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SIX GUIDELINES IN APPOINTING AN AGENT TO SELL A PROPERTY
Speaking to a group of property developers from out of town, Anton du Plessis, CEO of Vineyard Estates, listed five do and don’t guidelines to be kept in mind when appointing an agent.
These, he said, are:
1. Unless you are absolutely convinced of his/her merits, do not appoint a person who is “just an acquaintance”, for example, your wife’s book club member or someone whom you met at parent teacher gatherings. Do not lose sight of the fact that any sale of fixed property is a business transaction – you need a business oriented professional handling it.
2. Ask yourself, is the agent likely to be able to relate to the type of buyer who will be suitable for your property. There is no point in getting an agent well past retirement age to sell a trendy penthouse in a modern block, but such an agent may be the perfect choice for a house in a retirement village.
3. Check that your agent works more or less full time in your area and is focused on it. In this tight market, the agent should not be selling property as a “hobby”. In particular, the agent must have in-depth knowledge of the suburb in order to convince buyers of the value of your property.
4. Check that the agent has been successful. Ask him to produce in writing a list of the homes he has sold in the last six months – with data on his valuation and the amount achieved. Ask permission to contact his previous clients. If the agent has not sold at least one home per month on average, he is probably not a top performer – though the rate of sale in the higher brackets is always slower.
5. Ask what other properties he is selling in the area. If he has many, query how much time he will give to your property. A big stock list is not proof of success – it may in fact be a reason not to appoint someone. See if the agent is able to tell give fundamental but vital information about the size of the erf and the size of the dwelling.
“In my opinion, no agent can handle more than ten properties at one time with real efficiency,” says du Plessis, “If they take on large numbers, they are likely to delegate important work to less qualified assistants.”
6. Follow your instincts – do you feel you can trust this agent? Do you feel you could accept his word on all occasions? Do you feel that the agent will place your interests above their own? Bear in mind that in many cases, your decision on accepting an offer is based on feedback/guidance provided by your agent.