What You Should and Shouldn’t When Choosing A Real Estate Agent?
When it comes to selling your home, everyone will tell you that hiring the greatest real estate agent is the most critical step. Isn’t it simple?
Selling your home is likely to be one of the most significant financial transactions you’ll ever make, so choosing the right agent is critical. Which Real Estate Agent has always attempted to make the process of selecting an agent go here – you can use our comparison tool to choose agents, and we can provide you with information about the selling process.
We’ve put together this guide to help you choose the best agent for you by making sure you’re looking for the correct items and asking the right questions.
Where can I locate the best real estate agents?
So you’ve decided to put your house on the market, and now you need to locate a real estate agent, but there are so many companies and agents to choose from that you don’t know where to start. We understand how stressful it is! Here are some of our best suggestions for limiting the field:
1. Enlist some assistance
Which Real Estate Agent works with over 60,000 agents across Australia to find the right match for you. Our team will research the top-performing agents in your area and connect you with up to three of them.
When you utilize Which Real Estate Agent, you can chat with agents with confidence, knowing that our staff has analyzed recent sales data to locate agents with the most expertise in successfully selling similar properties. It’s quick and simple, and it relieves you of a lot of the initial tension! There is never any cost to you, and you are under no obligation to use it.
2. Consult your friends and relatives
If you know anyone in your area who has recently sold a home, ask them if they would recommend their agent.
Remember, what worked for them may not work for you, and if they sold a studio apartment, their real estate agent may not be the right person to sell your five-bedroom family house with a pool and yard.
3. Attend open houses.
Even if you aren’t seeking to buy in your neighborhood, attending open houses can give you an idea of how brokers operate. Are they conversational and open with prospective buyers, or are they more reserved? Do they have a good public image? Are they punctual for inspections and do they answer inquiries thoroughly? Are they well-versed in the property?
Most importantly, do you think you’d enjoy working with them? Selling a house is stressful enough as it is; there’s no need to add to the burden by having a strained relationship with your real estate agent. You may also observe what kind of follow-up the agent gives if you register your interest in the property.
4. Take a walk
Take a walk around your neighborhood and observe any for-sale signs. Who is the person selling the house? Is there a single agency that seems to have a monopoly in your area? If that’s the case, they’re worth a look.
If an agent appears to have a large portfolio of properties, it may appear that they are a solid bet, but keep in mind that they are only human and can only do so much. You want an agent who will put you first as much as possible – someone who is selling a lot of homes won’t be able to do that.
You don’t need to make any major judgments at this point; simply get a sense of what’s available. After you’ve narrowed down your options, you can talk to possible agents and acquire appraisals on your home from them.
We recommend speaking with at least two, if not three, agencies and having a three-person shortlist. It means you’re more likely to have a well-rounded view of your home, its prospects on the market, and a fair estimate of its worth. It also means you’re less likely to have to start the process over if you meet with one of them to discuss your property and needs and discover you’re not a good fit.
We’ll advise you what to look for while interviewing potential agents now that you’ve narrowed down your list of agents.
What will go place throughout the interview?
The listing presentation is the name for the interview with an agent. What different parties label it can reveal a lot about what it means to them. As a vendor, you’re interviewing someone who will sell your property on your behalf.
This is the sales pitch for the agent. They’ll almost certainly make money at the end of the process if they come out on top here.
Never feel compelled to sign anything right away. Real estate brokers are skilled salespeople, but in the end, this is a major decision for which you should take your time.
The most essential thing to remember here is that you can and should ask as many questions as you want. Yes, the agents will have questions for you (which we’ll go through later), but if you think of this as a job interview, you’ll be the boss.
You want an agent who will work tirelessly on your behalf to obtain the greatest possible price on the market. You’re more likely to get what you need if you go into interviews with this mindset.
You’ve already established the groundwork throughout the shortlisting process, so you’re confident that you’re chatting with the right folks. The next step is to schedule appointments with them to conduct appraisals and talk about how they plan to sell your home.
During this session, we’ll go over some of the most critical things to look out for and questions you should ask the agent.
First impressions are important.
First impressions are important, and your agent only has one chance to create a good one. This isn’t a deal-breaker, but it’s crucial that your agent understands the importance of first impressions — after all, they’ll be the one representing you at open houses.
Is your agent on time for the meeting?
Although we can’t always avoid traffic, being on time or even late for an appointment will make you feel as though your property isn’t a priority for the agent. It could also reveal how they handle open houses, something you don’t want to do if you don’t want to keep buyers waiting. Even though there’s nothing you can do about it, they’ll associate it with the property, which may make it more difficult to sell.
