The importance of selecting a smart agent

Agent selection is a key factor in making smart selling decisions. Your agent will decide – or at least guide – price, method of sale, use of advertising media and marketing. Hiring the right agent to sell your property is crucial. Hiring the wrong agent costs a lot more than just their selling fee.

Take great care when deciding which agent to trust.

Trust is the key to many relationships, and it is certainly the key to hiring the right agent.

Example:

Oscar is a real estate agent in the Ipswich region on the outskirts of Brisbane. Recently he received a call from a Western Australian train driver, George. On the advice of his financial adviser, George had bought an investment property in the Ipswich region four years earlier and it had been costing him money ever since.

During the initial discussion, Oscar checked the property online and indicated an approximate sale price of $380 000. George was shattered as he had paid $520 000. However, he wanted out and asked Oscar to check the property and confirm the price, saying he would put it to market for whatever price Oscar recommended. Upon inspection, the property was substantially better than Oscar’s online search indicated and therefore he recommended listing the property in the $400 000’s, rather than the $380 000 George would have accepted.

Example:

A property was recently sold in Thirroul, NSW. The owners employed an agent with good negotiation credentials who appeared professional. He presented well, was on time and was well prepared.

Although the property was one that many agents would auction publicly, the agent recommended a private sale. He preferred a competitive method of sale that allowed him to keep each offer private to maximise the price for the seller.

The first buyer offered a maximum price of $1 000 600. The second offer and final sale price was $1 400 000. If the agent had chosen to sell at public auction, the bidder who made the second offer would have heard the first offer, bid a slightly higher amount and purchased the property for a bit more than $1 000 600 offered by the first bidder. However, because neither price was revealed to the other party, both buyers offered their maximum. The second offer was a whopping difference of more than $400 000 for the seller.

An owner’s choice of agent is the biggest decision they will make during a sale and as you can see, choosing a smart agent can lead to a smart sale.