Published on: Jul 23, 2016 @ 16:14
In fact, selling a home is the most important financial transaction for any individual. So, it’s worth considering using an estate agent who will provide you expert knowledge and legal protection.
From this week onwards, we have started to provide a step-by-step guidance to help you in understanding the entire selling process of your home. In this second part, we want to educate you on how to find an estate agent who not only helps you in selling your home quickly and for the best price, but also support and advise you throughout the selling process of your home.
In fact, selling a home is the most important financial transaction for any individual. So, it’s worth considering using an estate agent who will provide you expert knowledge and legal protection.
Estate Agent
Advantages of using an estate agent
In fact, most homes are sold today with the help of professionals who have vast knowledge and expertise in the whole buying and selling process. A real estate agent can make the home selling process less burdensome. He can guide you through every step in your sale which is crucial to the success of sale.
A good agent takes care of pricing, listing, marketing, showing your property to prospective buyers, negotiating with buyers on your behalf and helping you with legal formalities in selling your properties.
An estate agent will conduct the following responsibilities:
Setting the price:
- Once you choose your agent, he will visit your property and recommend an asking price
- An agent will conduct valuation on your property and provide a realistic indication of the value of your property
Marketing and Advertising:
- An agent helps you decide how to sell your property
- A good estate agent will do marketing on behalf of the seller, take photos and compile the description of the property
- He advises and coordinates the marketing of your property, including preparation of flyers, floor plans, and photography
- He also helps in preparing an advertisement to generate exposure for your property to attract the potential buyers
Arranging viewing of Your Property:
- An agent organizes meetings with prospective buyers to view your property
- He attends prospective buyers on inspection days and manages enquiries about your property
- He also provides access to more potential buyers via their own prospect database
Negotiating the offers:
- An agent handles sale negotiations on your behalf and strives to achieve the best possible price for your home
Finalising the sale through Legal Professionals:
- Using an agent also gives you legal protection
- He provides guidance on legal and financial services
- He helps you in finalizing the sale through legal specialists
How to find and choose a right real estate agent ?
Once you have decided to sell your property through a real estate agent, choosing an agent is one of the most important steps towards a successful sale. it’s important that you choose an agent whom you feel comfortable with. Always consider that selecting an agent is like entering into a business partnership where both parties stand to gain from a successful result.
To find the right agent, it pays to do some research. As you search for an agent, make sure your estate agent comes with a reference. Talk to your friends, family, colleagues and neighbours about their recent selling experiences. Also, go ahead and ask them for referrals and see if anyone refers you an agent in particular.
It makes sense to choose a real estate agent who knows the area and community much more and works with realistic and tactful approach. So, use an agent who can apply their expertise, local knowledge, and marketing power in selling your property. But, before finalizing an agent, you need to double-check their credentials and find out about their background and level of experience.
Interviewing the agent
Once you shortlist the agents who have the most potential then meet with them and ask them the following questions:
- What is their plan to market your home?
- How many properties in your area have they sold?
- How much house selling experience have they got?
Negotiating the Service fee
- Using the services of a real estate agent can be expensive in terms of marketing expenses and their commission fee on the sale of your property
- You will have to pay the agent a commission for their services. But, since it’s generally negotiable, you can talk about getting a discount
- Agents work at different price points but generally, he will charge 1% of the value of the property. You should look to negotiate the fee up front
- You will also need to decide whether to use a sole estate agent or multiple
Check their experience:
- Select a local estate agent with a proven track record in selling
- Also, see if he has experience in selling properties similar to yours in the past few
Assess their marketing skills:
- An agent should use at least a good brokerage website to showcase your listing, national listing portals, and social media
- While most marketing is done online now, your agent should still make use of traditional methods such as fliers and brochures, especially at an open house
Once you have selected your agent, make sure that you check the terms of appointment. It is your responsibility to know what you have agreed to before the signing anything legally binding. Next, you can start working with your agent and decide how to sell your property.
Ajay Verma, founder and writer of TheHousingWorld, a real estate and mortgage news website. He has over fifteen years of rich experience in the above mentioned industries.
