The most common error made by house sellers when picking a listing Brisbane buyers agent is to choose one purely on the basis of two factors: the highest list price for their property and the lowest commission.
A vendor may first inquire, “What is it? Are you insane? “because sellers want to get the best price and pay the lowest commission possible. However, these two characteristics have nothing to do with selecting a professional brisbane buyers agency and are often irrelevant. Consider why.
Related: Looking to interview a buyers agent? Read this
The Most Expensive Suggested List Price
A Brisbane buyers agency cannot predict the price at which your house will sell. To assert that they can is an erroneous assertion. A listing Brisbane buyers agency may provide you with information on similar sales, pending sales, and current sales. However, you set the sales price, and a buyer will determine if the price is reasonable. A Brisbane buyers agent might recommend a list price that will entice a buyer. What happens next is largely up to the buyer.
While setting a listing price may seem daunting at first, it may be reassuring to realize that in 2019, home owners earned a median of 99 percent of their asking price—and their houses typically sold within three weeks.
This demonstrates that setting an appropriate listing price is attainable if you do sufficient research and collaborate with an experienced Brisbane buyers agent.
Here are some pointers to keep in mind when you look for a Brisbane buyers agent.
• Some buyers agencies falsify the facts in order to get the listing. Due to the fact that agencies cannot guarantee the selling price, the listing Brisbane buyers agent who recommends the greatest price may very well be lying. Inquire as to the Brisbane buyers agent’s justification for the proposed list price. If the Brisbane buyers agency does not have statistics or if the Brisbane buyers agent’s home sales are in a different neighbourhood, this may be a red sign.
• Look for a listing Brisbane buyers agent that can provide you with a selection of pricing options. Often, but not always, there is a pricing range. Numerous variables influence the range, including geography, market temperature, and property modifications.
• Pricing is a skill. If the house is priced correctly, you will almost certainly get an offer. If you price it too high, you may have no showings at all and may ultimately be forced to cut the price, leaving purchasers perplexed as to what’s wrong with your home.
For comparison, the average time required to close a property in 2019 was between 40 and 48 days, depending on the month. If it takes much longer, your pricing is probably too high.
Should You Pick Brisbane buyers agency on the Basis of Commission?
Each Brisbane buyers agent is unique. Each company has its own marketing strategy and advertising budget. By selecting an Brisbane buyers agent with a sizable advertising budget and matching company funds, you can increase your exposure to a larger number of buyers. This is ideal, as reaching a larger pool of prospective buyers increases the likelihood of receiving a good offer.
Why would a Brisbane buyers agent work for less money than a competitor? There is always a reason for a broker or Brisbane buyers agent to reduce a real estate commission. Oftentimes, this is the only way an Brisbane buyers agent believes they can succeed in a highly competitive industry, as they cannot differentiate themselves on service, knowledge, or negotiation skills. If an Brisbane buyers agent’s sole benefit is a low fee, consider why. Is the Brisbane buyers agent in desperate need of business or is he or she unqualified?
Consider the following before making a commitment to work with an Brisbane buyers agent.
Occasionally, full-service Brisbane buyers agent will negotiate a lower commission in exceptional circumstances, such as the following:
- You’re buying and selling a home concurrently, entrusting both transactions to the same Brisbane buyers agent.
- You’re willing to do all of the legwork, advertising, and marketing, as well as cover all of the associated costs.
- You commit to referring additional business to the Brisbane buyers agent.
- You’re selling multiple properties.
- You lack sufficient equity to pay the full commission.
- You are accepted as a pro bono case by the Brisbane buyers agent.
- Unless the Brisbane buyers agent matches a competitor’s fee, the Brisbane buyers agent will lose the listing.
- The Brisbane buyers agent desires signage (traffic exposure) over charging a full commission.
If you’re interviewing Brisbane buyers agent who provide comparable services and are having difficulty deciding between or among them, request a track record of each Brisbane buyers agent’s initial list price and final sale figures. The likelihood is that the Brisbane buyers agent charging the lowest fee will demonstrate more price reductions and days on market (DOM).
The Critical Role of Agency Marketing
Marketing is the lifeblood of a successful listing Brisbane buyers agent. That is because effective marketing of a home is critical to its sale. Inquire about a complete copy of the Brisbane buyers agent marketing strategy. You should expressly inquire about the Brisbane buyers agent strategy for selling your home. For reference, the bare-bones minimum that you should anticipate is as follows:
- Professional signage, including a Brisbane buyers agent cell phone number
- A real estate lockbox
- Daily electronic monitoring of lockbox access
- Follow-up reports on buyer showings and feedback to the seller
- Broker previews
- Broker and office preview incentives
- Staging advice
- Newspaper advertising, if warranted
- Multiple listing service (MLS) exposure with 36-plus professional photographs;
- Distribution to major websites
- Four-color flyers, if necessary
- Financing flyers for buyers
- A minimum of two open houses, if the property’s location qualifies
- Direct mail to surrounding neighbours and out-of-area buyers/brokers
- Exposure at Board of Realtor meetings
- Feedback to sellers on buyer sign calls and buyer showings
- A 30-day comparative market analysis (CMA)
- Email feeds of competing listings
Bear in mind that no single strategy sells homes. It is a combination of all of these methods that results in the sale of a home.
The Qualities of a Successful Listing Brisbane buyers agent
You will be in contact with your listing Brisbane buyers agent for approximately a month or two (or longer). Choose an Brisbane buyers agent with whom you feel comfortable communicating. The following are some of the characteristics sellers indicate they seek in an Brisbane buyers agent:
- Experience: You want an Brisbane buyers agent who has sold numerous homes and has learned from previous mistakes.
- Education: Inquire about degrees and credentials.
- Integrity: Have faith in your intuition. Your Brisbane buyers agent demeanor should be sincere.
- Networking: This is a people-oriented industry. Certain homes sell as a result of a Brisbane buyers agent contacting other buyers agencies.
- Negotiation skills: You want an aggressive negotiator, not someone who is only interested in making a quick profit at your expense.
- Effective communication: Sellers emphasize the importance of communication and availability.
Finally, enquire about obtaining a personal guarantee. If the Brisbane buyers agent cannot guarantee performance and will not immediately release you from a listing, do not hire them.