Choosing
A GUIDE TO
the right Sales Agent for you.
Supporting your most valuable asset with the right Agent
Selling your home is a significant life event and as such, far too important to risk without the right support. Skilled real estate agents, as ours are at Neller Real Estate, will draw on their years of experience; vast database of contacts and expert negotiation skills to ensure your sales result far outweighs commission paid, while guiding you through the legal and financial nuances involved to ensure a stress free settlement.
For what can be the most significant financial transaction of your life, choosing the right Sales Agent for you is an important decision. Let us talk you though some of the aspects you may like to consider when finding the right Sales Agent to partner with to sell your home.
BEGIN WITH RESEARCH
A simple place to begin is by visiting local open homes to see Agents in action, which will help you uncover a sense of how they operate. Comparing their recent sales via their websites and other online platforms will also help you to evaluate whether they have a solid track record of successfully selling properties similar to yours.
THINK LOCAL
In this era, the property market is nuanced with prices and trends differing from suburb to suburb, street to street and even property to property. Choosing a Sales Agent with a high level local knowledge and experience in your particular area will enable you to leverage important snippets of data and enhance your overall result.
GET COMFORTABLE
Because you’ll be in a close working relationship with your Sales Agent until your home sells and settles, make sure you’re comfortable with them on a personal level and that you are confident that your Agent will take the time to listen to you and communicate effectively. This is a key sign of a diligent, high quality Agent.
Above, left: Joel Nicholls; Neller Real Estate Sales Agent and local of Peregian Beach
Questions to ask
When meeting with potential Agents, helpful questions to ask include:
“ Which properties at have you sold close by recently?”
This should reveal how entrenched they are in the local property market, as well as their ability to sell.
“ Who do you think my property will appeal to?”
Well prepared, quality Sales Agents always have a target audience in mind.
“ How will you market my property?”
There are many ways to sell a home. But which one is best for your property and the current market?
“ What fees will you charge?”
Most Sales Agents make their income from commission, expressed as a percentage of the sale price. They’ll also charge other fees including marketing fees, to cover the cost of advertising your home.
“How many people are in your support team?”
High quality Agents with support staff are better placed to properly fulfill their obligations to you as a client and provide you with the highest possible care and attention.
“ Why are you the best Agent for the job?” Don’t be afraid to be direct. If your Agent is going to be selling your home, give them the opportunity to sell themselves too.
TYPES OF REAL ESTATE AGENTS
Not all real estate agents are the same. Some have been operating in one area for a long time, others are new to the game. Some are part of a national franchise, others are truly independent. Some have the support of local admin staff and Sales Agents, while others operate from a big city or even from their lounge rooms. We are well known and trusted as a community-focused business with the intelligence of a large agency, coupled with the quality, attention to detail and approachability of a boutique company.
WHY COMMISSIONS VARY
As are homes, not all Agents are the same to consider when selling your home
Commissions, usually charged as a percentage fee, can change between suburbs, states and even across Agents. Factors that influence the rate an Agent is likely to charge include where they are located, their level of experience, the volume of property sold in the local market, the relative value of your home and the type of property you’re selling. Commissions are also often higher in regional areas given that fewer properties are sold, although this isn’t always the case.
Choosing an Agent based on the lowest rate of commission doesn’t necessarily guarantee you’ll net more for your property if an Agent doesn’t have the skills or experience to achieve the best possible result to begin with. Likewise, an Agent with a higher commission doesn’t necessarily mean they’ll be able to sell your home for a higher price. More useful measures of achieving a successful result include number of similar properties sold, depth of local area knowledge and ability to negotiate effectively.
Once you have chosen a Sales Agent, you will also need to consider how you’ll both market and sell your home. Your real estate agent should guide you through this decision based on their knowledge of the market and the likely buyers for your home.
Methods of sale
Generally, there are two main ways of listing a property for sale: auction or private treaty
Above: Gordon Macdonald; Auctioneer, and Robbie Neller; Neller Real Estate Director and Sales Agent.
