Whether you are selling your once upon a time forever home, an investment property or your family home you grew up in finding and choosing the right real estate agent to act on your behalf is a decision that can play a big part in the end result. It will work in your favour if you do some homework and ask the right questions during your selection process. A real estate agent can make the world of difference when it comes to selling your property such as the final price you get, how quickly the property sold from time on the market and ultimately how smoothly the process is.
Making your selection?
A good way to start your selection process is to talk to family and friends to see if anyone has any referrals they are happy to pass on as this will give you a good picture about what type of experience you will be up for and some basics on what to expect. It is important to ask the referrers about some of the good points about the particular real. Generally families and friendship groups will utilise the services of a particular firm or in most cases a particular property manager individual as they all found a great experience was had without any headaches.
Once you have a shortlist of real estate agents it is important that you then try to do some of your own research to see if the chosen real estate agent has knowledge of the local area you are looking to sell within. Prior to meeting with a real estate agent you can look on the realestate.com.au website for agents in your local area, click here to search the find an agent feature.
By researching online at realestate.com.au or domain.com.au this will give you some sort of idea as to what your property may have the ability to sell for so when you eventually have a meeting with a real estate agent you will be able to see if they are familiar with the area. If the information they propose is highly inflated it is likely that your property will remain on the rental market for a lengthy period of time so it would be good to ask them to provide evidence to back up their findings.
It is important that you organise a time to meet up with your shortlisted real estate agents as you will be able to see for yourself how the particular agency and the individual come across and in most cases once you have had a meeting you will be able to get a good feeling within yourself which option is the correct one for you.
What is the plan of attack?
The right real estate agent to do the job will be the one who best understands the area in which you are selling your property and have an understanding about the potential people who will be looking to buy. With this in mind they will be able to accurately assess the value of your property given the current market and make sure it is priced appropriately to make it appealing to potential buyers.
Cost is to be considered
While cost is a factor to consider if you talk to someone who is offering a very cheap rate for their service compared to the fees of others, you will need to sit back and think why they are only charging a low amount. In many cases you will find as with most things in life that you do get what you pay for and if someone is happily charging half the price to do a job where someone is doing the same amount for double you will need to think about the greater term and the final outcome and will you benefit. Don’t hesitate to ask about their fee structure and what exactly you will be required to pay upon settlement taking place.
Some questions you can ask when meeting with a real estate agent for the first time:
- What experience do you have as a real estate agent?
- How familiar are you with the specific area?
- How many properties do you have listed in the area or surrounding suburbs?
- How do you plan to market this property, which strategy do you suggest?
- What forms of advertising packages do you offer?
- Do you utilise a professional photographer for the advertisement photos?
- When is the best time to start the marketing process?
- What is the average time a property is on the market for?
- How long should the property be on the market for?
- How are enquiries handled?
- What happens if there is a lack of interest in the property?
- What happens once an offer is accepted and a deal is made?
- What role do you play once the contract is signed and through to settlement?
Time to decide
Once you have made your decision on the chosen real estate agent and you have notified the chosen individual you are happy to proceed forward with their services a written agreement will be drawn up which yourself and the real estate agent will both have to sign after you have read through the agreement and acknowledged the terms and conditions. The agreement will cover off on the estimate of the total fees, charges and any expenses that will be charged and outline what you can expect to pay upon the sale of your property.
It is important to employ the services of professionals from the desired fields to ensure the smoothest path is achieved for the desired process. If you need recommendations for a real estate agent or other professional or have a question regarding anything spoken about in this article please don’t hesitate to get in touch with Gerry today.