CHOOSING & WORKING WITH AN AGENT - ARTICLE 4 OF 9

Choosing the right agent is crucial if you want to get the highest price for your property with the least amount of stress.

Buyers have a choice – your home or someone else’s.

Your agent should be skilled, selling the positives of your property and, when necessary, selling the negatives of properties that are listed with other agents.

This does not mean your agent should mislead people. It means that your agent works for you and not for the other home sellers or their agents.

Your Reason

Be sure your reason for selling is confidential. No-one, other than the agent you trust, should know why you want to sell.

If the buyers know you have a pressing reason for selling, this could be used against you.

It is enough for buyers to know only that you want to sell. The reason is your business. Revealing it could weaken your position when you receive an offer.

The best agents will tell you how to give your property that special feeling that wins the hearts of buyers.

With the right agent, and with your property looking its best, you will always get the highest price.

The greatest problem facing home sellers is lack of information. Some people only sell a property once or twice in their lives. Even those who sell more often rarely have the experience or the information to know how to get the best price with the least risk.

Following are some things you should consider when selecting a real estate agent.  You will, it is hoped, notice that in none of these ways is it suggested that you select an agent based on who charges the lowest fee, or on who quotes the highest selling price to you...

This is the most dangerous ways to select a real estate agent.

Insist on a Guarantee

The best advice to any person thinking of selling a property is to insist on an iron-clad service guarantee – one that gives you the opportunity to terminate the agent’s services WITHOUT PENALTY if you are not receiving the service your agent promised you at the listing presentation

All agents will ask you to sign an agreement before you sell your property. But remember that you are being asked to sign their agreement. Many sellers bitterly regret signing that agreement with the agent.

The best agents will gladly GUARANTEE their services.

Avoid agents who do not offer a service guarantee.

Find an Agent you trust

If you don’t trust the agent, don’t hire the agent. A major ingredient in any relationship, business or personal is trust.

Before you choose your agent, ask many questions, check references, ask for a guarantee, test their negotiating skills and ask yourself a BIG question: Do I feel comfortable with this person handling the sale of (possibly) my greatest financial asset?

If your answer is “no”, do not hire the agent.

Once you decide on an agent, give the agent your trust and confidence. Do not interfere.

Allow the agent to make decisions and get on with the job finding the right buyer for your property.

If the agent later loses your trust, provided that you insisted he or she sign a guarantee, you can always dismiss the agent and find one you can trust.

The best agents are worthy of your trust. They won’t let you down.

INSPECTIONS & IMPROVEMENTS - ARTICLE 3 OF 9

During the Inspection

Although good agents like it if you meet prospective purchasers, they say that this reduces the risk of buyers making low offers – when the inspection gets underway it is best if you (and your dog) are not home.

Too many people in a property can make it look small – have you ever felt this at an open for inspection, when hoards of ‘lookers’ are squeezing past each other?

If you do stay home, do not remain in the most appealing room. Buyers will be conscious of their intrusion into your life; they rarely feel relaxed when you are in the same room.

Genuine buyers take their time to inspect a property, so give them plenty of time to savour the best rooms of the property.

If you trust the agent, let the agent stay with the buyers. And don’t expect the agent to point out all the obvious features.

Some of the best salespeople are silent when buyers are inspecting a home. The time for most questions is after the inspection, or if the buyers require a second or third inspection.

The Value of Major Improvements

If you spend enough money in making the property more attractive, you will usually make it easier to find a buyer.

But you need to find middle ground. It makes no sense if the cost of the improvement is too high – often it would be more cost effective to reduce your asking price. 

Most major improvements are personal and do not add the value you expect.  An example is a swimming pool.  If you pay $30,000 for a pool, the pool salesperson may tell you this increases the value of your property.  But if the buyers don‘t want a pool you will not get back what you paid.

Most improvements often return only half their cost upon sale.

You may have to wait years to find a buyer with the same personal taste as you.

If your property needs major renovation, it may be better to avoid the expense of renovation and instead select a lower asking price.

Many buyers want to renovate a property to suit their own taste.  While minor improvements can give you a great return on your selling price, major improvements are often a big mistake.

Either spend a little bit of money to sell your property or spend a lot of money to stay there.

Focus on Features

Your property’s features are its biggest selling point; price is secondary.  Sure, if there are two identical properties, then price becomes important. But most properties are unique and each has a special ‘feel’ that makes it more or less attractive than another property.

Even an apartment in a building of look-alikes can sell for a higher price if the owners give it that special touch.

This is why it is so important to focus on the features your property has to offer.  Why should someone buy it?  Make a list of these features and make sure your agent knows about them.

But no matter how good a property may be, as the seller you should steel yourself for some negative feedback. Selling a property can be a cruel process sometimes.

You may be told by buyers, via your agent, that the property is too small or too big or too old or too new, or that it needs too much work.

Buyers may point out negative features that you never considers, so it is vital that you give your agent ammunition to fight these negatives with a list of positives.

When people focus too much on the price of a property they tend to forget its features.  And this means you have to reduce the price or the buyers will choose a similar home at a cheaper price.

Almost all buyers make their decision based on the features of the property.  It could be something as simple as a tree on the front lawn.  Buyers buy properties they love first, and properties they can afford second.  Features are more important than price.  Focus on features.

Your Competition In The Market

Any market involves competition and your competition comes from two areas: similar properties to yours that are for sale, and from agents who compete with your agent.

The presentation of your property and the skill of the agent can mean thousands of dollars to you in the real estate market.

Your agent has to persuade buyers to inspect your property and to buy it in preference to other properties.

Now that you have your property presented in its finest light, it is now time to speak to real estate agents.