Real estate agent alert
Selecting the right real estate agent to represent you in the sale of your property can be difficult. While the ultimate goal is to get the best possible price, you need to find an agent who will accommodate your needs and ensure the sale goes ahead with as little stress and anxiety as possible. But how do you choose one agent from the enormous number on offer?
The options
1.Check the signboards advertising properties for sale in your area. Take note of the company and the salesperson selling the property.
2.Attend property inspections and note the service you receive as a potential purchaser from the salesperson.
3.Look through the real estate section of local newspapers. Which agencies dominate the advertisements? Which advertisements catch your eye?
4.Talk to people who’ve sold property recently and ask about experiences they have had with various agencies.
Choose two or three agents to visit your property. Don’t interview too many, as it will make your decision difficult. When you meet the agents, assess their presentation, professionalism, character and enthusiasm. Prepare a list of questions, covering everything from how much commission they charge to what advantages they offer over other agents. The agents may not be able to supply you with answers to all the questions on the spot, but they should get back to you within a day. After interviewing the agents, gather the documentation they have provided and your notes. Make a comprehensive list of the advantages and disadvantages that each offers.
Beware off:
1 Agents who overvalue the property.
Some will suggest an inflated market price to win your business. Remember, it is the purchasers who decide how much your property is really worth. Ask for a written list of selling prices of comparable homes to support their opinion of the value.
2 Agency agreements that extend for lengthy periods of time.
Do not sign a selling agreement that ties you to an agent for more than 60 days.
3 Agents who pressure you into signing an agency agreement on the spot.
Signing one to two days later will make little difference to their business, but allows you time to weigh your options.
4 Agents offering very low or high commission rates.
Basically, you get what you pay for. If an agent can offer clear advantages over others, expect to pay a little extra for superior service. Employing a better agent often will result in a higher selling price which should cover the extra commission payable. At the other end of the scale, make sure you are not paying a commission well above the average rates charged by agents in your area.
5 Hidden costs.
Ensure the agents supply you with a written submission outlining how they propose to market your property, the expected time frame and, most importantly, all the costs involved. Besides the selling fee, additional costs may include marketing and advertising costs, administration charges and auction fees. Remember, great real estate service is out there - demand it!
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