Agent?
March 16, 2007 – 9:27 am | by JohanNew Here? You’re Invited To Simon’s Town News Updates Subscribe here.
Simon’s Town Property Advice
Are you looking for a “secret agent” or an estate agent?
How do you qualify an estate agent before you appoint one?
In another article I mentioned that as many as 65% of all property deals fail because the estate agent did not qualify the buyer.
I also mentioned how you unintentionally create competition between real estate agents instead of competition between buyers and therefore defying the aim of selling your property for fair value.
My intention with this article is to give you the tools to select a top real estate agent because I am sure that you want to work with the cream that can get you between 7% and 23% more.
Let’s look at some of the criteria in selecting an estate agent for your home in Simon’s Town:
- Can your estate agent negotiate?You cannot objectively decide if your agent will be able to negotiate a fair deal . But if you know a little about body language it might help you in`your decision. The easy way is to compare estate agents with dog breeds. Consider for example a Jack Russell, Pit Bull, Labrador, Poodle and a Chihuahua. Intuitively I prefer the Jack Russell and the Labrador, the rest are a bit risky.
Another sure sign that agents cannot negotiate is when they are willing to accept any commission offer; they may even suggest a lower commission. It’s ok for you as the home owner to pay a lower commission but when estate agents are willing to throw some of their income away how can they respect the value of your home?
You need to choose an estate agent who is capable of motivating prospective buyers to submit offers and who is ultimately able to close deals to the satisfaction of all parties.
- Does your estate agent have a 17 point marketing plan?According to Act 122 of 1976 estate agents must have a marketing plan when they agree on a sole mandate. In order to comply with the act and the estate agent code of conduct SimonsTownRealty.Info makes use of a 17 point marketing plan.
We advice you to only appoint estate agents with a written viable marketing plan. Compare their marketing plan to the 17 point SimonsTownRealty.Info marketing plan and then decide if they qualify.
- How clued-up is your estate agent on property values?Your Simon’s Town estate agent should know how long it takes to sell property in the area, the high and low prices in the area, the number of sales per month, the number of properties in the market and the annual appreciation of value.
In addition, they need to show you the Simon’s Town property trends over time, because without Simon’s Town’s historical property-value trends you may either ask too much or too little for your property.
- How and when does your agent qualify a buyer?I mentioned before that 65% of all realty deals in South Africa fail. In most cases because the agent did not qualify the buyer. Unqualified buyers will visit your property, waste your time, might even give you an offer to purchase that will fail.
The rule use by all top agents is to qualify all buyers before taking them to your property.
- Do you expect a formal feedback system even if it is painful?The top complaint by sellers is that they don’t get feedback from their estate agent. The best agents have a written procedure (agreement) on giving feedback.
- Do you want a legal estate agent?Ask your estate agent to show you their Fidelity Fund Certificate and a copy of the EEAB Code Conduct.
When you have any questions please ask today. At SimonsTownRealty.Info the answers are free.
Wishing you well
Johan & Elmarie Horak
P.S. “I would rather turn you down today than let you down later”
Contact SimonsTownRealty.Info Now
Cell: (027) 082 870 2004
Cell: (027) 082 955 6464
Fax: (027) 086 512 0274
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SimonsTownRealty: Sell, Buy A Simon’s Town Property? Phone Today 021-7864028 or 082 870 2004
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Tags: Before You Sell, Real Estate Agent
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