Choosing the right agent is the most important step when you decide to sell your property. The selling process can be tough, if you go through the whole process alone, especially when you don’t have any idea about selling. At that time, agents will help you in making this process simple. Considering the following points will help you choose an agent who can sell your property quickly and at best possible selling price.
1. Check agents sales history
The history of the estate agent includes how many properties are sold by the estate agent and how quickly the property is sold. You can also ask about the types of property he sold, so you can compare your property with the agent’s selling history.
If in recent times, the agent has sold a property similar to yours then you will get the advantage of the active buyers in their database. It means there are high chances that your property will be sold in a short time period. Compare your agent and agency sales history with respect to their marketing fees, commission rates, and reviews by their clients.
2. Marketing strategy of agent.
Marketing strategy plays an important part in selling property. When it comes to marketing by agent, you need to check how good the property will be represented by the agent. A good estate agent will use a mix of digital and traditional marketing strategies to attract more buyers. We can also check that he is using any of the following mentioned points while advertising the property.
- Listing your property on the website of the agency.
- Advertising your property in local newspapers or magazines.
- Photography of the property
Some estate agents advertise your property on social media platforms or using the latest technologies along with creating a virtual tour of property. Agents have a clear idea of what buyers are looking for in that particular area. You can also discuss the marketing strategy that you want to keep for your property according to your requirement.
3. Compare agent commission rate.
The commission rate relies more upon the area of your property. It’s better to know about the agent’s commission rate which will directly affect your money. If a local area has less number of agents that means there are chances of higher commission rates. If commission rate is higher then there are chances of securing a higher selling price, higher selling price means delay in selling the property and more money in their pocket too. Choosing an agent with lower commission rate means you can save more money. Comparing the rates will help you to save your money because at the end you have to pay for marketing fees also. So, the right agent with a lower commission rate will help you to gain more selling price.
4. Check the Reviews/Ratings by previous clients.
Read reviews given by the homeowners before selecting the agent. In this process, you can know about some points which will help you.
- What was the agent’s marketing strategy?
- Advertising is done by the agent for previous properties?
- Was the valuation provided by him accurately or not?
- Is he good at negotiating?
These points give you more clarity about agent. You can also contact their recent client in your local area. You can discuss these points which will help you to know the agent’s attributes and skills during the selling process.
5. Meet with at least more than one agent.
When it comes to hiring an agent, don’t rely directly on the first agent you meet. Most of the sellers directly hire their agent after their first meeting. According to Zillow’s research, 61 percent of sellers only contact one agent. But when you go through multiple agents you can compare them and go with the most suitable one. Ask each agent the same questions and compare their responses to select a better option for your property selling.
6. Questions to ask the estate agent
Here are some questions you need to ask, before hiring the agent
- How long have you been in the industry?
- How long have you been serving in a particular local area?
- Do you have a valid Fidelity fund certificate?
- How many properties did you sell in the last month or this year?
- Do you know how many properties are currently selling in my area?
- What is the realistic price for my property in the market?
- Are owners achieving the price they want for their property?
- Which marketing strategy is used by the agent to promote your property?
- The target audience for your property?
These questions will help you to identify the best estate agent for your property.
7. Preference of your communication and clarify your motivation to sell
There are lots of complaints from buyers or sellers that agents lack communication. Sometimes deciding time duration or only weekly updates sent by him will not help you. When you finally book your agent discuss how the agent will keep you informed and how often you expect to hear from them. You have to decide with the agent in which form you want to communicate, via email, by phone call, or by messages. Also, discuss when you have questions and expect a quick response on how he will tackle it. Make sure about these details in starting so the agent clearly knows what you expect as an owner.
Above mentioned points will help you to choose the right real estate agent for your property. Go through the process and choose your agent who will help you fulfill your all requirements and make your selling experience less frustrating.