What Services A Seller May Expect Of An Estate Agent

Professional service

A seller expects a professional service from his or her estate agent. The agent in turn requires the full and honest co-operation of the seller to enable him or her to market a seller's property professionally. For example, the agent should know the seller's reasons for selling.

 

A thorough inspection of the property

A professional estate agent will undertake a thorough inspection of the seller's property. The seller must ensure that the estate agent is informed of all relevant facts and information regarding the property and should discuss its strong selling features, the advantages and disadvantages of the property's particular location, the current condition of the property, etc. Sellers should remember that the general appearances and neatness of a home and garden are always strong selling features.

Advice on the likely market value of the property

An important function of the estate agent is to advice a seller on the likely market value of the property and to help in setting a realistic price. This is done by comparing the prices of recently sold properties in the area with the price suggested by the seller. The asking prices of similar homes up for sale in the area will also influence the seller's asking price.

A seller must understand that the sale price of a property is set through the interaction of supply and demand and is beyond the control of either the estate agent or the owner. The amount of money which a seller has spent on his or her house will also not necessarily increase the sale price of the property.

The asking price of a property will obviously determine the number of interested buyers. Also remember that properties, when overpriced, usually remain unsold for a longer time and might eventually only sell at a much lower price than the original asking price.

Courtesy and co-operation

A seller can ask his or her estate agent to make an appointment before showing the property to prospective purchasers. A seller should preferably not accompany a prospective buyer through the property during a showing since prospective buyers will be more relaxed when asking questions if the owner is not present. A seller is entitled to request the estate agent to give him or her a sales progress report from time to time.

A speedy finalisation of the transaction

After finalising a sale, most estate agents, although not obliged to do so, try to speed up the transfer of the property into the name of the purchaser. Their efforts ensure that the seller receives payment of the purchase price with the minimum delay. The estate agent concerned might also be willing to act as a mediator in settling minor disputes that may arise between a buyer and seller after the sale.

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Homesellers Mistakes

Not giving the sales effort enough time

Homes may take 3-6 months to sell in any market. Estimate how much time you have before you need to sell and then plan ahead to allow extra time. You don't want to be forced to accept a disappointing offer.

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