In this latest blog from Gott Realty, we present to you our top tips on How to tell if you are selecting an honest Real Estate Agent to sell your home.
While you may want to see the best in everyone, not everyone tells the truth when it comes to real estate. So, we’re here to give you the insider information.
What to look out for
There are plenty of stories around about agents who seem dodgy. Yet, with stories aplenty, sellers still go ahead and select these agents sell their homes for them.
Because when a dodgy agent walks into the seller’s home, the agent is as nice-as-pie to the seller, allowing the seller to think the best and decide to use them.
It’s not long after they have signed the paperwork, that the agent changes their attitude and things tend to go pear-shaped from there.
How to tell if your Real Estate is going to be Honest with you from start to finish.
Do your research! Most sellers think that all agents are the same; they all charge about the same commission and they all use the same advertising/ promotion plan. This is one of the biggest mistakes a seller can make.
Mechanics are a good example; a big brand or mobile outfit could have a very good mechanic working for them. But you could also find a dodgy mechanic working under the same name, each one is individual, and you need to do your research.
When selling your home – your only tax free asset, choosing an honest, experienced agent should be paramount. The difference could be $20,000 or more better off in your sale price. If you compound this $20,000 out to after tax dollars means you could be looking at being over $30,000 better off.
7 ways to tell if the Agent is being Honest with you
Here is seven ways to determine if an agent is steering you in the right direction when discussing the sale of your house:
1. Their approach during the appraisal stage.
They don’t embellish past sale glory and carry on about how good they are or how wonderful they are at selling homes.
2. They provide you with an accurate CMA
They provide you with an accurate CMA (Competitive Market Analysis) of your home without hiding price or not wanting to ask you for a price. That is, they can show you at least 3 similar properties like yours that have sold within the last 90 days and within a couple of kilometers of your home.
3. They provide you with a selling range
They provide you with a selling range that is based on the CMA and show you (from the CMA) how they came up with the expected selling range.
4. They advise you of the best pricing methods
These being a “Displayed Price” method or “Offers Over” pricing method. These pricing methods will attract buyers to your home.
However, another pricing method that some agents use is “No Displayed Price” such as “For Sale Now”, “By Negotiation” or many other variants. This method can eliminate some potentially very good buyers from even inspecting your home. As there are some buyers who simply avoid inspecting homes that don’t indicate a price range.
If you are considering using this pricing method and even one quality buyer avoids inspecting your home, you could pay the price. It’s a waste of money to advertise your home in a way that will turn buyers away before they step foot inside.
NOTE: Auctions are a specialized marketing method that can achieve great results for the right property and market conditions. Read more about auctions and why no price indication may work for sellers here.
5. They have a modern promotion/advertising plan promoting your home.
Not the standard cookie cutter approach to advertising so many agencies They want your home to stand out in the crowd against the competition from other sellers with killer photography across many media platforms. Their goal is for your home to be the one that buyers want to inspect and dream about owning.
6. The agent is transparent about open homes.
They will show you a list of all those who attended , so you know exactly how much interest the property received.
7. Transparency with negotiations.
All offers presented go through an offer and counter offer process. Ask how the agent performs this process. Is it the old method of each buyer signing a contract at their highest price, or is it the new modern open method of negotiation where you the seller, and all buyers know where everyone is standing in the negotiation process? This process applies for multiple offers.
If you select a modern agent with the experience, promotion, transparency and who wants to work for you not the buyer, you will be happier with the sales process and the price you sell for.
How to tell if your Real Estate Agent is being honest with you
Thinking of selling your home? Speak to Gott Realty today!
If you’re looking for a real estate team that is honest, respectful and always acting in your interests, speak to us today about how much your home is worth.
Our team has unprecedented access to local property data and insights, and we are here to help you sell your property for the best price possible with the least amount of stress.
Gott Realty service Albany Creek, Eatons Hill, Cashmere, Warner, Lawnton and Bray Park and many more areas across North Brisbane. Learn more here on our blog.