How to choose an agent to sell your home?
10 Nov, 2011
Selling a property is not something you do every day so knowing what to look for in a selling agent isn't exactly an easy thing to do.
If you choose a selling agent purely on quoted price, you could make a huge mistake.
Thousands of sellers have learned from bitter if not expensive experience that the price the selling agent says you should achieve and the price the property is really worth and ends up selling for are often quite different.
More often than not selling agents who tell you a more accurate "at market" price lose business to agents who tell prospective vendors an inflated "above market" price. This puts the more honest agents in an unfortunate situation. If they tell the truth, they run a much higher risk of not getting your business at all — and the problem is they all know this.
Ask the agent to justify their quoted selling price by showing you examples of the original quoted price and final selling price of homes they have sold in the area.
Interviewing selling agents is similar to a job interview. The job description you're after should be along the lines of: "A person you like, who presents well, who genuinely likes your property, who you believe will act in your best interests and be honest with you at all times and will work hard to get you the highest price possible".
Do your homework on the agency also paying attention to:
* The quality of its website. Was it easy to find them and navigate through to view properties? Do they add descriptions which make you want to inspect their properties? What's their area profile like?
* I suggest you become a mystery shopper with any local agencies you are considering going with. See how they really treat prospective buyers.
Picking the right person could easily make a five percent or more difference in the final sale price so do your research and pick wisely.
Ask your friends for a referral to someone they have dealt with. Have they worked with an agent who did a great job?
Once you have one or more agents in mind, make an appointment with each one to learn more about their services. Listen to your instincts. Show each agent around your home. Watch their level of interest by seeing if they ask questions or make notes.
A couple of good questions to ask each selling agent are:
* "What will you do to get the best price for my home?" and "What will you do to sell my home if the advertising you suggest doesn't work?"
* Ask them to explain the benefits of any marketing tactics that will be used to sell your house; including print, the Internet and other types of advertising (you'll already know much of this if you've done your research on them).
* What's their commission rate? How does it compare to that of other agencies that offer the same services? Keep in mind I don't suggest you pick the cheapest or the dearest … I suggest you pick the best person for the job and as long as their fee is reasonable then use them.
* Find out how long they want you to list with them, keeping in mind that three months is pretty standard. Some will say to you I would have this sold in a few weeks with the amount of buyers I have on my books so offer them a four week agreement and gauge their reaction.
Ensure your selling agent or agency are members of the REIV (or relevant industry governing body). REIV members are required to have professional indemnity insurance - an important consumer safeguard. In addition, REIV members are kept abreast of changes to legislation and regulations affecting the real estate industry and ultimately the decisions of their clients.
Finally, it is good to know how long the (potential) listing agent been licensed to sell real estate and what else they have sold in the area as you don't want to trust the sale of such an important asset to an inexperienced person.
Remember, do not be intimidated or allow yourself to be pressured into doing anything that doesn't feel right. It is your home and you are in charge, so take your time when making such an important financial decision.
Things to consider when selecting an agent to sell your home - By Patrick Bright.
For more information from Patrick Bright visit epspropertysearch.com.au.
Why choose Elders Werribee & Tarneit?
10 Nov, 2011
The team at Elders are professionally trained in every aspect of the real estate market.
Not only do they have great skills and an intimate knowledge of the marketing process, they understand that selling a home is a very personal and often emotional experience.
Elders staff recognise that the selling process requires empathy, patience and support and we have experience in meeting and exceeding our vendors needs every step of the way.
At Elders, we tailor a marketing campaign to suit the location and style of your property. Our proven marketing programs ensure maximum exposure to potential purchasers by utilising an unparalleled multi-media presence ranging from print media to the latest electronic marketing stratagies.
In all our property sales experience, we know that the most important in the sales process is you.
Your goals are our goals and with the team at Elders behind you, you have access to the very best systems, skills and resources to produce the outcome that is right for you.
