Many people are unsure how to choose a real estate agent when selling their residential property. How do you know who is best for you?
First: Understand what real estate agents are about
First, you need to understand that there are many different types of real estate agents, and agencies. No two real estate companies, or real estate agents, are the same. Through signs you may have seen, ads you may have received in your mailbox, or experiences you have had in the past, thought about different real estate agents and companies. You may have dealt with real estate agents in the past, leaning you to be inclined to work with them as they are familiar face.
Second: Decide what you want in a real estate agent
Different real estate agents operate differently, here are some examples:
• Speed of sale: Many real estate agents are proud to say they sell houses quickly, with some selling homes in as quick as 3 or 4 days. However, rushing into a sale may mean that you never actually get what your home is worth. (Yes, that can literally be the difference by tens of thousands of dollars). Large real estate companies, like some of NZ’s biggest brands, are actually notorious for selling your home as fast as possible, which might sound great, but in reality you are missing out on thousands of dollars. We’ve seen houses that should have sold for $800,000, sell for $650,000. Or as much as $2million, fall short at the $1.5m.
o Note: You might think that real estate agents are going to actually sell for as much as possible, so they get paid more. However that is not quite the case. Because of many of NZ’s ‘big players’ in real estate structure their commission calculations, they encourage agents to sell as fast as possible, rather than for as much as possible.