Selecting the right area agent impacts how quickly you sell, and the price achieved
Category Property Tips
Statistics show that the right area agent impacts how quickly you sell, and the price achieved. Sales data further shows that area agents sell over 90% of all properties and sole mandates achieve on average the fastest sales and best prices in terms of differential between asking and selling price (if priced correctly at the outset).
Experience further shows that an established local area operator is able to navigate market fluctuations as they are familiar with how the market moves through the various economic cycles and can provide the most suited advice. Such an agent will have a track record of successful sales, time on the market and prices achieved for sellers.
Finding the right area agent
Referrals are a good source to find recommended agents. Good area agents will also be active and visible in your area. You should see their "for sale"/"sold" boards and receive pertinent communications from them about sales in the area and the market. Be sure to check that the agent is registered with the EAAB and holds a valid Fidelity Fund Certificate.
A good local agent will provide an updated CMA (Comparative Market Analysis) based on the current market conditions along with a market plan that includes the latest digital technology and a referral network of buyers backed by a trustworthy brand and full back-office support.
Beware of high valuations and unrealistic price promises
A high price will deter buyers while the right price will attract interest, buyer competition and better offers. Beware of an agent who provides an unrealistically high valuation simply to secure a mandate. A good agent will motivate their recommended price supported by current sales and market trends.
Appointing a sole agent with a Sole Mandate
Sellers often mistakenly believe that multiple agents (from different agencies) will sell their property faster or secure a higher price. There is no evidence for this. On the contrary, it is off putting to buyers and instead of buyers competing for your property, you may end up with agents competing, or no-one competing at all.
Sales data shows that a Sole Mandate with the right local area agent can achieve the best results in terms of a faster sale and higher price compared to the market average. It is a legally binding contract and means the agent will dedicate time and budget to the marketing and selling of your property.
You will get accurate pricing advice backed by area expertise and current sales and market trends rather than an overvalued estimate to secure a mandate. A single point of contact provides peace of mind as buyers and viewings will be managed to avoid the risk of duplication of buyers and double commission. Buyers will also be vetted to ensure you receive legitimate offers so that there is no time wasting or pressure to accept just any offer as quickly as possible.
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Author: Gina Meintjes
