Don’t pick the cheapest agent to sell your property – here’s why

When it comes time to sell an investment property, picking an agent can be a tricky task. Selling a
property can often be a stressful time, and knowing whom to sell with can make all the difference.
The process of deciding an agent begins beforehand, with sellers doing some research themselves.
Knowing which agents and agencies are active in your area is important as local agents can draw
on their database of interested property seekers, in particular buyers who may have missed out on a
similar home in the same town or suburb.

It’s also a good idea to research homes for sale in your neighbourhood – and how much they are
selling for. It’s advisable for potential sellers to attend a couple of local open for inspections as this
will allow you to see how the different agents conduct themselves as well as their knowledge of the
local market.

Then, after doing broad research for the area, sellers then should seek to have their property
appraised by at least three different sales agents.

Agents appraising your home will use comparable sales to provide you with an estimated selling
price for your home in the current market. An appraisal also provides an opportunity for you to ask
agents what services they provide, the strategy behind their marketing and advertising campaign
and what their commission fees are.

When looking into commission fees, that generally vary, but can range between 1.5 to 2.5 per cent
of the sales price. It’s important not let commission make up the bulk of your decision making, as
while you may want to find an agent who asks for the smallest possible rate, the cheapest agent
may not necessarily be the best agent to do this.

It’s also not suggested to attempt selling a property yourself, as the act of negotiating a sale is a skill
honed with training and experience and is an area where a licensed agent can add significant value.
An experienced agent can not only advise on the initial listing price but, importantly, negotiate the
final sale process and price with one or more interested buyers, achieving the best possible
outcome for your most valuable asset.

Trying to sell your house ‘on the cheap’ can cost you significantly in the long run.

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