Compare apples with apples

MANY people think they should entrust the sale of their principal place of residence to the real estate agent who puts the highest value on it.

This should not necessarily be the case, says Bellarine Property managing director Christian Bartley.

“Talk to people you know who have recently sold in the area,” he said.

“Act on advice from people whose opinions you respect. Word of mouth is the best source of current information about local real estate agents, doctors or any other practitioners.”

According to Mr Bartley, those who intend to sell should also obtain submissions from agents who are active in their local area.

“You can tell if agents are active by the number of ‘Sold’ signs they have, and by the quality of their local advertising.

“A busy office with ready after-hours facilities is also a must. Choose two or three agents and get them to put their submissions in writing.”

Mr Bartley said some of the criteria to consider were level of service, specific advertising details, fees and expenses and commitment to feedback during the marketing program.

“Once you have two or three submissions you are in a position to compare apples with apples.

“It’s no good going with the agent who puts the highest value on your home or offers you the lowest commission only to find they don’t do any active marketing or provide you informed feedback from the market.”

According to Mr Bartley, many would-be sellers see through this kind of false economy too late.

“Potential buyers recognise overpriced property for what it is.

“This makes them cautious and decreases competition for the property.”

He said most overpriced properties failed to attract offers and purchasers ended up with the psychological edge once negotiations were under way.

“Take your time about choosing an agent.

“After all, it’s not something you do every day and you want to be confident in your choice. Do your homework and don’t be seduced by fantasy prices or cheap commissions.”

For more information, phone Christian Bartley on 0410 695 325, email [email protected] or head to bellarineproperty.com.au.