How To Find Out Who Is The Best Agent In Your Area — Part 2
Makes suggestions on quick and easy things to do to get a better price
For many reasons real estate agent’s don’t normally renovate for profit but they surely do know what will increase value of a property. It just comes down to you not to overcapitalise on the improvements. If you can do this and take on suggestions from real estate agent’s without skipping on the workmanship you can do very well.
Believe it or not small things like cleaning windows, basic gardening/cleaning up and a fresh coat of neutral modern colours can add $4 to every $1 you put in when it comes to selling. A good agent will also tell you what will not add value, and this can save you a lot of time and money. As for an inexperienced agent would probably be wishy-washy and is not to give you specific things.
Not afraid to tell it like it is
This can make all the difference, as you may not like what they have to say but I can surely save you a lot of time on money for example;
Let’s say interest rates are up and the market is down. You have listed your property on a good price according to previous sales around your area. Let’s say as you list the property on the market another interest rate rise has hit and the buyer feedback hasn’t come back as you would like.
You’ve lived in your property for 20 years and you brought up children in the home. You have fond memories of living in the area and you think it’s a great place to live. All the buyers that come through your property give you critical feedback compared to what’s on the market right now. You receive no offers and the market is approximately going down $10,000 a month.
An inexperienced agent that doesn’t know what to say in this market will be too afraid to say anything and continue to leave your property on that higher price and just hope that someone comes in that gets emotionally attached to your home. Your home sits on the market for three months and now is worth $30,000 less.
A good agent will know the right things to say and pass on the feedback. Let you know how quickly the market is going down. He will advise you to market your property more aggressively to get a better price sooner. You may have lost $10,000 as the market is trending downwards but it’s better than $30,000 as in the previous example.
Good agents have experienced the ups and downs in the property market and know how to candidly talk to home sellers to help them get the best result in the market they find themselves in. We call it chasing the market and you’ll start to see this as a common occurrence as interest rates go up.
Good reviews on Google
The most accurate reviews in the real estate industry I found on google itself. There are a lot of websites out there that have Real estate agent reviews but a lot of them can be controlled by the agent. Google audits it’s reviews and has an algorithm to prevent people from tampering with reviews.
The algorithm will even find out how reliable the review is and remove reviews that square results. They do this so that reviews can be used in their search algorithm when you’re looking for the “best real estate agent” in the area for example.
I also recommend to call the people that the agent has giving you as a testimonial and have a candid conversation with them. Yes it can be confronting but doing your homework should help you decide who you think is the best real estate agent.
Do they adhere to good property marketing principles?
- They should put you in a database and you should receive different types of communication from them.
- Social media marketing (is it professionally managed or is it abandoned, with listings spammed all over it). Most agents give up after 6 months and default to posting listings because they can’t be bothered.
- An easy to navigate website is a mark of any good business.
- Do they do video marketing on YouTube with regular updates.
- Photos (do they look good or bad?). I see some bad agents take photos with their phone and use them on advertising. This is a big no no.
Contacts to help keep the sale together
It is rare that a property sale will have no hurdles, and a good agent has built a team around him to help keep the most trickiest of sales together. The team consists of;
- Mortgage broker
- Financial planner
- Pest inspector
- Building inspector
- Property manager
For example in our office we have been through many of these people and over time we have built relationships with them. As we cannot accept commissions from them but having a good relationship with them will help us get a transaction through that may seem impossible in the timeframe.
Because real estate agent’s can help you make 10% all lose you 10% it is very important to look for these characteristics. If you find an agent that ticks all the boxes hold onto them and build a relationship with them. You never know when you may need a question answered and with so much at stake you need to know it’s reliable advice.
About Jhai Mitchell
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.