What You Need to Know Before Selecting a Real Estate Agent

How to select an Agent

1. Like anything else, shop around.


2. Go to open homes, and watch the agent in action.


3. Interview at least 3 agents.


4. Select an agent who has good knowledge of your area.


5. Choose an agent who listens to your needs & one you can trust.


6. Search on the internet and look at the agent's article and photos on their listings, as this is the person who is going to be representing your home. If their work is slap dash, then you can expect the same!


7. Look for an agent, who can negotiate, it's their negotiating skills that will get you the best deal!


8. Understand the difference between a pushy agent and one who knows how to sell.

Questions you should ask the Agent:-

1) How many listings do you have?:-

If an agent has too many listing, you may find that they won't be giving your property the attention it deserves.

2) Do you have any referral letters from past clients:-

It is always good to see the comments of past clients; remember the agent is a stranger that you will be giving your most expensive asset for sale. If you are able to get contact numbers to speak to past clients, this would be great.

3) What are your fees and commission structure?:-

It is always good to find this out, as some agents will negotiate their fees. Bear in mind that the cheapest agent may not be the best agent!

4) How are you going to sell my home?:-

All good agents should be able to provide you with a marketing plan of at least 4 weeks; this should also include a weekly report as to what events have taken place.

5) Who pays for advertising?:-

Remember this is your home... some agents may offer to pay. Consider before accepting, is it in your best interest! Once an agent pays, they now have an invested interest in your property. They do not need any incentives; they have the commission as one.

What kind of listing should I have?

1) Open Listing also known as Multi Listing:

Pros:

· More commission for the selling agent, which does not affect the vendor.

Cons:

· Security - If you are handing out keys to your property.

· Agents give less attention.

· Multiple signage - makes the vendor look desperate

· Top agents will not list

It's a myth that the more agents you have the more buyers! All agents have the same buyers.

2) FSBO - For Sale by Owner

Pros:

· No agent commission fees

Cons:

· Likely to get less money...

· Less inspections

· Lack of negotiating skills

3) Exclusive Listing

Pros:

· Likely to get more for the sale

· Quicker sale

· Dealing with one agent rather than four

· More attention

If you opt for an exclusive listing, make sure that the agent is prepared to conjunct with other agencies. Any agent that is not prepared to conjunct with outside agencies is not working in your best interest

Cons:

· Locked into an agreement, with one agent who may not be working very well.

It is important for you to do your research when selecting an agent. If you are not happy with your agent and want to terminate your agreement, you should put your request in writing to the office principal. If an agent has not fulfilled their duties you have every right to terminate.

Anne Harris of Jamaica Property Finder, a former licenced Real Estate Agent in Qld, Australia. With extensive experience in several fields is an entrepreneur with a vision of revolutionising the Jamaican real estate market through the creation of an interactive platform for consolidating property listings in the country.

http://jamaicapropertyfinder.com

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