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Selling home? Before giving the keys to an agent do your homework

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Selling home Before giving the keys to an agent do your homework
Posted 29 April 2021

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

In one hour, you will hand over your house keys 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 or be screened for what they are really looking to buy.
  • A couple of days later, unless I have an offer, I will call you.

At Next Address, we challenge this approach and want you to know why.

If you haven't the luxury of moving out before you sell, then selling is stressful. Let's explore what happens and the options you have when you sell.

Customer service and satisfaction are vital to a positive experience.

Most people only sell a home, on average, every seven years. For some, it's even longer. 

  • So do your research and interview at least 3 agents.  Fully explore all the smart online alternative now available to you.
  • Customer service and satisfaction need to be at the forefront of any decision you make as this is a significant relationship for the next 3 months of your life.  

Also, don't fall into the trap of looking at industry review sites.  Often agents only ask happy customers to complete reviews.

Recommendation

Use google and word of mouth sites to do your research.  Also, ask work colleagues and associates about their experiences and recommendations. 

Open houses

At Next Address, we believe one on one inspections are far more valuable as you can ascertain if the buyer is interested.

  • They required the agent to fully screen buyers before they inspect. 
  • We believe this saves time for all.

Additionally, with great marketing visuals, including virtual tours, prospective buyers can essentially screen themselves.

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

Recommendation

Ask your agent to fully screen all buyers with a pre phone call or email. Ask for a written report after all inspections of all interest.

So, Why do estate agents use open home events?

There are a couple of reasons; 

  1. They make it easier for the agent as they only have to come to your house once or twice a week.
  2. More importantly for them, an open house event provides the estate agent access to a group of people who may be considering selling a home. 

These buyers are potential customers for them, not your house.

Significant financial decisions

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. 

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 and advertising costs. 

Not only does choosing the wrong agent mean you may not get the right results, choosing a traditional agent can cost you anything from $10,000 and up to $30,000.  

Recommendation

Download our Golden Rules to Selling in 2021 to be fully informed about the industry and how it works.  Click here to download.

90% of buyer use online services

Take a good look at how 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. 

Recommendation

90%+ buyers are online. Choose a service offering integrated packages which include 3D Virtual Tours as standard.  These are now so affordable, and most buyers find these very helpful when reviewing properties online.

Preparing your home is the hardest part of the process.

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. 

Choose a service that provides additional support and advice. There are so many great resources out there to help you get this part right. We have a great ebook on styling, which we share with our customers.  

Recommendation

Book a call with us, and we will send you this great resource for free.  Click here to chat with our Founder Julie. 

Setting the Value

The next step is to get the right price, manage the inspections, and enter the negotiation process.  

  • Agents are not qualified to provide a value- just an estimate. 
  • They are there to sell your home.

Next Address works with one of Australia's largest valuation companies to ensure you get the right information on your home's potential worth.

Recommendation

Get at least 3 agent value estimates and seriously consider paying for a registered valuer. 

Transparency and control 

When selling your home, you want to experience control and transparency. When choosing how and with who to sell, consider if this is what you want and expect. 

Final Recommendation

Think very carefully before you list with an agent. Do your research and interview at least three agents. Read our blogs. We know this is your most significant decision, and we want to help you get it right. 

Next Address has a bank of tips and advice ready for you to use.

Recommendation

If you are looking for a fresh approach to selling your home, then consider a chat with Next Address Founder and CEO to see if this service may be right for you.

Click here to chat with our Founder Julie 

Updated 18/04/21

 

 

Comments

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Leviticus Bennett
on 26th November, 2019
Wow, I hadn't realized that 85% of home buyers find the home they want online. I'd imagine it can be useful to hire a property solicitor if you're going to sell your home. But like you said, you need to find the right one. http://www.warlandsolicitors.com.au/areas-of-practice/conveyancing-property-law/

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