Find the right agent for a tough market
This two-part series offers you advice on choosing an agent who can handle the current market.
It is harder to sell a home in a softer property market which means the agent you choose should have the skills to get results.
More than 2500 agents recently attended the Australasian Real Estate Conference, including a number from Cairns, and were told about how they needed to behave to do the best for vendors when sales are slow.
The flipside is advice for consumers on how to look for agents ready for the current market. This is what you should look for.
1. Find an agent you have already heard about. Your agent should be visible in the marketplace and in your community and be known as a local expert running a successful business. Landmark agencies usually have marketing programs in place to attract the most buyers in quieter markets. Go with an agent who has successful experience of selling in quieter markets.
2. Go with an agent you genuinely like. Your agent should make an effort to get to know you, understand your values and what you need to achieve from the sale in terms of price and timing and what it means for your life and your family – not just get you signed up and do a hard sell.
3. Marketing is key in quiet markets. There are no longer plenty of buyers out there so your agent has to have strong skills and work hard to get you a result. Watch out for agents who say you can get a top result by cutting back on your marketing spend. In a quiet market you need to attract every person who is vaguely interested in your home and that includes passive marketing such as newspaper advertising and online campaigns.
4. Go with an agent who has a good track record of pricing accurately. Check out their track record, looking at what they have sold, how long it was on the market and what they quoted it at. Even a small mismatch on the price can mean your house stays longer on the market than you would like.
Make sure the agent has access to quality data from a reputable source and can explain how they arrived at your price. Use online tools to check out similar homes to yours to get a feel for what is realistic before your agent presents it to the market.
• Kylie Davis is the News Limited national real estate editor
Part 2 runs next week.
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Track record: An agentís ability to price accurately is key, especially in a softer market.