HOW TO ASSESS AN ESTATE AGENT'S PERFORMANCE AND ABILITY.
Category News
In several recent statements, Rowan Alexander, Director of the Cape Town estate agency, Alexander Swart Property, has urged home sellers to be more open and transparent with their estate agents. Those who do not disclose important information e.g. on their financial position or future plans, prevent the agent from working fully in their best interest.
Conversely, the home seller should have some way of assessing how competent the agent is and how efficiently he is going about his allotted task. References from previous clients can be a useful indicator as can the agent's sales record in the last six to twelve months. When he has actually been given a sales mandate, what will indicate how thoroughly he is operating, bearing in mind that his duty is to achieve the highest possible price in the shortest possible time, with the least inconvenience to the client?
- Alexander says that the first and most obvious indicator is how long it takes the agent to put up his FOR SALE boards. In some cases, agents actually neglect this task completely and in Alexander's view, that is a sure warning that they are not operating on the urgency level that characterises all good agents.
- The agent should also be able to show that he, or his agency is giving the home meaningful exposure in the property and social media. Are they using a good photographer to get the best images as well as a good artist to handle the lay-out and presentation? Alexander adds that this exposure should be regular and ongoing until the home is sold. Quite often agencies will settle for occasional advertising which is seldom effective.
- If the agent opts out of holding show-days for any reason, Alexander warns it is a very bad sign; almost a fool proof revelation that he is too relaxed about his commitment. In today's market, a newly released home, should be given show-days at least three out of four week-ends in the first month and thereafter at least once a month.
- It is also very important that the agent pre-qualifies potential viewers. Agents may try to impress the seller by bringing as many potential buyers as they can. However, a few discreet enquiries prior to the visit will often reveal one reason or another reason why the potential buyer will not qualify to buy the home he has asked to see.
- It is sometimes said that an agent should not be judged by the "boy-scout/girl-guide" virtues such as punctuality, appearance and regular communication but this, says Alexander, is not true.
- "The efficiencies and courtesies of any business demand that the hired employee behaves in a thoroughly respectful, co-operative way towards those for whom he is working. In estate agency work, where the agent operates from a different base to that of the client, it is especially necessary that he reports back to the client as often as possible, perhaps once a day, even when he has been unable to achieve any further progress in the interim. If the seller feels he is not kept in the loop, it is quite possibly a sign that the agent is not giving the sale the attention it deserves.
- Once a home has been put up for sale, how patient should the seller be before he begins to feel that he is being let down by his agent? Alexander says that every area and price bracket functions to its own norms and there is no one measuring formula. It is, however, noteworthy that Alexander Swart are currently selling homes in an average of 28 days and 90% of these are sold within 4% of the asking price. "This kind of success is not being seen elsewhere in the Greater Cape Town area at the moment, but it may serve as a goal for others to aim at," says Alexander.
For further information, please contact Rowan Alexander on cell phone 082 581 3116 or by email: rowan@asproperty.co.za
Author: Independent Author
