So you’ve decided you want a real estate agent and now it’s time to find one. It’s not as simple as finding the one with the lowest commission or the one your friends recommend. You need to take your time to find the best estate agent for your particular home. Here are four tips to help you select the perfect real estate agent.

Find someone with experience
You want a real estate agent who has at least five years’ experience selling homes like yours. The “selling homes like yours” is the most important part. If they have no experience in selling investment properties, they may get a few factors wrong or not have the right client base for a valuable, quick sale. Likewise, if they only have experience in selling investment properties, their tactics may be too hard for home buyers.

More experience also means a larger client base. It can mean a quicker sell.

Have a chat with the agents
Spend some time chatting to agents you’re considering to see how well they communicate. You want to find someone who is willing to communicate with you regularly about the sale of your home. You shouldn’t have to keep calling them for reports. Let the agents know that you preferably want someone from the area, since they’re more likely to know the selling points and know the local market better.

At MyTopAgent.co.nz we know who the top agents are, as every vendor we’ve dealt with completes a survey on how they performed. If they don’t perform, they’re moved off our list of top agents. This keeps our vendors up to date with people who are top of their game.

Talk to others
While you don’t just want to go off recommendations, you can still use them. Talk to a few people who have sold homes in the area. Find out who they used and whether they’d recommend them. While a house may look like it sold quickly, you may be surprised to find out just how much work the sellers put in rather than the estate agents.

You should also be able to talk to the agents for references. Good ones will jump at giving you a large list of previous clients who recommend them.

Check the licensing
The estate agent needs to be licensed. Check this point carefully, and make sure they’re licensed in your particular territory. You’ll also want to make sure they sell homes for a living, and it’s not a side business they run. Doing this full time means they will be able to put the time and effort into selling.
It’s also worth checking that they’re involved with a licensing body as this offers you more protection and means they know the code of standard for selling.

Commission is a contentious issue with Vendors, we hear it all the time.  The best advice we can give is do NOT focus on commissions when you first meet an agent, focus on results. There are a couple of ways around this and the key is not cutting commissions but linking it to results. Think about it?

Think about this for a second ... you’re going for a job interview and the employer spends all their time talking your salary down before you've even had a chance to proof yourself - how would you feel about that company? Would you want to do your best?

You can watch this short video here

Makes you think doesn't it...read on.

WHAT ARE STANDARD RATES?

In some areas, it will depend on your selling price. Having a higher priced home could help you save on a few percent of commission. For example, agencies in Auckland typically have a $300,000 benchmark meaning that they will have a commission of between 2.95% and 4% for up to the first $300,000. Anything over that figure is between 2% and 2.5%.
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Otago has a slightly different threshold. A 4% commission is usually applied to the first $250,000, and then 2% after that. Wellington is a 3.5% commission on the first $400,000, but 2% thereafter.

COMMISION STRATEGIES

Here are a few options you could discuss with your agent:

1. You could negotiate what’s called a set fee: No matter what the property sells for there’s a set fee. I would try and use this option when selling via auction - not price. This strategy won’t affect the negotiation phase too much as the house will be sold via auction. Some agencies are offering this 'fixed fee type of service,' however, I'm yet to see a super performer work inside this type of environment.
   
   
2. Discuss a refund on the marketing costs: If you do this they won’t be so flexible on the fees but this is often a simple clean-cut way of saving money. Just be careful of those that offer free marketing costs, as you may find the commission rate blows out on the end result i.e.: it’s higher. In a market where there's few listing many agents will offer this option, its all care no risk for them but for you it locks you down to paying the marketing fee's if the house doesn't sell, hence sometimes forcing you to sell to avoid an expensive marketing campaign which can be in the thousands.
   
   
3. Tiered approach: This is my favourite. Work out what you would be happy to sell your house for? As an example, say you would be happy with $500,000 (after fees) and be realistic. As an example, say to the agent, “If you can get us $510,000 for our property, then we are happy to pay full rates. No questions. However, if you get below $490,000 then your commission rate drops.” The negotiated fee structure could look something like this:
   
   House Price $480,000 to $490,000 (discount 10%)
   House Price $490,000 to $500,000 (discount of 5%)
   House Price $500,00 to $510,000 (standard commission)
   House Price $510,000 to $520,000 ( $1,000 BONUS for every $10,000 over $510,000)
   
   This shows the agent you're committed to selling for a realistic price and they too will be sharing in any pain should the price not meet the expectations you've both agreed too.
   
   

When looking at agency fees do not make the mistake of selecting and agent that just drops their fees because you asked them too. If they drop their fees straight away, what do you think they will say to the purchaser of your house when it comes to talk about price?

TIP: Keep the topic a healthy discussion between you both. Remember, real estate agents are used to negotiating so they won't be offended. Also remember, they are selling your biggest asset so you need to have them working 'with' you as a true partner. If you do this, then the natural law of reciprocity will set in and all will have a great outcome. Play fair and you will all win :-)

Watch this short video here

Selling a home is tedious, tiring, and a lengthy process. Does it really need to be like this? Not at all! With these top tips, you can get your house sold for a great price, without tiresome negotiations and difficulty from potential buyers. Here are all the hot tips you need.

Do Those Repairs

Don’t leave anything for viewers to think “well, this needs work,” or “this is going to cost more money.” You want to make your home ready to sell as soon as they look. Fix the cracks in the skirting board and repair those loose cupboard doors. Whether it’s cosmetic or structural, get a repairman in or do as much of it yourself as you can.
You’ll see a 5-10% increase on prices from buyers by doing this, according to some experts.

Keep Your Price Realistic

Now that you’ve got the repairs done, it’s time to think of your asking price. While you want to get the most from your home, you don’t want to opt for something too high. Set a price that works with the current real estate market and think about the prices your buyers are going to offer.
Remember, your house is only worth the amount your buyer is going to offer.

Look for a Reputable Real Estate Agent

Not all agents will want to get your house on the market as soon as possible. But having one is essential to help make the paperwork and viewings processes as smooth as possible. Take your time to research all estate agents in the area to make sure they really do know how to sell houses and have a proven track record. And don't forget you always use MyTopAgent.co.nz.
Discuss the current market and skills for selling a home with prospective estate agents. This can help to weed out the bad.

Get Your Listing on Facebook

Who said you need to pay a fortune to market your home? Facebook is completely free and highly effective. This is useful whether you have an agent doing the work for you or you’re selling privately. You want to be connected to as many people as possible and make your posts about your house public. Use the right hashtags to connect with prospective buyers.
Ask friends to share your posts to help boost your reach and chances of selling.

Get Your Home on YouTube

This is another powerful free tool. All you need is a video of your home and to upload it onto the site. You get the chance to share your neighbourhood, your home, and special features within the one video. People viewing it get the chance of feeling like they are really there, and sizing is much easier to see than in standalone photos.
YouTube is also useful for Google searches and quick marketing. You can use SEO and tags to capture the attention of the right audience.

Offer to Leave Some Items

You may have a spare fridge or oven, or you may have furniture that you just don’t want to take with you. Offering a few free items will entice buyers even more. Discuss this with them, and finding out where they’re moving from and what they want from their new home will help offer just the right items.
It’s time to use the above tips to help sell your home. You’ll boost the chance of a quick sale, without all the annoying negotiations and low-ball rates.