Why You Should Interview More Than One Real Estate Agent to Sell Your Home
“Less is more” may be a good philosophy in many contexts, but interviewing real estate agents to help you sell your home isn’t one of those contexts. Here, the rule of thumb is rather “more is better” – for many, varying reasons.
First off, employing the services of a real estate agent that is both qualified in their field and experienced in the area where they do business is the single best thing you can do to ensure the fast, profitable sale of your home.
Many people think they’d do better by trying to sell their home privately, saving on the commission real estate agents typically charge for their services. However, upon using an agent to help them sell, many sellers often quickly realise that the potential financial gains of using the services of a real estate professional far outweighs what you pay in commission.
The key here is that real estate agents operate in this field professionally, with access to a larger database of potential buyers, more marketing resources and greater expertise than amateurs with no experience of the real estate industry.
Still, getting a good overview of the pool of real estate agents operating in your suburb or city is the best way to find one whose vision aligns with your own the most. This is why it is important to interview more than one real estate agent in the search for someone to help you get your home from “for sale” to “sold”.
To Get a Fair Price on Services from Your Real Estate Agent
People shop around to get a good idea of what is available on the market, and to estimate which option is the most financially viable for them. Just like bargain hunting in a grocery store, home sellers would do well to interview a few candidates to help them sell their home – least because of the financial benefits of doing proper research.
In terms of how much you’ll pay a real estate agent for their services, fees may vary widely from real estate agency to real estate agency. While some agencies may charge additional marketing fees, which are not included in the agent’s fee or commission, others include marketing as a part of their basic offering.
Remember to keenly enquire about exactly how a quote is broken down, and to ask about additional fees. Other costs related to marketing may entail enlisting the services of a professional property photographer to take pictures of the home for listings in the print media and online, while agencies sometimes also charge for floor plans of the property (which are often also used in online listings – many agencies now also offer 3D floor plans, which allow prospective buyers to virtually tour the property), as well as for sign boards and brochures.
As far as the real estate agent’s own fee is concerned, he or she will probably charge commission on the sale of a property after the property has been sold. Commission structures vary, and agents may either work according to a fixed or a tiered commission structure. Put simply, a fixed commission structure means that the agent will earn a set percentage of the ultimate selling price of the property after its sale, while tiered commission allows the real estate agent to earn escalating commission if the home is sold at a higher price.
Do not underestimate the incentive commission creates for the real estate agent to try and get a property sold in the shortest possible time – and remember that commission that is very low doesn’t exactly motivate an agent to prioritise a sale.
Even if you are absolutely allowed to negotiate their commission with real estate agents when you interview them, the cheapest option isn’t always the best. Still, interviewing a number of potential candidates gives you a good idea of what you’ll be paying a real estate agent for their services.
To Make Sure Your Relationship With Your Real Estate Agent is the Right Fit
Having a good relationship with your real estate agent is vital. Keep in mind that this person will be assisting you in what will probably be one of the most financially significant transactions of your life – certainly one of the biggest.
Trust is essential when relationships like these are undertaken. And you don’t only want to trust this person with your finances. Real estate agents will have a significant hand in how your property will be portrayed to potential buyers in the online sphere as well as in print media. This is because they will likely make suggestions pertaining to repairs or renovations to your home, which could have a positive influence on the price the property ultimately fetches. They will be the person physically introducing your property to potential sellers when your home is on show.
It goes without saying that it is of the essence that your real estate agent is the right fit for you in what is usually a stressful time in any person’s life, and interviewing a number of potential candidates gives you an opportunity to try each candidate out for size.
To Get Additional Ideas on How to Sell Your Home
Each agent’s strategy and work ethic is different, and interviewing multiple agents helps you to get a good idea of how they will be undertaking the task of selling your home.
In this regard, you may get new ideas that might not have come up before, while in conversation with the people vying to help you sell your property. Agents will be able to advise you on current market conditions in your city or suburb – they are experts in this field – and can also teach you about the many ins and outs of selling a home, including details about the type of financing available to you, home staging, contract clauses, and renovations and repairs.
To Price Your Home Correctly
The selling price you set for your home will, without a doubt, affect the amount of interest there is in your property – but there’s a fine line between too cheap or too expensive. This “goldilocks” price can be best set by taking all of the properties and features of your home into account.
Potential real estate agents will be able to suggest an asking price by thoroughly assessing the property, taking into account comparable properties in your city or suburb. This starts with the property itself: the size of the property, its amenities and features (including the interior and exterior features, yard features and location, mechanics, and the style of the residence), the houses surrounding the property, as well as the city or suburb it is located in. This is known as a comparative market analysis, the purpose of which is to estimate the highest possible, albeit realistic, selling price.
Predicting what exactly a home will sell for is notoriously difficult, but setting a realistic asking price is paramount – this is one that doesn’t rob the seller of potential financial gain, but isn’t too high either, scaring potential buyers off and causing the property to sit on the market too long.
Comparing the different agents’ price recommendations will help you to make a decision about who might best serve your financial interests in an innovative but realistic way.
To Ensure Realistic Expectations
Interviewing a number of agents helps you to get a good overview of not only the state of your local property market, but also to gauge how much interest there might be in your property specifically, considering its state at that stage.
Although it is always hard to predict just how long it will take for any given property to sell, the agents you are interviewing should be able to give you a guestimate. Remember, only speaking to one agent about the sale of your property only gives you one perspective on the property market and the value of your home. For a more comprehensive take on the property market and where your home fits into it, multiple perspectives are essential.
More than one price estimation will also give you an idea of what the most realistic price your home might fetch could be. Similarly, it starts to sink in that certain renovations or repairs are crucial to getting a higher selling price when you hear the information from multiple agents.
Let Perfect Agent Help You Compare Real Estate Agents
Online agent finders like Perfect Agent are the easiest way to get access to a pool of different agents who already match you basic required criteria. This is done by completing a simple, quick questionnaire in the comfort of your own home – before one of our recommended agents sells said home in a flash, that is!
Your answers give us an idea of what you’re looking for, and Perfect Agent then recommends a number of agents to you. From here, you are free to interview each agent as you embark on finding the perfect fit for you.
Interviewing multiple agents ensures that you don’t make hasty decisions about who helps you sell, but rather make an informed decision that best suits your property, your personality and your pocket. Contact Perfect Agent to find your resident property expert today!