Written by Alison Davies on October 9, 2017. Posted in Real Estate News. Leave a Comment
Be cautious of a sales representive that provides you with a list of sales in a suburb inferring they sold them all (often they have sold few of those listed).
Sales representatives that brag about quick sales or having received 3 to 10 offers on a property at the first open, or in the first week, or before advertising, or off market – as if this indicates they are super salespersons. Almost always this indicates that have underpriced your property.
Sales representatives who recommend that sellers auction their properties even though the property has no outstanding features that would make it highly desirable to several cash buyers – remember, it is hard enough to get one cash buyer for most properties who will pay a reasonable market price let alone several cash buyers to compete. Ask yourself if they lack the will to work out a value on your property or if they are intending to use the lack of bids to convince you to sell your property under market value.
Have you been provided with a list of ALL recent sales in your suburb in your anticipated price range or just a few at the lower OR higher end?
Does the representative you list with do all the inspections, home opens and negotiations on your property or do they delegate?
Agents are paid by sellers to negotiate the best, fairest price for the seller (not the buyer). If a buyer wants an agent to negotiate the lowest possible price for them they have to pay the agent to act as a buyers agent for them. An agent cannot act for both the buyer and the seller on a property. It is illegal to take a commission from both parties. If an agent sells another agents listing in conjunction, the agent is a sub-agent to the listing agent and is acting for the seller.