How do you choose a real estate agent to sell your home?

So you have decided to sell your home. What now? Time to choose a real estate agent, but where to start? This is a very important step as with any other major life decision.

There’s a lot riding on the sale of your home or investment property. A good real estate agent can help you secure the highest possible sale price in a short timeframe. At the other end of the scale, signing up for a less competent agent could see your property languish on the market only to achieve a disappointing sale result.

So how do you find a good agent?
One of the best ways to track down a competent agent is through personal recommendation. Nonetheless it still pays to have three or four local agents appraise your property.
Do note, it’s worth focusing on agents based in your area. The internet has opened up home sales to a wide market but you need an agent with local knowledge who can be there at a moment’s notice if a prospective buyer wants to inspect the property.

Don’t be blindsided by the highest quote
In the process of receiving several quotes, it’s likely you’ll receive a variety of market values for your property.
While you want to achieve the highest possible sales price, an agent may be tempted to high-ball a quote to secure a listing. The risk is that this could mean your home is listed for sale at an inflated price, potentially turning buyers away in droves.
If in doubt, ask an agent why they are suggesting a particular listing price. Any real estate agent worth their salt should be able to justify their appraisal with reference to sales results for similar properties in your area.

Marketing costs
Each agent will have a different approach to marketing your home and that can mean facing a variety of possible costs. Be sure to clarify which marketing expenses will be worn by the agent, and which costs you are expected to pay for. It can make a big difference to your bottom line.

Commission – is it negotiable?
In some states, an agent’s selling commission is pegged by government legislation. But in many areas, you are free to negotiate commission.
Remember, it may only be worth paying a high rate of commission to an agent with a solid track record of sales success. Take a look around the local area to see which agent’s signs have the ‘Sold’ sticker on them. This is a quick way to know which agents are notching up sales - and which are not.
When you’re ready to upgrade to your next home we can help you choose the loan that is right for your needs.

Contact either Owun, Suzanne or Costa on 02 9517 1818 or newtown1@mortgagechoice.com.au to discuss your options. Or, if you feel like dropping in at our office, we are located at Suite 106, Flourmill Studios, 3 Gladstone Street, Newtown 2042. Be sure to share our blog on Facebook and Twitter and let others join the conversation!

Posted in: Tips

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