Selling a home is not something you do often in your life, so how do you know what to expect and which agent to choose?
How will you know if you’ve made the right choice? This is the $20,000 question.
Sellers generally use one of two methods to select their agent: They will either pick the agent that quotes the highest selling price and/or charges the lowest commission or they will base their choice on the agent’s marketing and negotiation ability.
The negotiation ability of the agent you select has a huge bearing on the final price you receive. The average gain for having the right agent and their team working for you is $20,000 or more. Many sellers however make the mistake of selecting the agent with the highest price or the lowest fee, without realising that no one knows what the final market price of your home will be.
Astute sellers will select the agent whom they feel will get them the most in their pockets. They realise that while they may save a few dollars in lower commissions, their greatest potential for huge gains lies in the agent’s ability to negotiate a higher selling price for them. But every agent says they are good negotiators, so how do you determine who is and who is not a good negotiator?
Do all agents have the same qualifications? All sales people have similar legal qualifications, these are the basic qualifications needed to practice as a real estate sales person. Sales people however do not have similar negotiation and marketing qualifications. These skills require time, expense and dedication to acquire.
This explains why only a small percentage of real estate sales people achieve great results for their sellers. So please test the agent’s negotiation skills and make sure they are of good character.
Finally since you are entrusting them with your home, do you think it would be wise to ask them for references?