Choosing the right real estate agent and why it matters
Choosing a real estate Agent
Choosing an agent can be one of the most important steps in your home sale process. Taking the time to make the decision this process less confusing, more efficient and can lead to a better outcome.
Ultimately, the choice can boil down to just a few factors;
- Do you want to go for the experienced, and often most expensive agent in your neighborhood?
- Do you believe your property can sell just fine shopping around purely for the cheapest commission?
- Would your property benefit from an agent with a point of difference or specialty like apartments, lifestyle blocks or batches?
Once you have been able to categorise your property, then it’s quick to assess what agents are available narrow them down by their experience, professionalism, advertising ability, costs and overall effectiveness.
Start wide and narrow the list
A quick search will reveal a large number of agents who operate in your suburb, town and city. Your first task is to narrow the list to a manageable size by thinking about which agents you would most like to represent your property and why.
Aframe have been able shortcut this process significantly by having agents come to you. The short listing process can take a lot of time and effort with research and hunting through listings to get a better idea of how an agent performs against key metrics. By simply entering in basic details on Aframe.co.nz, you can have detailed quotes, including fees and commissions in your inbox within a few short days.
Once you have your list short list you can then move on to reviewing the best agent for your property.
Review the agents commission structure
It’s important to understand what the sale of your home will cost you. Don’t always be put off by high commissions as a good can make you your money back quickly. At the same time though, there are plenty of high price agents who can’t add value and it can be very hard to prove how additional costs pay off. So weigh up all the available evidence before making any decision.
Be aware of where your property sits within the market and find the real estate agent who can get the best deal for your home, at the right price. Does your property sit within the top 10% of property values in your area? If so, it can be well worth it to select an experienced agent who has the right contacts and market insight. Conversely, if your property is at the lower end of the price scale, any increase in value that an agent might bring could be less significant and therefore not worth adding costs to the equation.
Your risk of high commission fees can often be mitigated through commission structure. If an agent’s commission incentivises them to get you an extra few thousand dollars for your home, that may be the incentive needed to chase down those additional leads and get more offers. While fixed rate or flat commission structures give you clarity on your expenses, they can leave little incentive for an agent to get the absolute best price for your home. A great sign that an agent is motivated to get the best outcome for you is to see a tiered commission structure that rises with a higher price.
Talk to agents that offer both a flat rate and a percentage-based commission. Each house and situation are different, and you should consider all your options. If you are set on a particular commission structure, ask your agent what they can do. You might be surprised by the variety of different options that exist.
Research your agent
Does your agent have a presence in your area? Do they have a good reputation? When you talk to your agent are they able to provide evidence of recent sales and client testimonials? Do they seem knowledgeable about your area and have a clear strategy to sell your home quickly and for the best price possible? Can they give you tips about how best to prepare your home for sale?
Putting in even a small amount of research can pay off. Most often a quick google search will give you a good idea of the agents history and reputation. Search for recent listings, sale prices, rankings and other great facts that will help you make a decision on an agent. Check out the Real Estate Agents profile on their New Zealand website and other ratings platforms like Google. You are trusting your agent to sell your home so doing research on your agent is well worth your time.
Visit open homes in your area
You can get an idea of if you like an agent by visiting open homes in your area. Get a feel for how they conduct an open home. The care and diligence they show will give you a good representation of how they will present your home. Did they reach out to you by phone, email or text message? These are often good signs that a real estate agent will take similar care with your home.
Did the agent make good use of home staging? Was the open home a friendly and welcoming environment? How many people attended? Did you get a good vibe? Go into an open home your potential agent is showing with an open mind and be analytical in your approach.
Be aware of the property market in general – do your homework
Do your market research. Have an objective idea of the value of your home and the best time and method to sell. Think hard about what your home is truly worth on the market and be realistic. Look at recent sales on your street and in your neighbourhood. Why did houses sell above or below what you might have expected? Once armed with this information, you can ask informed questions to your agent and gain insight into why they feel their strategy and is the best, why their suggested price has been presented and what price you can reasonably expect to get.
When your agent presents you with a valuation, you can now ask why they believe in that price. What factors went into that decision. Getting the valuation is then leads into the pricing strategy, marketing strategy and ultimately how you attract the best buyers.
Check your real estate agent is registered
Use the REA registry of agents to check that yours is registered here: https://portal.reaa.govt.nz/public/register-search/
It’s important to use a registered agent as they are held accountable by the REA and must meet their obligations under that ‘Real Estate Agents Act 2008’. Additionally, you can also take up any matters with the Real Estate Authority (REA). This could become very important should anything go wrong with your sale and should give some confidence going into signing your agent agreement. You can also use the agent registry to check if an agent has had any disciplinary action taken against them.
Aframe only allows registered and verified Real Estate Agents to use the service to give you an extra level of comfort.
Aframe makes choosing an agent easy!
Choosing an agent can be one of the most important steps in you home sale process. By using Aframe, this can be made easy. You can receive no obligation quotes and only give your personal info when you want. Compare the commission and fees of specialist agents in your area to find the right agent. Chat with agents on your terms then choose the quote that works best for you.
Register now at aframe.co.nz