If you are interested in selling your property, contact our sales team and let us show you the best strategy to sell your home.
ELDERS WERRIBEE & TARNEIT - ELDERS NETWORK SALES OFFICE OF THE YEAR 2009, 2010 & 2011.
COMMON REAL ESTATE TERMS EXPLAINED...
23 Dec, 2009
Elders Real Estate understand that buying or selling property can be a daunting experience.
We are pleased to provide this list of Real Estate terms, explained in plain english, that you may come across when buying or selling property.
Asking price: The listed price of the property. The owner may be willing to negotiate so this may not be the selling price.
Bridging loan/bridging finance: A short-term loan used to cover the financial gap between buying and selling.
Building inspection: A thorough inspection by a licensed builder that evaluates the structural and mechanical condition of a property undertaken at the buyer's expense.
Buyer's market: When the demand for property is less than the supply of property the advantage shifts to the buyer.
Certificate of title: A description of a property that includes the name of the registered owner and any encumbrances such as mortgages and easements. This will be included in the contract of sale prepared by the vendor's solicitor.
Commission: A proportion of the sale price (generally a percentage) of a property paid to real estate agent for negotiating the sale.
Contract of sale: An agreement in writing that details the terms and conditions in regards to the sale/purchase of a property.
Conveyancing: Traditional term for the legal work involved in the purchase and sale of a property.
Deeds: Legal title documents proving ownership. The deeds will be held by the mortgage lender.
Deposit: A percentage of the purchase price given at the time of exchange or winning bid at auction to bind the sale. It's usually around 10 percent of the purchase price.
Deposit Bond: A bank guarantee which can be purchased from the bank and used as a security in leiu of cash deposit payment.
Easement: A right that someone has to use the land that belongs to another. An example is a water authority having a sewerage easement.
Exchange of contracts: The point at which signed contracts are physically exchanged, legally committing the buyer and the seller to the purchase and sale of a property at an agreed price.
Fittings: Objects that can be removed from a property without causing damage.
Fixtures: Items such as built-in cupboards, stoves, dishwashers, etc, which are fixed to the property and cannot be removed without causing damage.
Listing: A written contract between an owner and a real estate agent, authorising the agent to perform services for the sale of the owner's property.
Local authority search: Procedure whereby a buyer's solicitor makes an enquiry to the local council regarding any outstanding enforcement or future development issues which might affect the property or immediate area.
Market value: The price at which a seller is happy to sell and a buyer is willing to buy.
Off the plan: When you buy off the plan, you are buying a property before it is built, having only seen the plans. This is commonly used for apartments or units under construction or soon to be built.
Owners corporation: The administrative body made of the owners of a group of units or apartments of a strata building.
Passed in: When the highest bid at an auction doesn't meet the reserve price set on the property. In effect, the property doesn't sell at the auction.
Private treaty: A sale of a property at an advertised price that can be negotiated (also known as private sale)
Reserve price: The minimum price which a seller will accept at auction.
Section 32: A legal document provided by the seller of real estate (vendor) to an intending purchaser. Its name comes from Section 32 of the Sale of Land Act, which requires a vendor to provide certain information to a purchaser BEFORE a contract of sale is signed (also known as a Vendor Statement).
Semi-detached: A property which is joined to another house.
Settlement: The sale of a property is finalised by the legal representatives of the vendor and the purchaser and the new owner takes possession of the property.
Stamp duty: A state tax on conveyance or transfer of property calculated on the total value of the property.
Strata title: The most common title associated with townhouses and apartments. Individuals each own a portion of the title, known as a "lot" and share common property.
Studio: A flat consisting of one main room or open-plan living area incorporating cooking and sleeping facilities and a separate bathroom/shower room.
Valuation: A written analysis of the estimated value of the property prepared by a qualified valuer.
Vendor: The seller.
Zoning: Local authority guidelines for the permitted use of the land.
Story by Hannah Nicholas