– with iThink Property
Your property is your biggest asset, so choosing a real estate agency shouldn’t be taken lightly. Once upon a time, it was a no brainer, there were a few big names in the industry and you pretty much chose the one with the most signs up in your area. Those days are long gone, with the progression of technology-independent and smaller brands are now able to compete on the same scale as the larger agencies. This is great for these boutique agencies, but it makes your job of selecting someone to deal with your biggest asset even more challenging and important than ever.
Now there are more agencies, weighing up what is best for you and your circumstances is more important. Unless we walk in your shoes we will never know the answer to this for you, but here are a few tips for consideration when choosing your next agency.
How to Choose Your Next Real Estate Agent
1) Compare Fees
By all means, compare fees, but the cheapest doesn’t always mean the best. Cheaper fees may also result in a poorer service which ultimately means less time achieving a premium price. Cheaper fee-paying agencies traditionally work on a quantity, not quality mentality and tend to carry a lot of listings when it comes to selling. This can mean their time is spread thin across several different properties. When it comes to rentals, customer service is usually the casualty of a cheap fee agency, this may mean they pay their team smaller wages, which will be reflected in the quality of work they do. Due to this, there is every chance that it will translate to poorer service, you really do get what you pay for in property management.
2) Read Reviews
Times have definitely changed and we rarely dine or stay anywhere when we travel now without reading a review. Well, real estate is no different. There are several real estate agent comparison websites now, but be careful though some agencies actually do pay for placement on these sites. Other places include Google Reviews, Realestate.com.au and the company’s own testimonial or review pages are also worth investigating.
3) Do They Do Things Differently?
Times have changed, generations are different and it is definitely time real estate agencies changed as well. It is no longer a case of putting up a sign at a property and waiting for the phone to ring. The key to successfully selling or renting your property is price, presentation, and people. In order to achieve this a real estate agent needs to think outside the square, be innovative in their use of technology and business systems and ensure their customer service is second to none. Some suggestions to look into, does your agency use social media to promote properties and their business, do they use videos or drone footage, are they using electronic signature platforms for administration and is their a customer service strategy so you ultimately get what you are paying for?
4) Are They Local?
Working with a local agent whether it is for selling or renting your property is always advised. They know the local market, they know what is happening in the area, if new developments are coming, if local schools are popular. When it comes to rentals a local agent is likely to have rented numerous properties in the area, so they will know what properties are actually renting for not what they are being advertised for, there is often a big difference in these prices.
5) Interview Real Estate Agents
Meet with different real estate agents, whether it is for your investment or family home, gauge how genuine they are and if they are willing to work with you to achieve your desired outcome. You can request a market appraisal this is free and no obligations and is a really good way to determine the right person for the job. Have a list of questions ready to go, but be open to suggestions and advice from the agent if for example their method of sale is different from what you were wanting or the price is not what you expected either. A good real estate agent will have ample case studies and information to share and support their recommendations.