It is of utmost importance that you make use of a well reputed real estate agent, whether you are the seller or the buyer. We have seen many unhappy people because they did not make use of a proper agent. In this article I will explain what to expect from a real estate agent.
The first job of an estate agent is to help the potential seller to set an achievable market related offer on the property. This is thus not as easy as it sounds. A lot of South African sellers are expecting way over market related offers on their properties. A lot of estate agents will give unrealistic figures to their clients in order to get the sole mandate on the property. It is the agent’s duty to investigate the current selling price of similar homes in the same area, and also the sales history of similar properties. Estate agents should do a thorough investigation on the property.
A well reputed agent should do a Comparative Market Analysis on the property, if you find that he is to busy or has a lot of excuses then you should change estate agents as soon as possible. Good real estate companies will give their staff training on how to do the analysis and how to put it in writing for the client to understand.
You should also make sure that the agent does the advertising as you agreed. The mediums and the budget should be discussed and followed. The agent should also be able to advertise the property on a national level, which is why it is always better to make use of a big estate company; they have already a big following in the South African market and will get you a lot of exposure.
A good agent will also make sure that the home is in good viewing order for the public. The agent should advise you on factor which might push up the value of the property, whether you need to upgrade the garden, interior, and security etc. They should also assist and be present at show days. They know more about the trade than you so they should give their professional input to help you get the sale.
When it comes to price negotiating, then the agent should keep it calm and relaxed. They will avoid any uncomfortable vibes at all costs, backing their arguments with hard facts; where as a bad agent will be short tempered, causing one of the two parties to walk out on the deal.
A good agent should also be armed with all the property laws of South Africa. They should be constant contact with a layer who specialises in the property markets.
A good agent will also make sure that the documentation which is handed to the estate attorneys are 100% correct. A small error on the documentation can delay the process with days, if not weeks.
A proper real estate agent will assist the seller and the buyer with the moving. They should give them proper references of good movers, so that the process can be completed at a good price and with no hassles. This is not the agent’s responsibility, but a good agent set’s no limits to their responsibilities.