can come from anywhere and it only takes one to buy your home. So, doesn’t it make sense to cast your net as wide as possible to attract as many ‘targeted buyers’ as possible? Sure, that may even cost you a little extra in some of your promotional marketing investment, but if it results in an extra buyer or two competing for your home, do you think that might more than cover the additional marketing expense and help you achieve a premium price?
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- Do you expect your agent to be skilled and knowledgeable in the latest technologies. Do you expect that they will use quality photography to promote your home, that they will know and advise you exactly what it takes to have your home presented at its very best. Do you expect that they will create a video for your home and actively promote it and your listing on all the social channels, including the most popular Facebook, Instagram and Youtube sites?
Simple test: Ask your prospective agent how they use Social media to promote property.
- Do you expect your agent to be skilled and knowledgeable in the latest technologies. Do you expect that they will use quality photography to promote your home, that they will know and advise you exactly what it takes to have your home presented at its very best. Do you expect that they will create a video for your home and actively promote it and your listing on all the social channels, including the most popular Facebook, Instagram and Youtube sites?
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- You’ll probably also want an agent working for you that has proven industry experience, exceptional empathy, amazing listening skills, a true understanding of your needs and requirements and someone that knows how to read a buyer’s signals. (Strong Emotional Intelligence) It can be really difficult to find an agent that encompasses all of these attributes (as well as the one’s already detailed previously). If you’re considering putting your home on the market, then talk to Warren and Phillipa and discover a team that encompasses all of these business skill sets as well as being warm, friendly and approachable. List with us, and you’ll know you’re in great hands.
Simple test: Ask your prospective agent about recent referrals and if you can speak to them
- You’ll probably also want an agent working for you that has proven industry experience, exceptional empathy, amazing listening skills, a true understanding of your needs and requirements and someone that knows how to read a buyer’s signals. (Strong Emotional Intelligence) It can be really difficult to find an agent that encompasses all of these attributes (as well as the one’s already detailed previously). If you’re considering putting your home on the market, then talk to Warren and Phillipa and discover a team that encompasses all of these business skill sets as well as being warm, friendly and approachable. List with us, and you’ll know you’re in great hands.
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- Lets not forget the importance of communication. Keeping our clients updated on a regular basis is critical to a successful marketing campaign and something we do pride ourselves on. Warren, Phillipa & James commit to providing you with weekly written reports and we will also keep you updated by phone, text or email after each viewing or Open Home, so that you are fully aware at every stage, just how the marketing and promotion of your property is progressing.
Simple test: Ask your prospective agent how often you can expect feedback & communication from them
- Lets not forget the importance of communication. Keeping our clients updated on a regular basis is critical to a successful marketing campaign and something we do pride ourselves on. Warren, Phillipa & James commit to providing you with weekly written reports and we will also keep you updated by phone, text or email after each viewing or Open Home, so that you are fully aware at every stage, just how the marketing and promotion of your property is progressing.
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- Finally we get to reputation. Obviously, you not only need to appoint an agent that has sold property locally before but you also need to appoint an agent that has local knowledge and experience. They should be able regurgitate median prices, number of days to sale, auction success statistics and the highest sale prices in an area in the last month as an absolute minimum. How long they have been selling is also important? And what have they sold in the last six months? By this stage, you’ll already have a really good handle on the people you are interviewing and you’ll probably already know who you want to appoint. If you’re still not sure, do some ‘Googling’. Google who the best agent is in the location you’re in or Google their names followed by the term Reviews. Even try searching them up on Social media. You’ll be amazed by some of the things some agent post about themselves and it may also give you a better insight into how well suited they might be to represent your most prized asset.
Simple test: How does your prospective agent stand up when challenged with these questions?
- Finally we get to reputation. Obviously, you not only need to appoint an agent that has sold property locally before but you also need to appoint an agent that has local knowledge and experience. They should be able regurgitate median prices, number of days to sale, auction success statistics and the highest sale prices in an area in the last month as an absolute minimum. How long they have been selling is also important? And what have they sold in the last six months? By this stage, you’ll already have a really good handle on the people you are interviewing and you’ll probably already know who you want to appoint. If you’re still not sure, do some ‘Googling’. Google who the best agent is in the location you’re in or Google their names followed by the term Reviews. Even try searching them up on Social media. You’ll be amazed by some of the things some agent post about themselves and it may also give you a better insight into how well suited they might be to represent your most prized asset.
Now all there is left to do, is to give us a call and lets chat about how we can give you the outcome you want or contact us here