Posted on July 10, 2015
A successful sale can be influenced by many factors – the state of the market, the type of property and the season you choose to sell in. But perhaps the most important part of the property puzzle is the agent entrusted to facilitate the sale.
A good agent can work wonders and a bad agent will make you regret your decision to sell.
But with so many realtors promising the world – how do you figure out who you can trust and who is a bust?
Find out what to look for when choosing a real estate agent.
Track Record: Sales History
Ask the agent to provide a detailed history of their recent sales. Be sure to specify that you’d like proof of sales they have personally handled – as opposed to the deals carried out by their agency.
Once you’ve had a chance to scan through their track record, you can also organise a pre-sale meeting. It’s also worth asking the agent if they have sold any comparable properties recently. That way you can gauge prices and how the agent handled the transaction.
Buyer Database: The bigger, the better
You know those (semi) annoying pamphlets that turn up in your mail every so often asking if you’re looking to sell or buy a property? Well as it turns out, they serve a purpose.
Every real estate agency has a database of buyers that they’ve compiled. These are people who have flagged interest in purchasing property. Before you engage a realtor, discuss the size, currency and scope of their buyer database. Also enquire about the number of ‘hot buyers’ on their books. These are people who are looking to buy immediately. If your potential agent has multiple hot buyers then your sale could be over sooner rather than later!
Looking local: They’ve got to know the area
What’s the golden rule of property? Location, location, location. A good agent knows their local selling area inside out. They should be able to offer you information on selling trends, tips on how to make your property more appealing to buyers in the area while also offering intimate local knowledge. Employing an agent that has worked in the community for an extended time is a great way to ensure you get top dollar in your sale.
Good communicator: Make sure the agent is a people person
Communication is key when it comes to selling and buying property, so you really want to be confident that your agent can be open and honest. It’s also worth agreeing on how much communication will be necessary for the duration of the sale. A clingy real estate agent can be suffocating – no one wants to be harassed by their realtor. Conversely, an agent who you can never get a hold of quickly becomes frustrating. Look for a good balance – someone who you can trust to get the job done independently but is also available when you need to chat.
Proof of a plan: Working out how they’ll work for you
They say that failing to plan is planning to fail and that’s certainly true when it comes to selling property. Discuss the agent’s strategy – what style of marketing will they be using, how do they plan to reach buyers and what price range will they be pitching for. It’s essential you get a feel for how they plan to execute the sale. If it’s clear they haven’t got a plan tailored to your individual property then don’t engage the realtor.
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