The correct choice of an agent is crucial to success in home selling
Category Weekly Advice
Along with lawyers and car salesmen, real estate agents every now and then find themselves castigated and reviled. They are accused of fudging the truth, withholding information and even altering the terms and conditions of sales as they go along-- in short, of acting contrary to the Institute of Estate Agents’ Code of Conduct.
Always, said Rowan Alexander, Director of Alexander Swart Property, the misdemeanours of a very small handful tend to be regarded as typical of all.
“One bad apple affects the whole tub, but in my experience South African agents operating legitimately are some of the most honest in the world, if only because our Code of Conduct is so thorough and so well applied. However, because there are a few bad apples around, the prospective home seller should take the care to be very selective about whom he appoints.”
As a first step he should interview at least half a dozen, possibly more agents, before he appoints one - but what questions should he ask the agent touting for his business?
The first and most fundamental question, said Alexander, is, “Do you have a Fidelity Fund Certificate?” If he does not, he is acting illegally and has no right to be in the business. Furthermore, if he somehow persuades the client to take him on despite having no certificate, the Estate Agency Affairs Board will not pay out the client any compensation should the agent steal funds or act in other way inimical to the client’s interests.
Then the client should ask to see the agent’s track record for the last six to 12 months along with testimonials from previous clients. If the agent has not been successful recently, he is, said Alexander, unlikely suddenly to improve – although there have been cases where this has happened.
“There are agents who go through a bad patch and it can be satisfying to help such people to reinstate themselves. In general, however, the client should aim to pick one of the top 20% who are responsible for 80% of South Africa’s residential sales.”
It is also important, added Alexander, to assess at the outset just how well the agent knows his area. The client should ask pertinent questions regarding average sales prices, how long sales in the area take and what the future prospects for the area are.
“If you find yourself liking an agent and believing that he or she will suit you, the next question to be asked is, “What sort of marketing plan will the agent implement? How much would he spend on advertising and where would he place it? How active is his company in the social media? Do they use a professional photographer for advertisements and acknowledged layout experts?””
Valuations are also a crucial part in the essential run up to a property sale. The question here, said Alexander, is, “Can the agent verify that his estimate of the home’s value is accurate and that he is not lowering the price in order to get a quick sale?”
Communication is also important, said Alexander. The client should establish at the outset how often the agent will be in touch with him and by what means. He should make it clear what times of the day he will be available for telephone or other conversations. Equally important, he should establish at the outset how often the agency plans to put his house on show.
Capping Alexander’s remarks, Marie Grant, a top selling agent at Alexander Swart Property in 2017 said,
“The selection of an agent all boils down to three main factors: is the agent competent, is he honest and is he passionate and committed? It is worth reminding ourselves, too, that in this business it helps if the agent has a sense of humour because very often a great deal of work and considerable effort are needed before a sale is put through.”
For further information contact Rowan Alexander on cell phone number 082 581 3116 or by email rowan@asproperty.co.za.
Author: Independent Author
