At the end of the day, you’re entrusting someone with the critical task of selling what is probably your biggest asset, so it’s essential that the professional you choose is proficient, understands every facet of the transaction and able to get the job done right - and in a timely fashion.
Many people still assume that there is little more to selling a home than planting a sale board in the lawn, placing a few online ads and hosting a show house, but this couldn’t be further from the truth.
Even the least complicated property sale is a complex transaction that entails months of work from start to finish. It also requires more than a passing knowledge of diverse fields such as finance, marketing and property law.
It’s also important for the agent to have a thorough knowledge of the market in your area in order to accurately evaluate your home because a realistic sale price is the starting point of all successful sales.
And, the truth of the matter is that, because property transactions involve so many steps along the way, necessitating multiple professionals and organisations and, very often, a strong emotional quotient, simple sales are rarer than one might think.
Due diligence
The commission you pay an agent is not merely for the sourcing of a buyer - you are paying for specialised resources and skills and should therefore take the necessary care and time to find one who is not only proficient but also right for you.
This is crucial because, not only are you likely to sell your home quicker and at the best possible sale price, your agent will also work alongside you and guide you along the way to make the process as seamless and stress-free as possible.
The first factor to consider is the agency. Although there are certainly exceptions, an established, recognisable brand is likely to have more experienced and skilled agents as well as a stronger national (or even international) reach.
It’s usually wiser to stick to brands you know and get recommendations from family and friends who’ve had success with an agency or agent
Once you have selected the agencies which are most active in your area, interview an agent from each and ask them for a valuation.
Don’t be afraid to ask questions about important factors such as the length of time they’ve been in the industry, their sales track record for the previous 12 months, their marketing plans and what they plan to bring to the table.
Don’t be blinded by high valuations
This is possibly the most critical step of the process because the initial marketed price not only determines the final sale price achieved but also the length of time a home spends on the market, which is especially important if the seller is buying another home subject to the sale of his current property.
And it’s important to realise that the highest valuation is not necessarily the best valuation and that your home should be priced correctly from the get-go.
We expect buyers to negotiate so it’s understandable for sellers to assume that it would be sensible to list their home at the highest price possible but that is usually the very worst thing to do.
Buyers will always look for good value for money and if your property is priced well above other similar homes in your area, they will usually opt for one marketed at a better price.
And, if your home spends too long on the market, potential buyers will begin to wonder what is wrong with it and you may well end up selling for less than you would have if it had been priced correctly from the start.
Other important factors to consider
You’ve established that your preferred agent has an impressive sales history in your area and you’re convinced that you’ll work well together but beyond good communication skills and social niceties are other critical factors, including effective negotiation skills.
1. A good negotiator:Has a clear understanding of both parties’ wants and needs; is able to remain flexible and has a number of alternatives, is able to foresee (counter)offers and is skilled at using the power of persuasion to encourage clients to respond to offers.
2. Certification: And ask to see proof of the agent's Fidelity Fund Certificate, issued by the Estate Agency Affairs Board.
3. Marketing:The most successful agents are those who know which marketing tools and channels yield the biggest return in terms of exposure and conversions. Today’s digital age affords us many more marketing opportunities than before and allows us to communicate to multiple audiences, across a variety of channels in many cost-effective ways and the agent should be familiar with them all.
There are a number of traits which good agents share and even though it’s probably not possible establish them simply by asking the agent, they are certainly worth looking out for:
1. Problem-solver mindset
2. Self-motivated entrepreneur
3. Honesty and integrity
4. Interest in houses and architecture
5. Attention to detail
6. A network of connections
7. Tenacity
There’s a great difference between the agent who lists a property and waits for the phone to ring and the professional who is qualified, experienced, confident, proactive, genuinely has your best interests at heart and is willing to fight in your corner come what may.
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