Unpacking the role of an estate agent
Category Advice
The internet has imbued us with the confidence and the belief that things previously the exclusive domain of professionals can now be done by any Tammy, Diane or Larry. And yes, watching a YouTube video on how to hem your own trousers or reading a tutorial on how to make a bird feeder from old drain pipes can be very rewarding and empowering, there are certain things that are better left to those with the experience and expertise to handle it effectively and timeously.
Property - particularly the business of selling - is one such thing that is best left to the professionals. "Selling a property comes with legal requirements, financial risks and emotional stress, and the most effective way to manage these things is to appoint a trusted property advisor to charter this particular ship for you," says Bruce Swain, CEO of Leapfrog Property Group.
The most important reasons for appointing an estate agent is around time, money, legislation and, of course, peace of mind.
Here's what an agent can do for you.
Agents save you time
Managing the sale of property once every 10 years is very different from doing it every day, which is exactly what agents do. This means they're able to work faster and more efficiently because they know the systems, the processes and the industry. They have the contacts, the know-how and the negotiation skills to make sure your property sells at the right price and as quickly as possible.
"People seem to think that selling a property involves nothing more than listing it on an online platform, but that is only the start of it," Swain says. He adds that the real work is liaising with potential buyers, setting up appointments, accompanying them on viewings, answering questions, preparing documentation, negotiating and much more. This is extremely time consuming and can be rather daunting if this is unfamiliar territory for you.
Agents help you make more money
If your reason for wanting to sell your property yourself is to make money by saving on agent commissions you are likely to be disappointed. "In fact, a trusted property advisor can actually help increase the profit for you because they know how to negotiate and won't leave money lying on the table, so to speak," Swain shares, and adds that this is because they have access to the resources and skills that ensure they price a property properly.
Research suggests, and there is much anecdotal evidence to support this that properties that are properly priced sell faster and at price very close to the desired asking price than ones that are overpriced.
Agents deal with the paperwork on your behalf
Property transactions, because of the far-reaching financial and legal implications, are shrouded in paperwork. "Property agents and advisors are very well versed in the ins, outs, loopholes and potential pitfalls of the financial and legal documentation, and their job is to guide you through it safely. A mistake or oversight on a signed property related document on a contract could cost you thousands the long run, which is another reason why it is better to have an expert by your side," Swain says.
Agents ensure you can rest assured!
Property is one of those industries where the agent only succeeds if the client succeeds. As such, it is in the best interest of the agent to ensure that not just the client, but all parties involved, are satisfied.
"At the end of the day the agent has a professional reputation to uphold so it is always in his/her interest to give clients the best service in an effective, fair and transparent manner," Swain concludes.
Author: Leapfrog Property Group
