Choosing An Agent

When thinking of selling, the first step and arguably the most important decision you will make is to choose an agent. The infinite choices and “industry talk” may make this decision seem daunting. However by keeping a few simple factors in mind, the decision is easy.

All vendors who put their property on the market know the value of their property. The question is whether they accept that value or whether they are hoping for more. The role of your real estate agent is to present all the facts when pricing a property so that they can both know and manage the expectation of the vendor. This is why it is important not to simply choose the agency estimating the highest selling price. Instead ask for comparable sales in the local area and the analysis of market trends that agent used in developing the estimated price. One of the reasons Frank Gordon has a clearance rate at auction well in excess of the industry is our ability to accurately appraise property and deliver on our expectations.

Frank Gordon manages their clients by presenting the facts, we believe in honesty rather than “fluffing” and we will discuss these facts both verbally, in writing and in weekly face-to-face meetings to ensure our clients are always up to speed. Designated meetings are vital in the upcoming months to auction. As it is important to discuss the feedback we receive from possible buyers. We ensure the vendor is always up to date with feedback on the pros and cons of their property and or price. While we keep a detailed acount of the number of buyer inspections, contracts taken and second agents so that they know how their property is being received by the public.

When comparing agents there are two central factors you must consider:

a. Local reputation – Research conducted by the REIV shows that home sellers prefer estate agents who are well regarded in the local area. This is when speaking with family, friends and neighbors will help to gauge the reputation of different agencies. Here at Frank Gordon, most of the business we receive comes from word of mouth as “Our greatest source of sales is referrals from our clients” (Frank Callaghan, Managing Director).

b. Commission – Sellers should always compare the cost the agent is quoting to sell the property as well as the strategy behind the advertising and marketing campaign. This will help to determine the agent’s professionalism. However you should not consider commission as your only criteria, you should engage with the agent who will gain the best possible result, and this may or may not be the agent offering the lowest commission.

According to Frank Callaghan real estate is not about sales. Real estate is about helping people make decisions. You are providing evidence so that people can make well informed decisions, and the better you are at representing facts and information to people, the better real estate agent you are.