One of the big considerations for a property seller is that of which agent to select, and what the selling fees will be. Sellers are able to choose from a host of different agents and different fee structures. Just how do you choose the one that costs you less?
As with everything in life, not all estate agents or offerings are created equal. So it’s extremely important to do your research before committing to an agency.
The critical question is this: which estate agency will put more money in your pocket once your property is sold and transferred?
Notice that the question isn’t who has the lowest fee. It’s who put’s more money in your pocket. In order to do that, an estate agency needs to demonstrate how they will achieve you a better price that justifies their fee. Once you have deducted the agency costs then you need to be left with more money than if you had selected another agent.
There is a reason why people don’t buy the cheapest product if they can help it. In almost all cases, a cheap product represents bad value as it doesn’t last as long or doesn’t offer the same benefits and features as a better quality product.
It would be foolish to conclude that the agency with the lowest percentage commission will offer you the best value. So don’t fall into that trap!
The strategy of selling for the most money, in simple terms, is as follows: Engage the agency with the best marketing plan to attract the best and the most buyers in the marketplace to your property. A skilled agency then places these buyers in a position where they need to compete for your property. Under the condition of “competition” a buyer will make their highest offer. Period.
It comes down to the ability of the agency to market your home, attract the best buyer enquiry, and use their skills to get the buyers to compete and make their very best offer. Unfortunately that costs the agency money. It’s for that very reason the agency whom achieves you the highest price in the market won’t have the lowest commission rate.
But what they will be able to demonstrate to you is the strength of their comprehensive marketing plan, and their ability to get the buyers to compete to make you their best offer. An agency that has this ability will achieve you the highest price the market will pay.
An agency with a low percentage fee, weak marketing, and that lacks the ability to create buyer competition will not get you full market value. They may have a lower fee, but you put less money in your pocket.
This is even more true in a tighter market, such as the one we’re currently in. So select your agent wisely, not on their percentage fee, but their ability to give you more money in your pocket after the fees are paid.