One of our team members called me this week chasing some advice on a property and a client he was working with.
He was hoping to list their home for sale but he had hit a hurdle. They’d met another agent at an open home and that agent had presented them with an ‘appraisal price’ that was completely over the top and a commission that seemed too good to be true. I’m sure you can see where this is headed. Appointing the right real estate agent can be hard. Especially if you don’t have a prior relationship.
But the two most attractive numbers to most owners, ‘appraised’ price and commission, are also the two worst numbers to choose an agent on. Any agent can just throw a huge price on the table and justify it with enthusiasm, but where are the facts? Commission is only paid when a property is sold and settled, so choosing the cheapest sounds counter intuitive too. You want to choose the agent who will get you the best price, not the agent with the lowest fee.
Ask questions about strategy, recent sales with buyers still looking, what their service program looks like and can they give you some past clients to talk too. We are talking about our biggest assets. Choosing the right person/ office to sell it is paramount to the result. Most people chose their agent on ‘likeability’ and that’s great, but the reality is that the longer a property sits on the market, more often the lower price they achieve. So you need to look a little further than skin deep.
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There are some significant changes coming to the way we sell property in Queensland. There is a new document – Sellers Disclosure – and it will be required to be provided from the seller to the buyer prior to signing a contract from August 1. New documents or changes to … Read more