One thing is for sure if you’re considering selling a property: you certainly have “choice” when it comes to selecting your estate agent. So that begs the question – just how do you go about selecting your agent?
Let’s start with identifying the outcome that you want. It’s usually the same for most sellers, but not always. Granted, a seller takes their property to market in order to sell it. So you’d need to be clear on whether you just want to sell your property – or if you want to sell it for the most the market will pay.
They’re not the same thing. Trust me.
Let’s assume you just want to sell your property. In other words, getting the most money isn’t the most important thing. Just sell it, and do it quickly. In reality, you could stick your own For Sale board outside with the wording “Any and all offers considered”. Or you could list it with multiple real estate agencies and see what happens.
In truth, when you list with multiple companies on a joint or open mandate basis – you really are saying to the agent and to the market “Just bring me an offer”. The agents will compete to sell your property – but not at the best price for you. They will push to get you to accept their offer, as if you don’t, then they don’t get paid.
For most sellers, just getting “any sale” isn’t good enough. For those who want the very best sale, their agent selection criteria are very different.
Common sense will tell you that, in order to get a buyer to make their very best offer, they will need to be in a position where they compete with other buyers for your property. The only way to achieve this is to price your property correctly, and then to market it so strongly that all suitable buyers are attracted to your listing.
This can only be done by executing a powerful marketing plan. So, in selecting your agent, find out what marketing plan will be implemented to ensure you attract all the suitable buyers out there. And get the plan in writing.
The next selection criterion is to understand what strategies the agency will employ to obtain you the best sale. Their strategies will reflect their experience, skills, and ability to get you the best result. Make sure you’re satisfied they have suitable strategies.
Next, consider their track record. Granted, track record isn’t everything – but it’s a really strong indication of how successful and skilled the estate agency is. If they can demonstrate a record of success and provide positive testimonials from other happy clients – then that’s a good indication you’re making a wise choice.
Lastly, you need to feel comfortable that the agent and the agency connect with you. You need to feel you can trust them, and that they are there to serve you. Select wisely. It makes a significant difference.
Principal, Harcourts Platinum