Buying or selling a property can be a major decision in your life. Most people buy properties on mortgage and pay their loan over the next 15 – 30 years. The loan amount is often calculated based on the value of the property. This is why it is important to get an experienced real estate agent who finds you a good property and negotiates its value to as low as possible.
Similarly, when you are selling your property, a good real estate agent will make sure that it is presentable to potential buyers, adequately advertised and listed at a reasonable market rate.
We would like to share 5 tips that can be helpful when you are looking to hire a real estate agent for buying or selling properties in Sydney.
Just as many other professionals have their licensing requirements, the same is true for real estate agents. When hiring an agent, make sure that they are qualified and accredited with the NSW government. A licensed agent will have the necessary skills and training required to find and market a good property for you.
There are also a number of real estate awarding bodies like REINSW and REB. These groups award high performing real estate agents who have delivered exceptional results for their clients.
If you hire an agent that is recognized for his or her achievements in the industry through awards, you can be sure you are in good hands. These agents are slightly more expensive to hire, but they are capable of getting you a return during the negotiation process.
In the real estate industry, there is no substitute for experience. If you have the option, go for someone with more experience and successfully closed deals in their name than someone new or less experienced.
This is not to say that junior associates are not good. They are usually more enthusiastic and try very hard to get a good bargain. However, agents who don’t have much experience simply haven’t built the network and resources in the market. They will struggle to find the perfect property for you or fail to catch defects that more experienced agents will easily find. They also won’t be very good at negotiating on your behalf.
Real estate agents with experience in the industry, or those who are new but closed plenty of deals can get you a better deal whether you are looking to buy or sell a property.
Laing+Simmon Real Estate work with experienced real estate agents that have decades of experience in the industry and hundreds of completed deals. You can count on us to connect you with the right real estate agent that meets your needs.
Satisfied clients will be happy to praise the agent and tell you if they got a good bargain. Clients who are not happy will be even more enthusiastic to tell you why they are not happy.
If you are looking to hire an agent, ask him or her to provide you with a list of their previous clients with contact information. Some common questions to ask these clients are, “What price were you asking and how much was the final selling price?” or “How long did it take for the agent to sell your property”.
It is important that you work well with an agent in order to sell your property or buy the property that is right for you. Usually you will be able to tell if there is a good match in the first meeting. Does the agent listen to you? Do they ask questions about your needs? Do they offer insights about the market instead of just agreeing along so that you hire them?
You should work with someone who listens to your requirements and takes them into account when searching for properties or advertising on your behalf. However, you should also be willing to listen to them and take their advice. Many Real Estate Agents have spent years and decades in the market and they understand what will get your property sold and at what price.
If you are serious about selling your property or buying a new one, you would want to work with an agent who is actively advertising your property or searching for a property for you. The agent should regularly communicate with you on his or her progress.
You should be able to feel comfortable talking to your agent. If at any stage, you feel that you are being ignored or that they are not paying attention to your needs, you should not hesitate to let them know, in a polite manner ofcourse.