How to select a realtor.
Our
goal is to help you to find the best real estate agent who will
be able to meet your needs.With the power of the internet we can
share information and help to make it easier for the average consumer
to find the right real estate agent.
Bigger decision when selling.
Selecting the right
real estate agent to work with is a lot bigger decision when you
are selling than when you are buying. Why? Most people buy based
on the property that they like, it is not a decision based around
who the agent is.
When you are selling
nearly everything in the transaction revolves around the real estate
agent you have appointed to handle the sale. So most of what I talk
about here relates to choosing the right real estate agent when
selling.
In U.S.A.the average
home seller will spend over $10,000 on real estate agents fees.Try
and imagine the last time you paid out that much money for a service
and think of what you got for your money.
Let me say if you
get a good real estate agent they are worth their fee and I believe
they will negotiate you a lot better selling price than you would
get without one but getting a good one, that's the challenge. I
support the real estate industry and particularly I support the
good agents.
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Your real estate
agent should be your partner when it comes to selling or buying.
When selling,
your agent helps you to set the selling price and decide how
the property should be sold,markets the property, promotes
it to their existing database, negotiates the best price and
when an offer is made, makes sure the sales process goes smoothly.
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With
all this at stake , it is a good idea to do a little homework into
your local agents before you make your choice.
Word of mouth referral !
When finding the best
real estate agent to sell your property you can't go past word of
mouth referrals, ask friends relatives etc spread the word you are
thinking of selling or buying and you will be surprised what comes
up.
If that doesn't work
I would recommend you approach any agent you may be considering
and test them from a buyers perspective. See how long it takes them
to return your phone calls but remember its important to identify
yourself as a potential buyer, not a seller. I am not asking you
to do anything dishonest, just ring up the real estate agent and
ask what they have on the market at the moment in a similar style
to your own property i.e. number of bedrooms suburb position etc.
This also is good information for you and will establish how active
an agent they are and what other homes are going to be competing
with your property.
All real estate agents
will chase after sellers, but do they chase the buyers as well?
That's what you need to know at this stage, when identifying your
$10,000 representative.
I know you
want to interview real estate agents at home to get to know them,
but do it first from a buyers perspective, you will get a lot more
accurate picture of how the agents work if you do it this way.
Please
read my general advice on selling tips for real estate click here.
We are going to build a list of real estate agents
with reviews from their past customers.If you are a real estate
agent and you would like to appear on this list and get your site
linked to our site so our visitors can see your properties for sale
and read past customer reviews of your service see
contact us page click here.
Choosing the best real estate agent.
Choosing the
right real estate agent to sell with I know can be a chore but I
have got to say I just love the real estate agents. Why because
these guys and gals are the ultimate salespeople if they are any
good you just can't beat having one on your side when you are selling
real estate. I guess the chore part of the process is trying to
figure out if they any good. What is the definition of a good agent?
many things, but here is a few points to consider when looking to
employ a real estate agent:
1.
Empathy
Your real estate agent
must be able to relate to what you are going through. Selling real
estate can be a stressful time mainly because of the financial issues
as I have already discussed, but it also can be an emotional time
leaving a property that has been the family home. Your real estate
agent needs to be able to appreciate this and be able to relate
to what you are going through. Please note empathy is a lot different
to sympathy; if your property hasn't sold you want your agent to
take charge and do what needs to be done not to feel sorry for you.
2.
Understand they are employed by the seller
I must admit that a
lot of agents seem to forget this major point. I think what happens
is they try so hard to look after their buyers that when negotiations
are going on they get a bit mixed up where their loyalties lie.
The bottom line is the real estate agents commission is deducted
from the seller's final price. The selling real estate agent is
employed by the seller to get them the best result possible agents
should never forget that this is their duty; they should be proud
of the work they do on behalf of the seller.
3.
Negotiating skills
Major point that really
defines a great real estate agent from an also ran. If the agent
you employ is a good negotiator, chances are the extra money you
get for your property will more than cover the real estate agents
fees. Many things make a good negotiator; you can see my page on
negotiating if you like, but for your agent if they are doing the
things mentioned here that would be a good start.
4.
Good time management skills
Time management skills
are essential when you are an real estate agent. This is one of
those skills that if your real estate agent can master, they will
be available to you as a seller when you need them, and they will
also be available to the buyers. The demands on the real estate
agent can be excessive, especially on weekends or show days so managing
your time is a must. This is a really good indicator of how competent
a person the real estate agent is, as their home life will also
suffer if they can't manage their time.
5.
Easily accessible
This is really a follow
on from time management and is also a confirmation with what I suggested
above. How quickly did they answer your initial enquiry will give
you some indication to how long you will be waiting to get answers
when you are on the market. You need your real estate agent or someone
from their office to address your enquiry promptly and efficiently.
A lot of the better real estate agents are now working with assistants,
so even though your agent may be with a client your enquiry is still
professionally dealt with.P.S. If you can't get hold of
your real estate agent imagine what your potential buyers must think
when they experience the same thing.
6.
Local knowledge
Local knowledge really
pays dividends when selecting a real estate agent; essentially all
any buyer who is going to live in the property is buying is a lifestyle
and your real estate agent needs to be able to sell lifestyle of
your area and property. The only way they can do that is by having
great local knowledge and a healthy belief in the lifestyle of your
neighborhood. I could also put forward a strong case that the agent
you choose should live reasonably close by.
I am a strong believer
that in most cases you should also list your property with a local
real estate agent (unless they are complete buffoons) as this is
the real estate person that will have the buyer enquiries for your
area. It annoys me when I see real estate agencies listing properties
for sale way outside of their geographic zone of their business
as they clearly would not be dealing with buyers for that area.As
realtors we have what is known as a service area i.e. an area we
service, make sure your agent stays in theirs.
7.
Likeable
Lastly but by no means
least of course, you have to genuinely like the person you choose
to be your real estate agent. You are going to be relying heavily
on this person to get an important job done and you need to like
them enough to enjoy talking to them everyday if necessary. Your
real estate agent needs to be perceived as likeable by the buyers
as well or else it is unlikely that they will open up and tell the
agent what it really is they want to buy, and when those all so
important negotiations start about how much the buyer will pay if
they like the real estate agent again they will probably pay more.
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