Property owners who’re looking for a reputable real estate agent to sell or lease their property are often daunted by the task. What qualities and qualifications should they look for in a real estate agent?

There are over 17,000 active real estate agents in Australia and everyone of them is chasing a new listing for their sales board.

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Back to selling your property, here’s some practical advice and actionable tips on finding a reputable agent.

Tip. 1: An agent who knows the local market well.

First and foremost, the agent should be able to demonstrate an in-depth knowledge of recent sales in the area. In particular, [they should] be able to discuss what comparable properties are currently or recently on the market, what they had sold for and what attributes or negatives influenced the sales price.

Agents should also demonstrate an in-depth knowledge of local amenities. They should be familiar with all the local facilities, schools, public transport and places to eat, lifestyle features or whatever makes the area a desirable one. 

Contrary to popular opinion, the number of properties an agent has sold in the area isn’t as important as the aforementioned, but is still a major deciding factor when considering an agent.

The property owner should be confident they are in the hands of an expert. If the agent can’t convince the owner, then they will not be in a good position to convince potential purchasers of the real value of the property.

Tip. 2: Avoid hiring an agent just because they’re the most affordable.

As with any other product or service, you get what you pay for. If a vendor (you) can negotiate an agent down in fees, what confidence would the vendor (you) have in the agent’s contract negotiation skills to get the best price?

Logically if a good agent has several property listings where they are getting full or close to full fees, and one worth half the fee – where do you think their focus will be?

Consider why you are hiring them. Is it because they’re the cheapest or truly are the best person for the job? The best agents are great negotiators, committed and motivated to get the best possible outcome for their client.

Tip. 3: Use a suitable property portal to select the right agent for you.

Property owners can use a reputable property portal or referral service to evaluate different agents. These services can help you find the right agent to sell or lease your property by helping you:

•    Find and compare high-performing local agents
•    Compare agents’ commission, fees,  and levels of experience
•    Contact different agents (some services also allow you to make anonymous voice or video calls to get to know agents)

Some of these services also provide customer reviews of agents and agencies, and supply free reports on your neighbourhood and property to help you make the most informed decisions.

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This article via Your Investment Property does not constitute advice; readers should seek independent and personalised counsel from a trusted adviser that specialises in property, a tax accountant and property design specialist.