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The Experts

Top tips for selecting a real estate agent

Charles Tarbey
Tuesday, June 26, 2018

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As expected, the housing market continues to weaken moving deeper into Winter with dwelling values falling 0.1 per cent in May. This decline was largely fuelled by softening conditions in Sydney and Melbourne where the majority of Australia’s housing value resides.

Hobart and regional areas continue to buck the trend, with Hobart up 3.7% for the quarter and regional areas up 1 per cent.  Also, Brisbane recorded a 0.2% increase in values in May and Adelaide a strong 0.5% increase.

With such a mixed bag of conditions, it’s understandable that many Australians may be confused as to whether or not now is a good time to sell. Those that are planning on selling this winter are probably trying to find the right agent to sell their property.

The right agent can be the difference between a lacklustre result and a fabulous one. The right agent can mean a hassle free sale compared to a stressful sale. Put frankly, selecting the right agent can often be the best decision one makes when selling their property.

Having known and worked with thousands of agents over four decades in real estate, here are three top tips to help you find a top real estate agent:

Performance vs Activity

Often, people will select a real estate agent because they see lots of ‘For Sale’ signs from the agent in their local area.

Instead of reviewing 'For Sale' signs look for the agent with the highest number of ‘SOLD’ signs. Focus on performance not activity.

Commission Rates

Many people select an agent because they are willing to reduce their commission or they have a low commission rate to begin with.

My view is that if an agent can’t negotiate with you to preserve their commission rate, it’s unlikely that they will be the best negotiator when it comes to getting the best price for your property.

I would carefully assess an agent’s negotiation, people and presentation skills during any listing presentation as this will be a window into how your property sale is managed.

Also, agents that have the lowest commission rate in a given market may have so because they are struggling to list and sell property. Keep in mind the old saying that – price is what you pay and value is what you get.

Research, Research, Research

Unlike days past, vendors now have a raft of agent related information online and at their fingertips.

Vendors should look to research agents and pay close attention to data such as: days on market, commission rates, number of successful sales, sale prices etc.

This information often paints a very clear picture as to which are the top agents in any given market. This in turn will help you narrow down your shortlist.

Agent section is critical to a successful property sale. I strongly believe that the more research you do into local agents, the better your chances of finding the right agent for your needs.

While research can be time consuming and complex at times, keep in mind how delighted you may be if you achieve a sale price beyond your wildest dreams.

 

 

 

 

Published: Tuesday, June 26, 2018


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