One of the first and most important steps in selling your property is selecting the right consultant to work with, and for, you. The following information offers tips and raises some of the issues that you should consider before enlisting a consultant to represent you in the marketing, negotiation and sale of what is probably your greatest asset.
First and foremost you need to feel comfortable with the consultant as a person. They will be spending a lot of time in your home, looking after your possessions during Open Homes, representing you in negotiations and working closely with you throughout the process. Trust your gut feeling on this one.
Bearing in mind that you won’t really get to know your consultant until the marketing programme begins, it is wise to have a cancellation option on your listing agreement.
A reputable consultant and company will be happy to offer this.
It is advisable to see a number of consultants before deciding on one person. Do not be pressured into signing. Make sure that you feel confident with the individual and the company that they represent. If you like the company, but don’t feel comfortable with the consultant, it is perfectly acceptable to see one of their colleagues.
If your consultant has not been recommended to you, ask for testimonials, a good consultant will be more than happy to provide written and verbal references. Look for a good track record and a reputable company with strong management.
Make a point of familiarizing yourself with property marketing by looking through publications that your property is likely to feature in. Being involved in the marketing is important and could save you a lot of money in costly, misdirected marketing. Select a consultant whose previous marketing efforts stand out.
Can your consultant offer a range of selling options, e.g. Auction, Tender, Fixed Price Sale? Various options may be utilised depending on market conditions, type of property and time factors relating to your property. A consultant who favours one method needs to be able to explain why it is the most appropriate for your property.
The key to obtaining top price for your property may lay with the negotiating abilities of your Agent. What experience do they have and what do they know about the principles of negotiation?
Endeavour to gain an understanding of the realistic market price for your property.
Do not be tempted to sign with a consultant who quotes a higher price for your property than others. Often overpricing can either indicate a lack of experience or deception to win the listing. Overpricing can be detrimental to the marketing process as we explain further in our article on Pricing Your Home.
You are under no obligation whatsoever to disclose the reason for selling your property, there is no reason that your consultant needs to know this either. Some unscrupulous consultants may use this information in the negotiating process, and it could work against you, be wary of a consultant who plays on your need to sell.
It is your right to have regular and open communication. Don’t be afraid to ask questions, it is part of your consultant’s job to keep you informed and to explain the processes of the sale. From experience, the best vendor/consultant relationships are those where the two parties have a mutual respect and understanding of the other. Your consultant must respect your needs and be willing to accommodate your requirements.
Some companies are cheaper than others. Be careful not just to choose on commission charges. You will probably find that a perceived saving in fees could cost you a lot of money as this usually reflects the salesperson’s ability to negotiate at the point of sale. A well-trained negotiator is well worth paying a slightly higher fee for.
In conclusion, remember that selling a property can be a pleasurable, straightforward experience if you select your consultant carefully. Look for honesty and openness, if the consultant makes you feel uneasy, find someone else you are comfortable with. Have an input into the marketing, but leave the negotiations to your Sales Consultant and if the pricing and marketing is right, then a sale should follow.
On behalf of the Ray White Allens Team, we wish you the very best.
In the meantime, start planning your next move! It is a good idea to use this time to your maximum advantage because, once the offer is confirmed unconditional, the time for planning may be more restrictive.