C&G’s Vendor Handbook: 5 Questions to Ask Your Agent

When selling your home, one of the very first things you’ll need to do is appoint an estate agent. But with so many agents to choose from, how can you know which professional will have the right approach for your circumstances? Importantly, how can you ensure your agent will achieve you the very best price for your asset? In today’s blog, C&G present 5 key questions vendors should ask a prospective agent.

What Do You Love About This Area?

This is a great get-to-know-you question. Not only does it give you a chance to gauge an agent’s personality, it allows you to see how well they know the area you live in. How is much of the property zoned? What are the best schools? Where’s the best coffee? Which stations are nearby? These are all selling points that they’ll need to communicate to interested buyers - so if they can’t articulate them to you, think twice.

What Properties Have You Sold Recently?

Take note of these properties, and considering looking into the sales results independently. Your agent’s recent results will support their claims of market expertise, and give you an insight into the genre of property they’re familiar with selling. Remember – the right agent for you is not necessarily the individual who sells the most homes for the most money. Connect with agents who’ve sold properties similar to your own, as even the best property professionals will have a specialty in area or asset type.  If you’re selling a luxurious five-bedroom property and the agent is an expert at one-bedroom investment apartments, they might not be an ideal fit.

What Price Do You Think I Can Expect to Achieve – And Why?

This may seem an obvious suggestion, but there is great value in this snappy little question! The agent that promises you the highest sale price is not necessarily the one best suited to your campaign. In fact, those promising sale results much higher than their competitors are often the ones to avoid. Ask your agent to present the cogent rationale behind their appraisal – ask how they arrived at this estimation of value, and enquire as to how they’ll deal with market fluctuations during the sales campaign. They may be able to offer comparable sales in the area to justify their figures, or note that your property has features that are sought after in the current market.

Why Do You Think My Property is Suited to This Method of Sale?

In your initial discussions with an agent, they will explain the methods of sale available to you. Generally, you’ll be deciding between an auction or a private sale, but in some rarer cases, tenders or Expression of Interest strategies are considered. Asking your agent why they think your property is suited to a particular method of sale is a good way to understand their sales style, allowing them to showcase their competence.

What Problems Do You Think Buyers May Identify?

This is a good chance to assess your agent’s attention to detail. They’ll likely have opened hundreds of homes to the public, and be well-versed in perceived deficiencies buyers notice. Lack of storage space, for example, or an unusual configuration in the lounge might cause purchaser resistance. Asking your agent if they foresee any aspects of your home buyers may take issue with not only prepares you for road bumps, but gives you the opportunity to rectify or improve areas of concern. You may wish to style the property with added storage, if that’s picked up as a potential problem, or style the spare room as an office if privacy for professionals is a concern. 

If you’re planning to sell your home in 2018, Chisholm & Gamon can answer any questions you have about the process, sales strategies or the property market climate. For help and advice, get in touch with the team

Elwood

03 9531 1245
90 Ormond Road,
Elwood Vic 3184
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Black Rock

03 9589 3133
3 Bluff Road,
Black Rock Vic 3193
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Port Melbourne

03 9646 4444
1/103D Bay Street,
Port Melbourne Vic 3207
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Mount Martha

03 5974 6888
7A Bay Road
Mount Martha 3934
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