5 reasons why a client should make you their agent of choice
Is your potential seller considering using a virtual agent? These crib notes will persuade them how you offer more value
Many sellers start out thinking that selling a property will be quick and easy, but soon realise that they need the help of a professional agent. Selling a property can be a daunting task, from pricing it correctly to marketing it and ultimately negotiating the sale’s transaction. Increasing competition from low commission, online estate agencies is creating a stronger case for the value offered by a traditional estate agent. This is why you add value:
1 A VALID FIDELITY FUND CERTIFICATE IS REQUIRED
Agents are legally obliged to have a valid Fidelity Fund Certificate, which they must produce upon request. They also have to be registered with the Estate Agency Affairs Board (EAAB). A seller can check on www.eaab.org. If an agent cannot produce their certificate and is not registered they are practising illegally. Should the seller need to lay a claim of financial fraud, the Fidelity Fund will not be in a position to reimburse them.
2 YOU HAVE EXPERIENCE
It’s important for the seller to ask – an agent who has successfully concluded property sales in the past is more likely to render professional, expert service. That being said, everyone needs to learn and a rookie agent can do a fantastic job. However, the seller will need to establish which senior agent will oversee the sale, and their experience and level of involvement.
3 YOU HAVE A MARKETING PLAN
As a professional agent you should provide the seller with a detailed marketing plan, which will include listings on the various property portals, print adverts (where required), brochures and show days.
4 YOU HAVE GOOD AREA KNOWLEDGE
As a successful agent you will be able to reveal what similar properties in the area have sold for and what developments are taking place. Agents can offer proof that they work in the seller’s area, as opposed to just popping in and out with no real ties to the community. Importantly, you should be able to demonstrate properties sold in the area previously.
5 YOU’VE EARNED YOUR COMMISSION
Agents work at risk, meaning they carry the costs of marketing and showing a property, and the time expended, which are only recouped if the property sells and they are paid a commission. If you don’t sell the property the commission goes to someone else and your investment goes to waste. An agent’s goal is to negotiate a sale between a willing buyer and seller at a reasonable price. If, as an agent, you can’t even negotiate your own commission, but then opt to discount by as much as 60%, how will you negotiate the best price for a property?
*Bruce Swain is CEO of Leapfrog Property Group, South Africa’s first empowered
residential real estate group. Swain worked in banking at NBS and Nedcor before entering
real estate. He has more than 28 years’ experience in the industry, having worked as regional director for RE/MAX Southern Africa before co-founding Leapfrog in 2007
Words: Bruce Swain