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Published on May 19th, 2014

Question of the week revisited – 24 June 2013 – Appointing an Agent

What do I need to consider then appointing an agent to sell my home? 

There are a number of things to consider when appointing an agent to sell your home. Each person will weigh the following factors differently; but everyone should consider the following when deciding who to trust to sell their home.

 

  1. Trustworthiness: It might sound simple, but do you trust the agent to put your interests first? This could manifest itself in a number of ways including:
    1. Protect your price: The agent is working for you and should be working hard to get you as close to the asking price as possible. You need to trust the agent to justify the asking price to prospective buyers, not lazily put lower figures in their head.
    2. Tell you the truth about the price: You also need to trust the agent to tell you the truth about the list price. If it is too high, you need to know ASAP. The list price’s only job is to get people through the door; if it is too high and people aren’t looking at your place you can’t sell it. See point (a) above though, the agent should only be having the too high a price conversation with you, not with buyers.
  2. Experience: Ask the agent to give examples of similar properties to yours that they have sold. What did they find worked from a marketing point of view with those properties? What did the buyer like about that property that we can use when marketing your property – what negative feedback did that vendor get that might apply to your place; can we do anything about those issues before buyers look at the property?
  3. Strategy: What strategy does the agent have apart from “throw it on the web and see what happens”? How long will the agent wait to change the advertising copy and photos? What sort of feedback do they try to get from people that view the property, or from the internet sites that will inform future decisions on price?

 

At the end of the day you need to be confident you can work with the agent to achieve the best possible price for your property. It will take team work, good communication and trust. Talk to your friends and work colleagues about their experiences both good and bad. Get more than one agent to do an appraisal of your property and take the time to interview them about the appraisal – treat it as a job interview; you are going to hire one agency to sell your biggest asset – time spent in deciding which agent to use can be very lucrative at the end of the day.

 

Disclaimer: All thoughts are my own; you should undertake your own professional advice (legal, financial or astrological) before undertaking to purchase property

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