AUCTION
In an auction campaign, a date and time is set when the property will be taken to market, marketed in advance of this with advertisements and open homes typically over four weeks.
Before the auction begins, the vendor will set a ‘reserve’ or minimum price for which they are willing to sell for. Once this is achieved the auctioneer will declare the property ‘on the market’ and, from there, it will sell ‘under the hammer’ to the highest bidder. The winning bidder then signs a binding contract and pays a deposit on the home.
PRIVATE TREATY
In a private treaty, a property is advertised or listed for sale - usually with a price guide - and potential buyers are invited to ‘make an offer’. The seller then negotiates - usually through their real estate agent - eventually selling when they receive an acceptable offer. This method of sale is the most common way properties are sold across the country.
OFF-MARKET
When selling via private treaty or auction, your property is advertised widely on online portals, in the local media and in your Sales Agent’s office with the intention to attract as many potential buyers as possible, encouraging competitive tension.
Alternatively, selling off-market allows you to cut out much of the preparation and advertising costs and go straight to qualified buyers most likely to buy your home, motivated to buy quickly before it is perceived to be going to market broadly.
CHOOSING THE RIGHT METHOD FOR YOU
Choosing which method to sell your home is one of the most important factors in the sales strategy - key to attracting buyers and getting the best price.
An auction is a great way to sell a property despite market conditions, so long as the Agent has a high level of experience in this method of sale and is backed by appropriate support staff to run an auction campaign effectively. Auctions offer the chance for a short, sharp marketing campaign ending in a successful result, with the opportunity to accept a post-auction offer if the property doesn’t sell.
A private treaty sale may suit when you want greater flexibility. It offers the opportunity for a quick sale but, if you don’t receive the price you want, it also gives you time to wait until you do. Selling by private treaty also leaves room for negotiation and takes away the high adrenaline stress that the auction floor often brings. Selling off-market can be a good approach where your property is unique and / or premium, you value privacy, you want to ‘test the waters’ before a full sales campaign, or where you know there will be strong demand.
Here in Noosa and the Sunshine Coast, most properties sell via private treaty. However, this isn’t always the case and your Sales Agent may have strong reasons for advising you to choose to sell by auction or off-market.
Marketing your property & preparing for sale
MARKETING YOUR PROPERTY
Your Agent will advise you on how to best market your property to attract buyers and encourage competition. This will often include advertising on Realestate.com.au, Domain.com.au and other local media outlets, and in some cases in other markets including interstate and overseas. Marketing can also encompass targeted social media, signboards, print flyers, 3D tours, professional videography and more.
The prominent position of our office on David Low Way is also one of the most effective ways to advertise a property. We capture the attention of many people who pass by our windows on a daily basis, who may not have even contemplated buying as yet.
Real estate agents often ask for advertising and marketing costs to be paid upfront, whereas others absorb the costs themselves and charge a higher commission. At Neller Real Estate, we value transparency and provide all marketing costs to you upfront in a itemised estimate, prior to you approving what you will invest your money in.
PREPARING YOUR PROPERTY FOR SALE
Once appointed, your Sales Agent will thoughtfully advise you on the opportunities within your home to maximise your sale price, with a variety of recommended strategies tailored to your specific circumstances.
Presentation has the potential to significantly influence the perception of value, and ultimately the sale price of your property, and with the high-end Noosa and Sunshine Coast market that attracts buyers from our local area, interstate and overseas, first impressions matter.
Before you list for sale you’re likely to be advised to declutter and spring clean your home so that it presents immaculately. Your Sales Agent may also recommend hiring a professional stylist for help with a full or partial staging of your property. This will help to position your home in a way that inspires buyers to imagine the lifestyle they will experience in your property. Your Sales Agent may even suggest minor renovations and repairs - such as painting; landscaping, cleaning carpets, enhancing window coverings or improving the kitchen or bathroom - if it is believed to be able to add more value to your home than the investment you will make.
HELPFUL TIP
Please ask your Sales Agent for a copy of our ‘Preparing your home for sale’ guide which features a helpful checklist to follow for the optimal presentation of your property.
NOOSA LOCALS