Top Signs that You Are Using the Wrong Sydney Real Estate Agent

Sydney Real Estate Market

• The Sydney real estate market can be a daunting experience. If you ask 10 people who have bought or sold a property in the last 12-months, I bet many of them will tell you about their poor experiences when dealing with real estate agents.

• Selling a property is a huge undertaking and consequences of using the wrong agent can have an enormous effect on your financial and emotional wellbeing.

• That said, we have pulled together a few tell-tale signs that you’re working with the wrong agent and need to shop for a new one.

Communication is key

Agreement

So you have signed an Agency Agreement and you have put your faith in your Agent. After your Agent actively courted your business – now you can’t get them to return your phone calls and you are left wondering what is going on with your property. Does this sound familiar? The lack of agent communication is the number one complaint of home sellers and purchasers. Your agent should be calling you after every buyer inspection with updates. They should also be sending you weekly reports giving you a clear understanding of buyer feedback and recent sales that might affect your property. If you are not receiving this level of service, you may be using the wrong agent .

Response of Agents

Your property is also effected by lazy agents who won’t return buyer phone calls and email enquiries. You want an agent that chases all buyer opportunities. When selecting an agent, test them by emailing them questions about current listings they have. Make sure they return the email within 24-hours. Have friends or family visit their open houses. Does the agent call them after their inspection? If not, you might be using the wrong agent.

Are You Listening?

Good Agent

A good agent is an ACTIVE listener. Since each sale is unique, you need an agent that will listen to your requirements, then design a sales program around those needs. There should never be a cookie cutter approach when dealing with people and property. When planning a sales program, your agent should be asking the following questions:

• When are you looking to buy/sell?

• What is your preferred method of sale?

• What do you expect from your agent?

• What is important to you in regards to the sale/purchase

• Is there any issues that will effect that sale that need to be discussed?

A good agent will use that information to build a sales program that is unique to your situation. If you feel like your agent is just talking at you and not actively listening to what is important to you, then you might be using the wrong agent .

Tell the Truth

Real Estate Agents Reputation

Real estate agents have a bad reputation, because some are less than truthful during the sale process. Many sellers complain that their Agent gave them an inflated idea of price when they were trying to list the property. Once the property was on the market, then the agent constantly told them that buyers thought the price was too high and they needed to lower their price expectations. A good agent will be brave and tell you the truth about the price of your property. They will back up their opinion with a detailed list of recent comparable sales in the area. Do not go with an agent that seduces you with an unrealistically high sale price. Professional agents will tell you the truth about price and have an honest conversation about how they came to their opinion. If your agent is not providing you with accurate information about price, then you might be using the wrong agent .

Since many Sydney properties are sold by auction, buyers’ main complaint is that agents give them unrealistically low price guides during the auction campaign, so they waste their time and money pursuing a property they never had a real chance of purchasing. Agents that underquote hurt the whole process and do a disservice to buyers and sellers. Professional agents should be setting realistic price guides based on recent sales of similar properties. During the campaign, if properties look like they have interest over or under the original price guide, it is the agents’ responsibility to keep the owner and all interested buyers updated to any changes to their opinion on the sale price. Not doing this is unethical and against the Department of Fair Trading regulations. If your agent seems to be quoting an unrealistic price, then you might be using the wrong agent .

Knowledge is Power

Agents knowledge

• Many agents are good at promoting themselves, but they are a bit vague on details when it comes to things about your property or the local area. Your agent needs to answer all enquiries knowledgably and have a strong understanding of any issues that affect the sale of your property. A good agent will:

• Have detailed knowledge of any development in the area

• Know local schools catchment areas

• Understand local building regulations

• Identify Local transport links

• Take the time to go through and list all unique features of your home

If your agent is not able to talk knowledgably about those things, you might be using the wrong agent.

Final Word

Expensive Exercise

Buying and selling property is an expensive exercise and one that people usually only do a few times in their lives. Finding the right agent requires some research. Go to open homes in your area, see which agents are following you up after the opens. Email questions to agents via real estate websites. See which agents respond to your emails. Ask friends and family who have recently bought or sold and see what agents were good to deal with. Finally, interview agents and see which ones provide you with detailed market information and design programs that meet your individual needs.

Megan Bruton

If you are looking for a professional Sydney agent to guide you in your next property sale or purchase, Megan Bruton of BresicWhitney’s Hunters Hill office is a well-regarded agent with over a decade of experience. With a background in corporate marketing and a passion for property, Megan is well place to offer you advice on all your property needs. She can be reached on 0422 224 503 or meganb@bresicwhitney.com.au