Research to help Choose the right Real Estate Agent
Choosing the right real estate requires a little research, once you follow the basic tips you will be well on your way.
Start with a little research, and an honest appraisal of your own property.
Finding a price
You will need to find out what similar properties in the area have sold for. A little online research will help with that. What you are trying to do here its form your own opinion as to what your property is worth.
See who is selling what in your area.
A little drive around will quickly give you an idea of who the major agents in your area are. Consider going to a few auctions, or open for inspections to get a feel of what different agents are like.
One of the classic ploys that agents use to get you to sign up is over quoting, they say they can get a great price, get you to sign up, and then as the campaign progresses come back with reports that say, interest in your property is lower than expected. so you need to drop your price.
Another ploy when choosing a real estate agent is for them to tell you that they have a bigger data base than other agents. The data bases simply come from people who have been through properties, very agent has a similar data base.
And the spell, we have ways of getting higher prices than other agents. If they can explain that in a logical way good luck.
Stay away from relatives who are Real Estate Agents, stay away from friends and ‘Mates’ using such people can ruin a relationship.
Prepare your shortlist of agents
Yes you need to interview them. And you will need a list of questions.
- The first thing you will want to know is how much the agents thinks your property is worth. And the agent will probably ask you what price you are thinking about.
- At this stage, keep your price to yourself and let them tell you what they think.
- When they do, you need to ask them for evidence, similar properties sold in the area and the price.
- If they are quoting a price much higher than you expected, take extra time to find out why.
- You will also need to know the selling costs.
Agents commission. – This is usually negotiable.
legal costs etc
- Agents may suggest that you do a few things to your property before sale, work out these costs as well.
- Method of sale Auction or Private sale and why they suggest one or the other.
- How they report back to you after inspections and how often.
- You need a written proposal from each agent, detailing everything, including how long you are signing with them and what happens if your property does not sell.