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Do your homework before giving the house keys to an agent

Do your homework before giving the house keys to an agent
Posted 20 January 2019

This is one of your significant life decisions- let's get it right.

In one hour you will hand over the keys to your home to me. Twice a week, I will bring a group of total strangers into your home. You and I have never met these people, and they will wander around your property. Most will not have had security checks.

This is one of your most significant life decisions- let's get it right.

In one hour you will hand over the keys to your home to me. Twice a week, I will bring a group of total strangers into your home. You and I have never met these people, and they will wander around your house. Most will not have had security checks.

Open houses

1. These people will wander around your home and garden, open your cupboards and check out your tool shed. Think about it, would you give your doctor, tennis mates or work colleagues your house keys? Probably not. But this is what you are doing when you list your home with any real estate agency. 

Many do not 'screen buyers before inspections. At many open homes, buyers do not pre-register ', and some buyers provide false phone numbers. 

So why do estate agents do open homes?  

There are a couple of reasons; they make it easier for the agent as they only have to come to your house once a week, and more importantly they provide the estate agent access to a group of people who may be considering selling a home. So are holding open houses the best way to sell a home?

Significant financial decisions

2. 'Our homes are our castles' and at Next Address, we believe people do not take enough care in choosing who will sell their castle or how to sell. With so many great alternatives choices from off-market and peer to peer platforms, the power is now in your hands. As well, there are now fabulous property advocacy services for both buyers and sellers who are focussed on providing you with personalised professional service and are usually a set fee structure. 

Selling your home is one of the most significant financial decisions you will ever make. Agency commissions and fees range anywhere from 1.75% to 2.75% of the sale price plus the advertising costs. Not only does choosing the wrong agent to mean you may not get the right results, choosing a traditional agent can cost you anything from $10,000 and up to $30,000.

Customer service and satisfaction are not the key drivers.

3. Most people only sell a home, on average, every seven years, for some it's even longer. So do your research, think carefully and don't follow the hype. Ever seen a real estate agent's Facebook page? It's full of pictures of winning awards for the number of sales and how much revenue they brought into the office. Customer service and satisfaction are often not their key drivers. The industry does not award agents for "I sold all the houses I listed for the prices I correctly listed them for" or for '100% Customer Satisfaction.'

90% of buyer use online services

4. Task a good look at the way the estate agency promotes and markets properties before you make a decision. Unfortunately, we often see an advertising campaign designed to market the agency first and your home second. These campaigns are a significant waste of money, as over 85% of buyers find the home they want online. Newspaper ads and magazines are fillers. Don't fall into the trap of agreeing to market your home extensively in print. You can waste anywhere from $2,000 to $20,000 depending on the suburb and home. 

Look to a service which offers the latest property marketing opportunities such as 3D Virtual tours.  These are now so affordable and most buyers find these very helpful when reviewing properties online.

You are the one who knows your home the best.

5. You are the one who will prepare the home for sale. And this is the most time-consuming part. Fixing up the garden, repainting where necessary, styling the home beautifully etc. There are so many great resources out there to help you get this part right. 

The next step is to get the right price, manage the inspections and enter into the negotiation process. All these tools plus more are part of the Next Address bank of tips ready for you to use when you decide to sell your home online. Next Address works with one of Australias largest valuation company to ensure you get the right information on your homes potential worth.

You can negotiate the sale- support is there.

6. Every day of our lives we communicate and negotiate, so why do we think these skills leave us when we are selling our most significant asset? The truth is, they don't. It is also true that many real estate agents do not have extensive training in negotiating successfully. This is your home; you know all its features, the changes and upgrades made since you purchased it. You know the answers to all the questions a buyer may ask. So you are the best person to negotiate the sale of your home. With our advocacy service and network support are just a phone call away.

Enjoy full control 

7. Selling your home without a real estate agent puts you in control. You know who is coming, you have their contact details. Online DIY portals such as Next Address have verification process we suggest you use. The best part is you can follow them up and know if they are interested. No more hanging around waiting for the agent to ring with feedback.

100 plus listings- not just yours

8. Your home is your castle; you know it the best. You know everything from when the blinds were repaired to how long ago the heater was installed. It is unrealistic to think an agent will remember all these details when their office could be managing 100 additional listings, and yours is just one. You may think you don't have the time. 

But you have spent the whole morning cleaning the house, tidying the kids' playroom, mowing the lawns, now for 30 minutes you will leave your house for someone else to stand at the door and take names and phone numbers. This agent then locks up your home and heads off to their next open house. You now sit around and wait to know how many people came through and if any were interested. If you were present, you would know the answer to this and may even know if there was a keen buyer.

Choosing to sell a property is a significant decision.

So, think very carefully before you list with an agent. Do your research. Read our blogs. We know this is your most significant decision and we want to help you get it right. 

If you decide to use a service such as Next Address, Australia's first peer to peer real estate platform, as part of your marketing, you will know our buyers are matched to your home. You will be in complete control. 

Click here to register now!

5 Real estate tactics you need to know

Updated 20/01/2019

 

 

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