Things to ask your real estate agent when selling

Whether you are planning to sell your home or invest in one, choosing the right Real Estate Agent to guide you through the process is an important decision. With so many Realtors out there and the current market boom, choosing the right Realtor can make all the difference. If you have found yourself ponding on who to pick, the key is to know all the right questions to ask.

How long have they been in Real Estate?

Owning a home is most likely the biggest asset you will have in your life, so choosing the right agent with the experience and knowledge of the property market is crucial. A great agent should be able to market your property at the right price and be great at negotiating for the maximum sale price of your home. The more experience an agent has the more they will know, whether that be finding the best target audience for your property or obtaining the knowledge on how to market your home for the best outcome. Good realtors should show great communication skills and have the confidence in their work to put your mind at ease through the entire process.

What are the selling features to my home?

A knowledgeable Realtor should be able to point out assets of your home within first viewing it. They should be able to list of some of the more Technical / descriptive words such as bifold double glazed doors, or pocket sliding doors. Another trait to look for is knowledge of when properties are built, it is a federation period home or even just the knowledge of the construction type such as brick and tile home.  You want an agent who will point these features out to potential buyers and not only that you want them to recognise the home for what it is. 

Have they sold any similar properties?

All Real Estate agents should keep a portfolio of properties they have sold in the past. Ask your prospective agent to give you the details of their most recent sales, what they were listed at, what they sold for, and how long the property was on the market. Another great way to see how well they work is by asking them to provide customer testimonials, which is former customers giving the agents honest reviews of how they thought the whole process went. You can also source this information yourself by looking at sites such as rate my agent or google reviews. Finding an agent that has sold properties in the same area and has the reviews from happy vendors to prove it, is a great sign that the agent can maximise the sale of your home.

Do They work alone or as part of a team?

Finding out whether your sales agent works as part of a team or solo can make a great difference to the sale of your property. If your realtor is working as a part of a team then you might not always deal with the agent, you choose to go with. Some sales agents have assistants and extra staff doing work behind the scenes. If you call to ask a question, the agent you're familiar with might not be available or the one who speaks with you, in addition you want to be sure that the person that shows the property to prospective buyers is the agent you selected. Also ask if the agent works with other agencies to encourage other agency's to bring buyers through.

What’s included in their fees?

When you decide to sell your home it is important to find out exactly how much the whole process will cost, and not simply settle for the first quote an agent provides. Most agencies will charge an advertising fee and then there will also be a commission fee that you will need to pay the agents for their hard work. The commission fee in most companies depends on what the final sale price of the home is, keeping in mind this percentage varies with each agent. For an example of what’s involved in selling fees at Umbrella Realty Team, we offer a competitive 2.99% commission fee (Instead of the usual 5% and over!) and a standard $999 advertising fee. Within this budget we advertise your property on various Real Estate sites such as domain and real estate.com.au, we also make informative flyers and brochures, promote it over social media websites, get professional photos taken including drone pictures and floor plans, host home opens and provide the for-sale sign at the front of your home. Finding out what your money will be going towards will give you a great indication of how the agent will be marketing your home. Keep in mind that different agency standard advertising fees may not include all I have listed above which is why it is such an important question to ask.

What should the asking price be?

After the Sales agent has appraised your property and done their research, they should have an idea of what the asking price should be. Once they have given you their estimate make sure you get evidence of their conclusion by asking them to show you how they came to that price. They should be able to show why they’ve made this estimate, based on comparable data. Most agents will do this by generating CMA (Comparative market analysis) Which is an estimate of a home's value used to help sellers set listing prices. It also shows what similar properties in the same area have sold for and any market trends and changes that have occurred.

Selling your home is a big decision and can sometimes be stressful. When starting the process, make sure you ask all the right questions, in order to find the right agent who will make the process smooth sailing for you. If you are thinking of selling, head over to our page here, and book in for your free property appraisal today.