With the market beginning to rebound, this is a vital time for sellers to form a strong relationship with their agents.
If you’re thinking of putting your apartment or house on the market, you should not under-estimate the role of a great agent to give you confidence throughout the sales process, and to maximise the value of your property.
With the market now in positive territory for the past two months – up 0.4% in March compared with February – this is a great time to test buyer interest.
You should ask friends and family for recommendations of agents, and then interview a shortlist of three.
Word-of-mouth recommendations are highly valuable, but you must satisfy yourself that you’re choosing an agent you can work with.
They should have a great track record, strong local knowledge and excellent communications skills.
In any interview, ask about their approach to marketing your home – as opposed to anyone else’s – and their strategy for effective negotiation. Ask them to recount some of their experiences.
Understanding their strategy when a home is passed in at auction should be especially revealing. Auction clearance rates are around 70% currently, so this is an important part of your conversation.
Here’s what you should expect from an agent –
Total commitment – This should be evident from the start of your search. Good agents will text or email to confirm their appointment with you. Many will send relevant information before the meeting.
Personalised presentation – Beware of the agent who rolls out a templated set of slides. Avoid those with a “one-size fits all” approach. You want to see evidence of contemporary, local knowledge.
Expect a real plan – While every sales campaign will be tweaked to suit the needs of the seller, you should receive an outline of their approach and how they would use various marketing approaches, such as photography and video, and posting on portals and social media platforms.
Your motivation – It’s important for the agent to understand your approach. This is the essence of good communication. Agents who keep saying “vendor” (industry speak for seller) sometimes miss the mark with those unfamiliar in industry jargon.
The right questions – Candidates should ask relevant questions concisely, and then truly listen to your answers. Their inquisitiveness will be an indication of genuine care and commitment to the success of your sale.
Talk money – Inevitably, conversation will hit on the value of your property. You want an agent who will discuss this frankly, and cite recent sales as evidence to support their assessment. Some agents will quote a high figure to win your business. So, have your radar alert for what is realistic rather than what you’d like to hear.
Next step – Each meeting should finish with a clear course of action. Each candidate should clarify the next step, as this is how you’d expect them to behave with a prospective buyer.