Whatshot
Property Talk
Property Talk
Date: 2018-05-18
Like oil and water. This is often how I can describe buyers and sellers in a property transaction. I have sometimes wondered how many transactions would successfully conclude without the facilitation and patience of a good intermediary or agent.
Having witnessed what realtors go through in a typical transaction over the past 23 years, I believe that the good estate agents earn every cent they make on a property sale. On average a property may take dozens of viewings, months or even years of active marketing and endless patience to finally get to a point of sale.
While I concede that in a bull market across the lower price ranges it can be possible for a certain type of property, such as a new development of one to three bedroom apartments selling in a high demand area, to essentially be sold without much direct negotiation and closing skill, when it comes to the slower and tougher real estate markets such as what we are currently experiencing and the effective marketing of premium real estate offerings, I am convinced that an astute professional agent makes all the difference to a transaction.
The six reasons below are why savvy sellers should carefully consider and seek out the best agent to align themselves with. In real estate it is true that the key relationship is between the agent and the seller who acts as "client" and appoints, and eventually pays, the agent. The agent must however always take the responsibility towards the buyer seriously. "Win-win or no deal" is the mantra by which all the successful agents live by.
1. Knowledge: The right knowledge at the right time used in the right way is real power.
2. Time: Sellers are busy people and the more successful they are the busier they are and the more they understand the value of time.
3. Presentation: You never get a second chance to make a first impression. How a property is showcased using high-end professional photography and videography online and then how the home is prepared and presented to a buyer during a viewing is essential and something very few sellers understand or are able to do.
4. Negotiating: This is at the core of the value proposition that great agents bring to the table. Moving a transaction forward, listening and responding appropriately, discriminating between complaints and objections and knowing the difference, and how to discern between material and irrelevant aspects of a transaction are important aspects that good agents do consistently.
5. Closing finesse: Nothing happens until a sale is concluded. Unless a meeting of the minds of the contracting parties occur and an agreement is signed, everything else leading up to that event has no value.
6. Transaction management: The paperwork and process that follows the conclusion of a sale can be demanding and onerous. It can be done professionally with the help of an agent making the entire process seem quick and easy.