Compare Real Estate Agents – It is worth the effort
Let’s face it, the Australian property market is very well supplied with real estate agents. This is not difficult to understand when you consider the substantial fees and commissions earned by agents for the sale of your house. A surprisingly high percentage of owners do not make any real attempt to compare one real estate agent to the next. They usually choose an agent they know or is referred by a friend, or just look on a local sold sign as an example of a successful agent.
This is hardly an objective or scientific way to decide to appoint a person that is being paid a great deal to sell perhaps your most important asset. To be honest , comparing real estate agents is about being prepared and informed. This starts with actually having a pretty good idea what your property is worth , you can get this information on this website by entering your details here: http://homevaluationguide.net.au/real-estate-agent-fees-and-commissions/
What is the old scout’s moto “be prepared”. Once you have a good idea of the approximate valuation of your property and what the price of comparable properties for sale in your area are, with similar features , then you are well enough informed to make a meaningful assessment and compare real estate agents with the knowledge that you are not going to just taking their word for what your home could sell for X or Y and how long that would take. You will be informed, and that is a crucial step in the process of comparing one real estate agent to the next. Knowledge is power as they say.
How to Compare Real Estate Agents – 7 ways to judge
1. Real Estate Agent Referrals from past clients are important
Many real estate agents measure their success on the number of past sales rather than the how the client judges the success of the selling process. Referrals from people that an agent has worked for in the past, and are happy with the whole experience is very important. If possible, ask an agent to give you at least three names of past clients which you can then follow up. Call them and find out more in formation regarding their experience with the agent. Don’t just ask for any three clients but insist on an agent’s last three clients. This way, you get a more representative sample of past customers of an agent as well as their satisfaction levels. It is hard to compare a real estate agents past sales unless you have current information.
2. Analyse and compare the agents Sales Data from properties recently sold
Hard facts and figures about an agent are very important when you are comparing real estate sales skills. An agent boasting of high priced sales is obviously the more attractive one, as they give you hope of having your house sold at a higher price. However, facts and figures alone don’t give a complete picture. It could be that the property sold for a high price because of recent renovations for instance. When taken into account the owner may not have been any more in front. Therefore, other than scrutinizing the raw sales data when comparing agents , also ask the questions below:
- What is the number of sales that the agent has completed in the last 6 months?
- What we’re the starting prices of the houses compared to final prices? This helps you gauge the negotiating skills of an agent.
- What was the average listing time of the past sales during these past six months?
Also, ask the agents being compared for an informal appraisal of your property. You will see that this figure varies a lot among agents. You have the benefit of having got a free valuation guide from http://homevaluationguide.net.au/ and will be much better informed about what the likely valuation really is.
However, you will need to be careful about overly inflated figures. The agent may be doing it just to get your business. Make sure that the agent uses a comparative market analysis before they arrive at a figure.
3. Real Estate Agent Availability and Time Commitment
You also need to compare real estate agents based on their availability. This means how much time they are prepared to devote to the sale of your property .While an agent who does not have many clients or listings may be lacking in experience, an overwhelmed agent is unlikely to have the time or attention to put into your sale. When comparing availability, take the following things into consideration:
- Is the agent in question a part-time or a full-time agent?
- What is the number of listings that they currently have?
- How does the agent designate their time?
Through these questions, you will be able to gage the amount of energy and time an agent has in actively marketing, displaying and negotiating your home for sale with buyers.
4. Compare Real Estate Agent Commission and Fees – This is important
The next way to compare real estate agents is to look at just what they are charging in commissions to sell your home. Most sellers put a lot of weight on the commission that an agent charges. Get the agent to be very clear and specific about what the percentage of commission is and how they will earn it. Look , it is important to note that agents say a low commission does not necessarily indicate the same high level of service. It is subjective but it seems real estate agents are often less motivated by the percentage of the commission but just earning a commission. They will say that an agent charges low fees because they are inexperienced. It’s very important that you ask for a complete breakdown of fees you are expected to pay, and this includes auctioneer fees, advertising fees as well as other related costs.
5. Real Estate Agents Experience and knowledge
Although the fee charged by agents is a very important factor when you compare real estate agents, it is not the only one to consider. You also need to take agents’ experience into account when comparing them. The following are the aspects of experience that you need to pay attention to:
- How long has the agent been in the real estate business ?
- For how long has the agent been working in your particular area ?
- Has the agent recently sold a property similar to yours?
6. Look at the Agents Property Marketing Strategy
Different agents tend to have different strategies for marketing. You need to ask an agent to show you examples of the marketing strategies or proposals that they use. In this current multimedia society, the best strategies often incorporate a whole range of media. Compare the agents strategies which may include print-based advertising, online advertising and also an access to a database of current home buyers, this is crucial when you need to compare the overall offering of each of the real estate agents vying for your business,
You need to pay attention to the way an agent advertises their own services, since this can be indicative of how the agent will handle your own property. The marketing strategy that an agent employs also shows you where they put most of their money and time.
7. Legal Contract of sale documents
At this stage, you are almost close to getting a good agent. You are fast approaching the stage where you will need to draw up a legal contract of sale document between you and the agent you you have chosen. This is why it is important to understand whatever you are getting into legally. Know what the real estate listing agreement is. You also need to know the kind of recourse that you will have should you feel unhappy with the services of your agent
Choosing a real estate agent to sell your house is not as easy as picking the first one that contacts you. There are a lot of factors that you need to take into account when comparing an agent like their focus on detail , sales data and experience among other things. In the end however, you also need to trust your gut instincts. If you feel you are uncomfortable, don’t hire the agent.
The simple thing to do in order to get started in comparing the top real estate agents in Australia is to obtain a FREE property report here: http://homevaluationguide.net.au/ . This is a free comparison service that will put you in direct contact with the best agent in your local area. This allows you to save time from contacting various agents when you are looking to sell your property.
Home Valuation guide have reviewed and assessed may agents in most suburbs in Australia.
If you are looking to list your property for sale in your suburb or region you can easily Compare real estate agents in the following areas: Adelaide, Ballarat , Bendigo, Brisbane , Cairns, Canberra , Central Coast , Darwin , Geelong, Gold Coast , Hobart, Launceston, Newcastle, Melbourne, Perth, Sunshine Coast, Sydney, Townsville, Toowoomba, Wollongong.