John McrGrath provided a list of the 15 most important questions to ask of your potential sales agent, its a good list and an excellent guide.
Of the 15 questions, one of the most important in the current market (and subsequently the answer) is what is the approximate time frame/how long is it taking to sell a well priced listing at the moment? Over the last 12 months in the Mosman LGA average days on market has been 104 days, in Woollahra/Paddington, its been 63 days, so days on market are a key measure of an agents ability to perform. In the questions below, you can see he seems to ask the same question twice, this is a good trick question - I think, agents need to be careful how they deal with this, and they certainly don't want to contradict themselves.
What is the approximate time frame? In the current market the agent might answer 45 days, but later...How long is it taking to sell a well priced property at the moment? The answer here, may well determine if the agent gets the listing or not. In this market in particular, a well priced property will sell quicker and a good agent will make sure a buyer who has the capacity to perform in the price range the agent and the client have agreed to sell, transacts as quickly as possible, because there may not be another buyer at that level and a property that sits on the "shelf" too long, gets a reputation and leaves room for buyer speculation - neither of which helps you to sell you the property. Less than 45 days in the current market - generally, would point to the more effective agent. Agents who know values the best and have explained this to their client, will want to deal away from the auction room - in many cases, even if there is more than one buyer using the 'sealed envelope bid' strategy, for example. Price point properties are having more success at auction that is to say, well priced properties up to $1.2 million generally, well set on their block and with good floor plans for example, will sell at auction.
Here's the 15 questions to ask when hiring a real estate agent.
When selling your home, upgrading or downsizing - choosing the best agent to sell your property is the second most important decision in real estate (after choosing the right property to buy).
Of the 15 questions, one of the most important in the current market (and subsequently the answer) is what is the approximate time frame/how long is it taking to sell a well priced listing at the moment? Over the last 12 months in the Mosman LGA average days on market has been 104 days, in Woollahra/Paddington, its been 63 days, so days on market are a key measure of an agents ability to perform. In the questions below, you can see he seems to ask the same question twice, this is a good trick question - I think, agents need to be careful how they deal with this, and they certainly don't want to contradict themselves.
What is the approximate time frame? In the current market the agent might answer 45 days, but later...How long is it taking to sell a well priced property at the moment? The answer here, may well determine if the agent gets the listing or not. In this market in particular, a well priced property will sell quicker and a good agent will make sure a buyer who has the capacity to perform in the price range the agent and the client have agreed to sell, transacts as quickly as possible, because there may not be another buyer at that level and a property that sits on the "shelf" too long, gets a reputation and leaves room for buyer speculation - neither of which helps you to sell you the property. Less than 45 days in the current market - generally, would point to the more effective agent. Agents who know values the best and have explained this to their client, will want to deal away from the auction room - in many cases, even if there is more than one buyer using the 'sealed envelope bid' strategy, for example. Price point properties are having more success at auction that is to say, well priced properties up to $1.2 million generally, well set on their block and with good floor plans for example, will sell at auction.
Here's the 15 questions to ask when hiring a real estate agent.
When selling your home, upgrading or downsizing - choosing the best agent to sell your property is the second most important decision in real estate (after choosing the right property to buy).
But from his experience many people are too casual in their approach to this crucial decision. They ring a couple of agents and choose the one who gives them the highest valuation or has the lowest commission. Create a series of questions that you want to ask agents, and interview a few as if you’re considering them for a job.
15 QUESTIONS TO ASK WHEN HIRING A REAL ESTATE AGENT
- What do you think my property is worth? How have you come up with that figure?
- How does my house present? What can I do to maximise the sale price?
- What’s the best method for selling my property? Auction or private treaty? Why?
- What’s an approximate time frame?
- What’s it going to cost me?
- Why should I hire you?
- How long have you been working in this area?
- What comparable homes have you sold in this area lately?
- What’s the state of the market?
- How long is it taking you to sell well priced listings at the moment?
- What marketing strategy do you suggest? Why?
- How much will be spent on marketing? Why?
- How much traffic does your website get?
- What will you do to introduce buyers to my property?
- Do you have a list of recent vendors I can speak to?
If anybody want to choose a good agent for property deal then above information be a very useful for right selection. Get right agent from above information who can suggest right way in your property matters which beneficial and worthy.
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I agreed that consulting or selecting a real estate agent will help you see what the best course of action is for your property.
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