How to pick the right agent in a tight real estate market?

9 March 2024

Finding the right real estate agent to manage the sale of what is likely your biggest asset will need careful consideration well before you make a final decision about who to sign with.

But rigorous planning is even more important in a tight market, like the one Perth is currently experiencing, so make sure your research is thorough and you do your due diligence.

Listing levels are more than 40% lower than the same time last year, so agents are extremely keen to find new homes to take to market and their buyer networks.

Here are some key considerations when deciding which agent you should entrust the sale of your home to:

Solid track record

Any agent worth their salt should have considerable runs on the board when it comes to property sales in your area or niche segment of the market.

Mont Property Managing Director Matthew Podesta recommends undertaking thorough research into a prospective real estate agent before signing with them to make sure you have a firm understanding of their sales capabilities and track record.

“If you have a property, particularly one in a niche market that requires a specialist agent, whether that means a premium market or a land specialist, you want to make sure they have runs on the board, so do thorough background research,” Mr Podesta said.

“Jump on to their company website and explore the styles of homes they currently have for sale and have sold previously to see how they stack up to the property you are looking to sell.

“Don’t be afraid to ask for examples. Ask the agent: ‘What similar homes have you sold in this price point in this area?’ Ask about their average days on market and any specialties they may have, whether it be location, demographic or property type.

“Also request strong case studies,” he said. “Often, you will notice an agent who is not a specialist in a certain area or segment of the market who has a listing outside of their usual remit. Sometimes, it takes longer to sell or they don’t manage to move it, only for it to go into the hands of another agent who is a specialist in that space who promptly gets the property transacted.”

The art of negotiation

A real estate agent skilled in negotiation will be paramount to a successful sale in a tight market.

Mr Podesta said if an agent has had practice negotiating a similar sale, they are likely to be more effective and net a good price for your property.

“You need to know that you’re backing the right person in that space because you want to know that they can extract full value,” he said. “If they’ve been in a similar position before with a similar sale, they will know where to push the buyer without overcooking the deal.”

Sound references and reviews

There is nothing more telling than a good (or bad) review. Agencies like Mont, who are confident of their ability, are happy to share testimonials from clients.

As a prospective vendor, explore how the agent and their agency presents on social media. Most will have a presence on Facebook and Instagram, among others, so check out how they position themselves in the local market, their online engagement and the types of homes they list for sale.

Mont Property prides itself on providing a personalised and professional service that consistently achieves outstanding results for clients. Call today to discuss your potential sale with one of our expert team members.

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