Some people think engaging a real estate agent to sell their home means losing control. After all, they’re relying on someone else to get the best possible price for their most valuable asset.
So if you’re worried that someone else will be calling the shots and not you when selling your home, here are 7 ways you can stay in control.
1. Compare agents
The most obvious way to keep control is to choose the best real estate agent. And while that may seem easier said than done, your chances of finding the right agent will increase significantly if you compare the track records of several agents in your local area.
When you do, make sure you drill down past the volume of sales they’ve made and compare their track record of selling properties with the same features as yours. After all, the real estate agent who gets the best price for two-bedroom apartments is unlikely to be the same as the one who’s best at selling five-bedroom family homes.
2. Ask the right questions
When you’re comparing agents, be sure to ask some searching questions both about the sales process and the sale itself.
This includes the likely value you’ll achieve for your home (always ask for a signed valuation), what type of buyer you’re likely to attract and what the best way of attracting that buyer is.
And when the agents you’re interviewing give you their answers, be sure to ask why. That way you’ll know the justification for what they’re doing and have a better chance of holding them to account.
3. Price correctly
Getting the listing price wrong is a surefire way to have a sale spiral out of control. For instance, if you set the asking price to high, you may find your property fails to attract offers because people think it’s overpriced…. And that’s if you can get people through the door at all.
On the other hand, by pricing too low you’ll probably sell quickly but you’ll also fail to achieve the best price.
While no one can tell you exactly what a property should sell for, again the best approach is to always get a signed valuation from multiple agents. That way you’ll have a realistic target in mind and can price accordingly.
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4. Generate interest
By denying people the chance to see your home, you’re not keeping control, you’re losing it.
Achieving the best price for a property means getting as many people interested in it as possible. But some people hold back on marketing their property too widely.
Often it’s because they don’t see any value in it. (‘It will sell anyway’). Other times, it’s because the idea of people pouring through their home is enough to give them palpitations.
So pay for decent marketing, hold open homes at convenient times and let your agent do their utmost to let people know that your property’s on the market.
5. Present properly
Most buyers want to move to a place that’s better than the one they’re living in now. So spend some time and money getting your place looking as good as it can.
To control how people perceive your property, you should present it in a way that shows off the potential lifestyle to your likely buyers - whether that’s families, downsizers, young professionals or others. Sometimes, it’s also worth paying a professional stylist to make the property as appealing as possible - especially in upmarket areas.
6. Play your cards close to your chest
The moment you reveal to buyers the price you’re happy to settle for you’ll lose your bargaining power. That’s because they’ll generally use your price as a starting point for negotiations and beat you down from there.
So play your cards close to your chest in all your marketing and try to make sure your agent does the same at open homes.
7. Use an Agent Selection service
Finally, if you really want to make sure your agent is working for you, consider using a service like Agentselect.com.au .
Get someone who knows the property market inside out, has all the latest performance data and can help you get the best price. They do this by helping you choose the best agent, showing you the best ways to sell your home and showing you the best way to spend your advertising money. They’ll also help you hold the agent accountable for everything they do during the sales process.
Ring Agent Select to find out more.
Agent Select is a free and independent service that helps consumers select the best performing real estate agent, and negotiate the best terms to sell their property, anywhere in Australia. Agent Select’s three step process provides you with a property report, compares sales proposals from three local agents in a customised Agent Comparison Report, and gives you complete freedom to appoint your chosen agent to sell your property with confidence. Find out more at AgentSelect.com.au or call 1300 243 687.