All Real Estate agents are the same right?…..
Such a common misconception is that all Real Estate agents are the same. We all drive black BMW’s, wear expensive suits and clothes and want to take a percentage of your home for a commission at the point of sale. So why would you pay one agent more than another? Why would you call in multiple agents if we all do the same thing?
The answer to that question is quite simple, I will put it into a context to help everyone understand.
Think back to when you were at school, and think about all the teachers you have ever had. I am sure that when you look back there will be one stand out teacher, one that really helped you or had a hugely positive effect on your schooling time. Or alternatively a teacher that had a really negative effect, and made your life hell. Now even though there are stand outs in your mind with teachers, all of those teachers went to the same school and college, did the same degree and made the same money. Real Estate agents are the exact same. Yes we all put your properties on the internet and advertise in the paper, and we all put signs up and take photo’s of your property- and believe it or not- we all did the same Certificate at TAFE. BUT as the example above shows, there can be significant differences between similarly qualified individuals in a profession. Let me give you a few tips and answers to some questions you may be thinking.
1. Doe’s the agent sell homes locally? Have they got a good track record in the area?
This is important as a lot of agents will list properties far away from their office, which means they aren’t dealing with local buyers from their other listings. Also do you really think an agent will want to do lot’s of open inspections or private show through’s if they have to drive two hours to get there? Probably not.
2. What company do they work for? Has the company got a large presence in the paper or online?
This question is becoming more and more important as the market conditions become tougher. Smaller boutique companies may claim to give you a more ‘personalised’ experience, however at the end of the day you are still dealing with just one agent. Larger companies will have a much more demanding presence in the local paper’s and on the internet, thus attracting more people to your property. Also with larger companies, the potential for other agents within that company to meet a buyer that is looking for your home increases dramatically. Example being with Ray White, who have over 45 offices and 200+ salespeople which sell more property than any other company in SA. Means we meet ALOT more buyers every single weekend than with any other company.
3. What do they offer regarding marketing?
Some agencies have in the past decided that marketing is not important and does not deserve the cost’s involved. Those companies can not be named as no body knows who they are, or what if anything they have sold. Also other agencies have a “NO SALE, NO CHARGE” mentality, however they will then only take photo’s with their iPhone’s and put up a cheap sign and no advertisements in the paper- not the best idea in a slow market.
You need to look for an agency which can offer you professional photography, a large internet presence with up-to-date marketing techniques and everything in between. Signs, brochures, a database of buyers, multiple internet sites, large advertising space in the paper- the lot. Because basically you need the best you can get in a market with less buyers than ever before.
4. Do we need to feel really comfortable with our agent?
This is a tricky question, however basically the answer is no. At the end of the day you need to feel confident in the agent’s ABILITY to sell your property for the highest possible price- you don’t need to be best mates with them.
However in saying that, you do need to feel comfortable to speak freely with your agent, and have an agent who feels the same. Honesty and trust are words not commonly associated with Real Estate agents- so if you find someone with these traits- sign them up!
So as you can see from these few questions, there can be a huge difference between agents, and this is just the tip of the ice-berg! Negotiating, open inspections, auctions, presentation, manner, and general skill all play a large part too!
My suggestion would be if you are looking for an agent to sell your home, find who the local agents are and call them all in. Sit them down one after the other and look for who would be best for selling your property. Don’t just look at who is cheapest and who says your home is worth the most. This is a business decision and you need to act like the CEO. What is best for your home and YOU?
Thanks again for your time! Call me if you would like to find out what Ray White can offer and experience the Paul Hnoudis difference.