Whether you are buying or selling, picking the right real estate agent for you can make a world of difference. Make sure you are asking the right questions so you know the person you will be working with, through the sometimes difficult/stressful time of selling or buying your home.
Experience in real estate
Ask them how long they have worked in the industry, experience brings knowledge therefore those with experience are more likely to be on top of everything and get the important things correct. They will also have a great knowledge of the market. However just because they are experienced does not mean they are the best, talent and knowledge mean nothing without hard work and dedication.
The team?
Ask them about the team they work with, as sometimes you may not be dealing with just the one agent. Many agencies you will find work in a team and throughout the process, there may be different roles allocated to each team member. Get to know the team so you know who will be dealing with what part of the sale process.
Previous sales
You can either do some research yourself or ask the agent to show you their recent sales, ideally the recent sales will have similarities to your property and be close by. By doing this you are not only seeing the number of properties they have sold, but it can give you an idea of the kind of buyer database they have and if they have the skills to market your property.
Comparable sales
Ask to see properties that the agent thinks are comparable to yours to get an idea of how the market is going and what prices properties are selling for. This will also give you a ballpark indication of what your property could sell for.
Reviews & Testimonials
A reliable & trustworthy real estate agent will have happy clients. A good way to see other people’s experiences is to ask to see the agents reviews and testimonials, you can also do this by checking their Rate My Agent profile as well as the company’s google reviews.
What can I do to improve the value of my home?
Asking this question is a good way to see how much effort an agent will put in, if they are more than happy to give you recommendations to improve your home and its value without over capitalising that shows they are there to benefit you. For example, recommending minor repairs, renovations and passing on trade contacts that they know are reliable.
How will you advertise my property?
You want to find an agent that markets on all platforms at the best quality, including professional photography, online listings, physical signboards, eMarketing (emails and SMS’s) to prospective buyers and social media. Using all these platforms gives you the best opportunity to attain the best possible price and to get your property in front of other properties that are also on the market.
Advertised prices vs sale prices
Asking an agent what the original advertising price was vs the sale price can say a lot, as there may be a lot of agents who jump on board with what you are hoping to get for the property (although they don’t believe the home is worth that much) just to get the listing. The property then sits on the market and moves to the bottom of the listings, and you will end up having to do many price reductions to get any interest. Pricing right from the beginning will bring the most interest and get your property sold the fastest.
What do you think my asking price should be?
Asking the agent what they think the asking price should be is a necessary, as they will have knowledge of the market and local area. You can relate back to the comparable sales as spoken about above to see if you agree with their recommended asking price.
What should I expect during the selling process?
Your agent should be able to explain to you the whole process from the appraisal, to going on market, to signing of contracts to settlement. Each agent’s process is different therefore asking how they go through each step is important to find out!
Commission
You should chat to the agent about their commission fees, to get an idea of what they usually charge. Commissions are not normally set in stone and can be negotiated with the agent.
Marketing fees
Make sure you are aware of the costs of the marketing before any photos, floorplans, videos etc are booked in to ensure you are not signing yourself up for something you cannot afford. Ask if the agency has different options for payment of advertising such as offering a discount for early payment or a pay once sold option if you don’t have the money to pay upfront etc.
Additional costs to include in budget?
There are many things to consider when selling your property, additional costs could be things such as home styling, pre-sale gardening and tidy up or urgent repairs etc. You will also need to budget for a conveyancer or solicitor as they need to prepare a section 32 to sell your property and will deal with all the disbursements to do with the signed contracts of sale.
There are many things to consider when selling your home, as it can be a stressful time. Therefore, making sure you find the real estate agent that is right for you should make the whole process smooth and stress free as possible.
If you are thinking of selling or interested in finding out the value of your property, give Ranges First National a call on 9754 6111 for more information or to arrange a free no obligation appraisal!
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