When it’s time to sell your property, we all desire to achieve the highest possible price. However, when selecting an agent, focusing solely on the highest valuation isn’t necessarily the most important factor in making your decision. Instead, you should carefully weigh the pros and cons of each agent and determine which one truly has your best interests at heart.
Here’s why choosing an agent involves much more than just considering the property valuation:
Valuation Methodology A competent agent will determine the value of your property based on various factors, including market data, recent sales of similar properties, current market demand, time on market in your area, and general market conditions such as auction clearance rates, interest rates, and property volumes. However, it’s crucial that you understand their specific methodology.
Some agents may provide an inflated price to win your listing, knowing it’s what you want to hear. While a high price point should be taken into consideration, it should be evaluated alongside other factors.
Track Record As the saying goes, a quality agent’s worth is measured by their proven track record. This includes the sales they’ve achieved and the relationships they’ve built with involved parties. A reputable agent’s reputation will precede them, and you can rely on testimonials from satisfied clients who highlight their professionalism and the value they bring to transactions.
Knowledge The property market undergoes rapid changes, influenced by numerous factors. The agent you choose should be well-informed about these market conditions and capable of explaining how they may impact your situation.
Marketing While it’s essential for an agent to state the value of your property, it’s equally important to consider how they will effectively communicate this value to the market. Will they proactively reach out to potential buyers in their preferred platforms, such as Facebook, print marketing, or targeted email campaigns? Do they possess a database of buyers looking for properties like yours? What resources and strategies will they employ? Will the marketing campaign be customized to showcase your property’s unique features, or will it be generic?
Compatibility Above all, it’s crucial that you have confidence in the agent sitting before you. Do they share your values and have a similar perspective on your property? Have they taken the time to understand your goals and demonstrated their expertise in achieving them? The best agents will collaborate with you, offering honest advice. Sometimes, this may mean suggesting a slightly lower price than you expected. However, if you have faith in their judgment, it’s worth considering their opinion.
The Truth About Price Price is just one aspect of a property sale. Other factors to consider include the duration your home will be on the market, the commission structure, the advertising budget, and the potential costs of unrealistically pricing your property from the beginning. Setting an unrealistic price that doesn’t align with the market can deter potential buyers, increase advertising expenses, and ultimately jeopardise a successful sale.