Is the agent dressed appropriately?
Although appearances aren’t everything, you want your agent to be well-dressed. You’ll go to great lengths to ensure that your home is well-presented for inspections, therefore it’s only right that the agent do the same. It’s all about projecting a professional image and establishing a positive first impression on prospective customers.
Inspection of the appraisal
An appraisal inspection will be performed by the agency. They’re looking for a variety of things. The number of bedrooms, bathrooms, and parking places are all important considerations. They’ll assess the general appearance of your home as well as its current state.
They’ll frequently concentrate on the kitchen because that’s where most buyers will look first. They’ll consider elements you can’t change, such as the property’s location and if it’s near a busy road or railway line.
A good agent will take their time looking over the property; a cursory glance will not enough. To make things easy for them, make sure your house is in good shape before they arrive. Remember that their value estimate will be based on what they see — if they don’t see it, it won’t be included.
What are some good questions to ask agents?
As we previously stated, think of this as a job interview in which you are hoping to hire the agent. Because they won’t have given you a CV, you’ll need to inquire about their experience as an agent, as well as their licensing and qualifications.
This is also a good time to get a better sense of your agent – are they talkative or quiet? Do they pay attention to you or do they frequently interrupt you? Do you think you’ll be able to work with them?
We’ve compiled a list of the most crucial questions you should ask your agent:
1. Have you been a real estate agent for a long time?
We understand that everyone has to start somewhere, but you’ll undoubtedly want experience when it comes to your property. This is especially true if you’re trying to sell a rare or valuable item.
However, just because someone is new to real estate doesn’t mean they should be eliminated from consideration. Perhaps they’ve transitioned from marketing or finance to real estate, giving them a unique perspective on selling your home.
2. Have you been working in this sector for a long time?
When it comes to selling a home, it’s just as important to sell the location as it is to sell the house itself.
Is the house suitable for young families due to the good schools in the area? Is your apartment ideal for commuting because it is close to public transportation? What are the local eateries and cafes like?
Because they recognize that they’re marketing that as well, a smart agent will know all of this and more.
3. Do you have a full real estate license?
To lawfully buy and sell real estate, real estate agents must be licensed in the state or territory where they work. Are they fully licensed or merely have a salesperson’s license, in which case they must do business under the supervision of a fully licensed agent?
We recommend using a fully licensed realtor to sell your house for peace of mind and to make the transaction go as smoothly as possible.
4. What would increase the value of my house?
The agent will have had time to conduct a comprehensive assessment of your home once you’ve sat down for the ‘interview’ portion of this process.
They should be able to give you suggestions on what may or may not appeal to potential buyers, as well as areas where your home may be lacking. It’s tempting to take offense at this, especially if you adore your home, but they should have a decent sense of what other homes in the region look like and how to improve yours.
5. How will my property be advertised?
Before seeing the house, any agent worth their salt should have considered this. The majority of marketing is now done online, and your agent should be able to inform you which sites will be used to sell your home.
Will there be mail drops? Do they have any suggestions for less traditional means, such as drone photography or virtual house tours? Any agent who appears a little befuddled at this point in the interview should be avoided.
This is one of the most critical aspects of their employment, and it should have been on their minds when you first approached them.
6. Could you provide me with any references?
You’d ask for references from previous jobs if you were a boss employing someone, right? When it comes to picking a real estate agent, it should be no different.
Examine their most recent comparable sales and ask if they’d be willing to provide the vendor information. You can contact them to learn more about how the agent was to work with in the long run. It should be a red flag if the agent is hesitant to provide references.
It’s possible that they’re only concerned about what other people might say about them, but it’s more probable that they’re concerned about what other people might say about them.
How much will it set you back?
The fees and commission structure of your agent are one of the most crucial topics to discuss with them. You may learn more about the averages for your postcode by visiting this page.
It’s crucial to keep in mind that spending less doesn’t always imply getting a better bargain. If you’ve negotiated a lesser commission with your agent, they’re less likely to be as driven to sell your home because they’re not making as much money.
You won’t receive the best bargain on your property if your agent isn’t as motivated as you are. Sure, paying a higher commission means paying more to the agent, but it may be worth it if you end up getting more money for your property.
Purplebricks, a hybrid real estate agency, may come up when you’re seeking for agents. They may appear enticing due to their modest fees, but keep in mind that you will be charged regardless of whether the property sells.
While it may appear to be less expensive at first glance, it may end up costing you significantly more than if you had used a typical real estate agent.
It’s critical to talk about what’s included. You’ll often have to pay for marketing in addition to the commission, so how much you invest into it is entirely up to you. This is highly dependant on your budget, as well as the location of your home and the state of the local market.
