How to Choose Agents

Hi,

I am in the process of selling a property. My question is how to choose a good agent? Do you always choose the agent selling the most property in the suburb?

I found one agent who is properly the top agent the area. However, I found his prices are always lower than others.

What is your suggestion?

Do you mean the price he thinks your house is worth, or the prices of sales he's done? If he has told you a lower price for your house than the others, it could be he's being quite honest with you, and the others maybe inflating their valuation to get your business eg. "I'll get you $500k no probs!" when the house is in actual fact worth $470 and will most likely sell for that price.

A lot of the time agents will tell you a higher price that you want to hear so you'll sign with them, then after a couple of weeks on the market comes the inevitable conversation where they tell you how you're probably going to have to drop your price etc. etc. At least this guy is honest up front (assuming I understood you right )

Cheers
Steve

TheAnalyst said:

I am in the process of selling a property. My question is how to choose a good agent?

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But that's the second question to ask...you skipped over the first question.

Dazzling said:

But that's the second question to ask...you skipped over the first question.

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"Why am I selling?" ?

Cheers
Steve

You choose the agent who most closely represents what you stand for. If you want best advertising, choose the agent who has the best advertising package. If you want the best negotiator, choose the agent who you feel most personifies these skills. If you want to be happy with the entire process, choose an agent who doesn't skirt your questions, involves you and gives you updates and is upfront about their fees (including hidden charges such as advertising).
Personally, I deal with agents who I trust based on my dealings with them and who I know to act with integrity in their dealings with buyers.

I am fairly new to this forum and about to go through this selling process myself. Alanna's comments about the agent showing trust and integrity are very important.

As a salesman myself (not real estate), my suggestion would be to look for an agent who can demonstrate sales skills such as qualifying your needs properly and using appropriate closing techniques when they are in front of you. I beleive that if they demonstrate these skills with you, they will also use their skills to 'qualify' buyers properly and in turn get a higher price for your home.

I choose agents by actually watching them perform in the suburb I am selling in. If I am selling by auction I attend auctions and watch the performance of the auctioneer. I also ask anyone I know looking to buy in that area and see who as buyers they prefer to deal with.

I would not select the agent based on the price they say they will get for your property. Some will be loading it so they will get your business. Don't choose them on how much they love the colour you have painted the lounge either. Agents are great at flattery

One property we sold in inner Melbourne we chose both our auctioneer based on his performance (ability to squeeze out those last few thousand whe he already had it in the bag) and a very approashable female agent to attend to the actual openings. We achieved a record price.

Be very very cautious of "top performers" they are usually top sales people because they have very little knowledge in the industry and turn properties over quickly at lower prices.

They do sell alot of properties but at appauling prices!

If an agent has a track record of "auction sales" KEEP AWAY!!! These guys tend to offer lower commissions and make money on turn over by selling properties quickly and definately at any price using the dodgy method of auction sales!

A skilled agent that is a good negotiator will use private treaty as a preferred method of sale, take their time to negotiate the highest price and not be too willing to drop their commissions just to get your business.

What about making a few enquiries with agents in your area as a perspective buyer? Just make up some false details and give your mobile number. Go to a few open opens and see if you get any follow up calls.

See how they treat you as a buyer. If they don't return your calls, or don't follow up from an open don't deal with them.

We just sold our PPOR.

When we interviewed one agent and asked why we didn't get a follow-up call after going to one of their opens, they made up some story about the phone ringing out. We knew they had already lost the listing but their dishonstey meant that we weren't going to deal with them.

Another agent took 3 days to return my call after making an enquiry regarding a house listed in the homes guide. Not acceptable.

I like the question "You just sold the house around the corner at x smith street. Do you mind if I go and ask the vendor how you handled the sale? What do you think they will tell me?"

You also want to be able to withdraw out of the exclusive sales agreement if you are not satisfied with their service. Not be stuck with them for 90 days.

Hi, All,

Answer few questions and my comments.

Why I am selling? ---- First I am ALWAYS prepared to sell any property as long as the price is RIGHT; Second, I do not like any IP will have very high CG to wait for me to pay the tax; Third, I like to sell one then buy TWO (I understand the implications you may ask such as fees and stamp duties). I do not like to hang on one property for very long time. This method works quite well for me.

The reason I said the agent sold a lot of the properties in the suburb at lower price. I as an investor know quite well about that local market. From the proerty he sold and price he got was not as I expected ---- NOT my property. A lot of investors buy from him. Also he charges a FULL commission.

I also found he does not have any new approach or whatever than other agents but does the same way as others. The only difference is his listing price is lower.

TheAnalyst said:

Hi, All,

I do not like any IP will have very high CG to wait for me to pay the tax; .

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Are you saying that you like to avoid high profits because high profits mean more capital gain tax?