How To Find Out Who Is The Best Agent In Your Area — Part 1

Find­ing the best agent depends on what you con­sider are the best attrib­utes and how good they are at these. They are cer­tain traits and res­ults they should have and it’s more than just being a smooth talker. From my exper­i­ence in this industry and the research I have done, these are the attrib­utes that really mat­ter to the end selling prices and low vacancy rates.

If you would like a con­trast to what I’m going to explain in this art­icle have a look at this page which out­lines how to find a bad real estate agent to buy from.

So here goes here are some key things I would look for if I was look­ing for a real estate agent to sell my home;

Days On MarketDays on market - stale listing - perceive something is wrong with a property if it's on the market for an above average of time

If you have a look at a real estate agent’s stand­ard days on mar­ket (how long it takes them to sell prop­er­ties on aver­age) it will tell you a lot about them.

Put it this way if an agent has a lower than aver­age days on mar­ket com­pared to the rest of the agents he is obvi­ously doing some­thing dif­fer­ent. I would con­sider his skill level to be higher and his nego­ti­ation skills to be bet­ter.

If prop­er­ties stay too long on the mar­ket they become harder to sell as the most interest hap­pens in the first two weeks of mar­ket­ing a prop­erty. We call this a “stale list­ing” and the pub­lic begin to per­ceive some­thing is wrong with a prop­erty if it’s on the mar­ket for an above aver­age of time.

Smart agents can edu­cate their seller about this phe­nomenon. They pre­pare the seller and get them to act before it becomes an issue. This helps make it a very smooth and luc­rat­ive sales pro­cess in most cases.

Large Mar­ket share

This is not neces­sar­ily the agent that has been in the area the longest. It’s usu­ally an indic­a­tion of how well the real estate agency is run­ning and how well sales, mar­ket­ing and admin systems/people are work­ing together.

You should get a bet­ter cus­tomer ser­vice exper­i­ence, because without it they surely wouldn’t have got­ten as big as they are. As a bonus they should have a lar­ger pool of buy­ers for your prop­erty, as they will be con­duct­ing more open homes and the sys­tems should be send­ing out “buyer alert emails”.

Do they nor­mally sell your type of property

Let’s say you were selling a com­mer­cial prop­erty but you call out a real estate agent with the largest mar­ket share but it makes up of all res­id­en­tial homes, I doubt they would have a ready to go buyer on their hot­l­ist for your prop­erty. I doubt they would have con­tacts and the in-depth know­ledge for mak­ing a smooth trans­ac­tion. Also nego­ti­ation strategies for Home buy­ers may not work on com­mer­cial prop­erty buy­ers as they are more busi­ness savvy.

Do they specialise

A good example is that we have an agent in our office that spe­cial­ises in devel­op­ment sites. He has all the con­tacts to be able to mar­ket a devel­op­ment site and also shares that exper­i­ence and know­ledge through­out the office. This makes the entire sales team very good at selling off the plan prop­er­ties and also helps us com­mu­nic­ate with developers to get the best results.

Not all agents have exper­i­ence with mar­ket­ing an entire devel­op­ment site, this can be com­pletely dif­fer­ent to nor­mal house and land sales. Exper­i­ence is all the dif­fer­ence as not all agen­cies sell off the plan well.

Can they demon­strate their nego­ti­ation skillsSimpsions real estate agent

I recom­mend you to role-play with the real estate agent when you are con­sid­er­ing to hire them. Pre­tend to be a buyer and cre­ate an objec­tion that you think a buyer would nor­mally ask. Test their reac­tion and also get them to explain their strategy.

A good agent doesn’t fly by the seat of his pants, he has a meth­od­ical planned out strategy with every inter­ac­tion and ques­tion that was asked by a buyer.

Com­mu­nic­a­tions (sys­tems and frequency)

The industry has done many tests and sur­veys on what is the biggest prob­lem within real estate. They say it’s com­mu­nic­a­tion, in particular;

  • Lack of communication
  • Takes too long to get back to you
  • Afraid to tell it like it is
  • No sys­tems when it comes to buyer feedback
  • The expect­a­tions of how often the agent will com­mu­nic­ate with you were not set
  • Details were not put in writing

These com­mu­nic­a­tion points can make all the dif­fer­ence when it comes to feel­ing as though the trans­ac­tion is going smoothly and you know what is going on. Make sure your agent ticks all the boxes before you sign an agency agree­ment with them.

 

About 

Jhai is an award win­ning Inter­net Mar­ket­ing Real Estate Agent for Eld­ers Toongab­bie and Kings Langley. After run­ning his own inter­net mar­ket­ing busi­ness he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to mar­ket them­selves online. Jhai is now fixed on one goal. To teach real estate agents that they can mar­ket online so much bet­ter than they cur­rently are.

Since then he has been con­sist­ently quoted in the Sydney Morn­ing Her­ald and Real Estate Busi­ness online. He is a reg­u­lar guest blog­ger on TheHomePage.com.au, shar­ing his expert­ise of mar­ket­ing aspects for the Real Estate Industry. His biggest pas­sions are his wife, mar­tial arts, dogs and most of all property.

seven hills real estate agent NSW
Cnr Federal Road Prospect Highway Seven Hills NSW 2147 Australia