Whether you are seeking to sell your home, or a potential buyer, looking for your dream house (and hiring an agent as a Buyer Representative), you deserve, and should expect, several things from the individual you hire. While both buyers and sellers should anticipate the finest service and expertise from their agent, this article will focus upon homeowners, and their relationship with their agents.
Agents are bound to certain ethics and principles, both by law, as well as ethical code (for example, Realtors agree to a Code of Ethics), but this article, will attempt to simplify these principles and efforts, and focus on 5 Priorities Clients Deserve from Their Real Estate Agent.
1. Under – promise, and over – deliver: A real estate professional must be the rock, his client can lean on, and depend upon! It may be tempting for some, in their zeal and desire to gain a listing, to be overly optimistic, regarding recommending a Listing Price. However, is that really in your client’s best interest? Statistics indicate homes listed on the market, generally attract their best offers in the first few weeks, after being listed. If the price is perceived as being too high, by potential buyers, this may deter showings, and/ or quality offers! It may also create additional stress for your homeowner. Rather, one should always under – promise, but over – deliver, and that is why, I feel so strongly about my trademarked slogan, I’ll always tell you what you need to know, not just what you want to hear (TM)!
2. Professional pricing advice: While it is the homeowner who has the final say/ word, on the Listing Price, the agent who recommends a price range, based on his professional expertise, and thorough analysis of the market in that area/ region, using a Competitive Market Analysis (CMA), which compares true Comparables, using plus and minus factors/ variable, is providing the service his client deserves. Don’t merely recommend a price, you believe your prospective client, might want to hear!
3. Marketing; sales; advertising; promotion: Client and agent must thoroughly discuss strategies and ideas, so they are on the same page! Discuss how the house will be marketed, and why, sales strategies, explanations, etc, advertising media and campaigns, and promotional approaches!
4. Showing the house to its best advantage: How will and should this particular house be shown, to emphasize its strengths, and to its best advantage? Might staging make the home, more saleable? How will Open Houses be utilized, and why? How will the curb appeal, and first impressions, be enhanced?
5. Quality, professional negotiations: A homeowner’s first indication of the level of an agent’s negotiating skill, should be observing his Listing Presentation. Is it both compelling and to the point, comforting, yet leading? How does the agent handle questions, concerns and/ or objections? If you question commission, how well does he explain why he’s worth his fee? Remember, if an agent can’t justify his commission, how will he negotiate the best price and conditions, for your house?
There are many things, clients need and deserve from the real estate agent. These 5, merely touch the surface!
Written by: Michael Adewoye – Real Estate Information Centre.