A property in a city suburb will require a different marketing strategy than one in a rural region, resulting in significant differences in marketing expenditures. This is another another reason why discussing the agent’s marketing approach with them during the preliminary interview is critical.
What will the agent inquire about?
It’s crucial to know what questions to ask potential agents, but what about the information they require? Individual agents will have various interview tactics and will require different information, but here are some fundamental questions that all agents should ask early in the process.
1. What are you trying to sell?
This will assist your agent in customizing their plans to meet your requirements. If you’re selling to relocate interstate for a new job, for example, you’ll require a different set of services and a different time frame than someone selling one of their investment homes.
2. Do you have a deadline for moving out?
This offers the agent a better idea of the time frame they’re dealing with and whether or not you can get what you want in that time limit.
3. Do you already own a home that you want to move into?
This could indicate how serious you are about selling the house, as well as how quickly you want or need to put it on the market. It may also provide an opportunity for your realtor to offer one of their other properties to you, especially if you want to stay in the same region.
4. How much do you believe your home is worth?
You may have done some research to determine the value of your home, or you may be absolutely unaware. The realtor wants to know what your expectations are and whether they’re reasonable in light of the condition of your home and market trends in the area.
5. Is there anything else I need to know about the house?
Is there anything about the property that could be a selling point or a liability that you didn’t notice during your inspection? You should be truthful here; trust between a vendor and a real estate agent is crucial. You should make it as simple as possible for them to do their job.
What is the definition of comparative market analysis (CMA)?
Before your appointment, your agent should have done some market research. It may appear to be a frightening term, but it is actually rather simple. Your agent will look at a few different factors to determine how much your home is worth and when you should put it on the market. We’ve compiled a list of them, as well as why they’re crucial to agents.
Listings in your neighborhood
Active listings are the agent’s major rivals, pending listings (listings under contract but not yet closed) will reveal market trends, and sold listings will supply your agent with crucial comparable sales data.
Data on comparable sales
Agents will look at similar houses in the area that have previously sold and are similar to yours. Location is significant, as are the size of the lot, the number of bedrooms and bathrooms, the age of the house, and how it looks, for example, have there been any recent renovations?
A smart agent will have all of this information, but more importantly, they should be able to explain what it all means to you and your property sale. Again, if anything doesn’t seem right or you don’t understand something, don’t be hesitant to ask questions.
Remember that real estate agents have access to a lot more data than the ordinary home owner and can provide you with a much more accurate analysis if you’ve done your own CMA and come up with some quite different statistics. It’s one of the reasons we always recommend getting a value estimate from an agent!
Don’ts and Dos
Do believe your instincts: if you meet an agent and anything about them doesn’t feel right, go with your intuition. They only have one chance to create a first impression, and you have every right to speak with other people if it’s not suitable for you.
Speak with several agents: comparing agents allows you to see what’s available. It also provides you some bargaining power when it comes to commissions and fees, but we don’t recommend doing so too early on.
Give yourself plenty of time: selling a home may be a whirlwind, especially if you reside in a high-demand area. This isn’t to say you shouldn’t look for an agent right now.
When you decide to sell your home, the first thing you should do is find an agent. You won’t rush the process and wind up not finding an agent who is a suitable fit if you give yourself enough time.
If you need assistance, seek it out: this is one of the most important decisions you’ll ever make, and it can be difficult, especially if you’re a first-time seller.
Which Real Estate Agent can assist you in identifying the best agents to interview, eliminating the lengthy shortlisting process and making one of the most difficult tasks you’ll ever undertake much easier!
Don’t choose based on who gives the highest value or the lowest commission: if a house is overpriced based on a poor valuation, it may never sell, and the longer it sits on the market, the more likely potential buyers will suspect something is wrong with it.
A lesser commission may indicate that the agent is less inclined to sell the property, lowering the amount you receive once it has been sold.
Don’t rely solely on recommendations: while it’s a good place to start by asking friends and family members who they’ve used in the past, this shouldn’t be the only factor you consider. It’s possible that what worked for them won’t work for you!
Don’t keep important information from your real estate agent: they need to be able to trust you just as much as you need to trust them.
If you withhold facts from them from the start, you are not only jeopardizing your prospects of selling the property, but you are also jeopardizing your relationship.
Don’t dispute with agents: It’s difficult not to become irritated if agents criticize an aspect of your property, especially one you adore, or offer you a substantially lower value estimate for your home than you expected.
If you’re tempted to dispute with them about it, keep in mind that they’re experts who do this on a daily basis. At the end of the day, you’re hiring them because they’re far more knowledgeable about the selling process than you are.