All Topics / Help Needed! / Should you have an exclusive agreement with an agent

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  • Profile photo of weathjessweathjess
    Participant
    @weathjess
    Join Date: 2010
    Post Count: 18

    Hi – I am looking to sell a property and not quite sure where to start. I have spoken to a few agents who have given me slightly different ideas on the value and target market of the property. I am having trouble deciding on which agent to go with. However, I have had advice to list with multiple agents – this was from someone in Qld (and I live in Victoria). I haven’t really seen this done in Vic. Can someone shed some light on whether this is acceptable and would be advantageous?

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    I wouldn’t think it would be advantagious.

    Are you going to pay for them all to list it on the internet??

    Why would someone devote time to your property when someone else could sell it after they’;ve done all the work? I didn’t think people did that any more.

    You need to know what your property is worth then decide which agent is working for you. There are agents (shock horror) who tell you that you’ll get a great price. But beware, after a few weeks they tell you the market has dropped or you need to revise your expectations to meet the market. Then your property goes stale. People start thinking “why did they drop the price, what’s wrong with it” etc etc.

    I’ve seen it happen. It’s not easy picking an agent. Ask around. Personal recommendation is good but be aware that most people sell 1-2 houses in their lifetime so might not know the difference.
    Start with looking at their adds on RE.com. Are the photos proffessional, house plans? good, bad, non existent? Wording? I’ve seen some TERRIBLE adds. A friend listed his and it said “situated on a main road” Blimey I’d stop reading right there. Sure it was a busy road but why state a negative. And there was no mention of the built in wardrobes. The NEW kitchen said “refurbished” kitchen. No mention of the great location.
    Anyway you get my drift.
    It’s a HUGE decision that can cost you $1,000’s. Good luck.

    Profile photo of BennyteeBennytee
    Participant
    @ten_burner
    Join Date: 2006
    Post Count: 243

    Any agent worth using will not work for you without an exclusive agency agreement. Most agents work commission only, they will not invest their time an effort in you & your property, while there is a risk another agent could sell it & get all the commission. Would you

    Profile photo of JpcashflowJpcashflow
    Participant
    @jpcashflow
    Join Date: 2007
    Post Count: 575

    Hi,
    My advice use one agent…
    I worked in real estate for a number of years and I had a few clients who wanted an open agreement. I would decline the opportunity.

    With the Adds before they list your property on the internet, ask them to send you the draft.

    If your having troubles deciding get a sellers agent like Ian Reid to help out

    Jpcashflow | JP Financial Group
    http://www.jpfinancialgroup.com.au
    Email Me | Phone Me

    Your first port of call in finance :)

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992

    I like to create a 2 tiered commission deal – add some extra to their normal commission rate provided they sell within my parameters. Short exclusive agreements are enough to test the market and ensure the REA applies their best efforts without delay. They should also have a hotlist of buyers to refer to within the first week as well.
    Good luck
    Cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

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