Real estate agents are your best bet when you want to sell your home hassle-free. In the article below, you will learn the various considerations you should make when hiring a real estate agent.
Reputation and Marketing
Check real estate blogs and social media reviews to examine the reputation of various agents in your locality. Reputable agents have a professional indemnity cover to protect clients from losses caused by errors and omissions.
Inquire how the agent will market your home. Experienced agents have a berth of networks and will quickly sell your house through word of mouth. Most agents will also advertise your home on social media and their websites. They may also list the property on local dailies and advertise the property during real estate expos.
What services does the agent provide? You may need the following:
- Other than marketing, you may need the agent to organise home visits for interested customers.
- The agent should appraise the property and help you determine a reasonable asking price.
- The agent should also provide consulting services. For instance, when is the best time to list the property? Does the property require any renovations? How do you prepare for home visits?
- Some real estate firms may provide conveyancing services. However, you will pay an extra charge.
Terms of Contract
What would happen if you were no longer interested in the agent's services? Would the agent charge a penalty? Critically evaluate the terms of the contract. For instance, sole selling rights means that you cannot use another agent to sell the property for a specified period. On the other hand, a multi-agency contract enables you to use as many agents as you wish. A ready, willing and able buyer contract means that you will have to pay the agent for finding customers.
Does the contract have a continuing liability clause? Typically, this means that you might have to pay the agent a small percentage of the selling price even if you use another agent to sell the house.
The agent must have a clear pricing strategy. Most agents will charge 1–3% of the asking price. However, inquire about extra charges. For instance, is the amount inclusive of taxes? Some agents may charge an additional fee to advertise the property on specific websites.
When hiring a real estate agent, examine their reputation, how they will market the property, the services they provide, the terms of the contract and their pricing strategy.Share