6 tips for selecting a real estate agent.
A real estate agent is more than just a fancy suit and a leased BMW. A good agent is a property valuer, negotiator, contract administrator, marketing expert and a skilled communicator all while managing the buyer, the seller and possibly the tenant through a huge financial transaction.
Choose wisely.
1) Interview a minimum of 4 local agents (it’s free). Gather their professional opinions on a list of topics including: Recommended list price (if any), target price, auction vs private treaty, ways to improve presentation prior to marketing, furnished/ unfurnished, marketing budget etc. If an agent is not the successful choice, be polite, let them know straight away, don’t burn a bridge. They’ve heard no before.
2) Choose a local agent – an agent who is coming across town in peak hour for a private inspection may not be as motivated as the one down the street nor understand the local market. A good local agent will have a database of buyers looking in the area.
3) Choose an apartment specialist. The No.1 local agent may not be the best choice as your $300k 1 bedder is probably not the highest priority against that multi-million dollar river front mansion.
4) Who is selling apartments in your building? You need to talk to that agent as they would likely have a list of people who “missed out”. This could be a great opportunity for a quick off market transaction while saving on advertising costs, upset tenants and strangers walking through. Win-win!
5) Experience sells property. (Sorry to the new players). Watching an experienced agent juggle and weed out the genuine buyers, tire kickers, 1st timers and know-it-alls can be entertaining and educational. Then the negotiations begin - a skill which can take years to master.
6) How many in their team? A one-man band probably could handle all the above tasks however if they have a few listings on the go, some phone calls may go unanswered. A successful campaign from start to finish requires a team usually comprising an assistant agent, contract administrator, office assistant (notices and keys) and the face of the campaign themselves.
How can Apartment Consulting help you?
We are experts in all apartments from studios to penthouses, off the plan to heritage listed. We analyse and present the facts and details which can impact the long-term performance of your Brisbane apartment investment. We offer a range of pre-purchase consumer reports for all budgets that will give you a better understanding of your next apartment investment. Speak to us today.