Sellers who approach the selection of their real estate agent based on what they charge or the size of the listing price they suggest are bound to be disappointed and instead should place the same importance as if they were selecting a surgeon to carry out a lifesaving operation according to CPREA Chairman, Geoff Baldwin.
“Of course selling a property is not a life a death situation but considering it is often our most valuable asset we should surely place its marketing and sale in the hands of the absolute best available “specialist” to ensure a great outcome.
“Often sellers will fall into the trap of choosing their agent based on which one claims they can attract the highest price however the folly of this is that the only influences an agent has on the price is in the competition they create with their marketing of the property and their negotiation skills when they attract an offer.
“An agent should to be guided by market evidence to a certain degree however their job should not be to guess what price can be achieved but instead to use all of their experience, contacts, knowledge, skills and diligence to achieve the highest price possible. Sellers who are seeking the best result should seek out the best agent rather than the agent who makes the biggest promises.
“Another trap is to select an agent who charges the lowest fee however the question is, if an agent discounts their fee to attract business are they likely to have the skills required to defend your price let alone negotiate with a hardnosed buyer.
“Of course every cent counts and a lower fee can look like a saving however a discounted fee often costs sellers ten, twenty thousand dollars or even more because they don’t have the right representation when it counts.
“Just as they would if they were employing an accountant, a lawyer or a medical specialist, sellers are encouraged to select their agent based on optimising their outcomes and achieving their desired result”, Mr Baldwin said.
Author, Media Contact - Geoff Baldwin