Selecting an agent to sell your property requires careful consideration. Making the correct choice is important in reducing stress and achieving the maximum return.
The REIV’s advice to vendors is that there are two aspects of choosing an agent that should be given particular focus.
Not surprisingly the most important factor is the local reputation of the agent. Research commissioned by the REIV shows that home sellers prefer agents that are well regarded in the local area.
Speaking with family, friends and neighbours provides you with information on the experience they have had with agents. Seeking advice from people you trust is an important source of information and can be just as valuable as an agencies advertising and their website.
The other important factor in choosing an agent is a comparison based on a range of different aspects that are part of the selling process. Vendors shopping around for an agent should look at the cost the agent is quoting to sell the property, the strategy behind the advertising and marketing campaign and the agent’s professionalism.
Whilst comparing fees of competing agents is important it should not be the only criteria. You seek to engage an agent that will be able to gain for you the best possible price and this may not necessarily be the agent that provides you with the lowest quote for their services.
You should also not necessarily choose the agent who provides you the highest estimated selling price for your property. You should ask for the comparable sales in the local area and the analysis of market trends that the agent used when they developed their estimated selling price.
Finally, the quality of an agent is directly linked to their education, training and access to market data. REIV Members undertake continuing professional development to maintain their membership and have access to Victoria’s most comprehensive array of market data. This ensures REIV Member agents keep up to date with changes to regulation, industry practices, market trends and maintain ethical standards.