14 Tips to consider when hiring a Real Estate Agent

Finding a good real estate agent takes some research. Here are my 14 tips you should consider when hiring a real estate agent to sell your property:

1. Get a Sales History Report for your suburb and street.....find out what other similar properties have sold for in your area
2. Consider ordering a Valuation from a Registered Valuer so you know exactly what your property is worth in this market
3. "Phantom shop" the Agent: Visit properties for sale by an Agent you are considering - find out how they treat buyers because that is the way they will treat your buyers.
4. Make sure the Agent gives you a price guarantee - if they don't get the price they promise, then the fee is ZERO
5. Don't just choose an Agent because they charge the lowest commission - another agent that charges a bit more might be able to get you a much better price
6. Find a Good Negotiator - Be careful of Agents that negotiate on their commission. Agents that quickly reduce their own fees will only quickly reduce the price of your property. If they give away their own money, they will easily give away yours.
7. Be careful of the Agent that gives you the highest quote for your property.
8. Don't pay for upfront marketing costs. A confident Agent should cover these costs. However, you should consider paying for the costs of a good signboard and a professional photographer. For the small cost involved, these make your property present much better.
9. Interview Agents until you find one you like
10. Never hire an Agent you don't like
11. If the Agent insists on "open for inspections" - make sure they will take responsibility for any loss.
12. Ask the Agent to substantiate the price quote by comparing to other similar properties that have been sold.
13. Ask the Agent "How will he get the best price for your property?"
14. Get legal advice on the Agency Agreement before signing

The above tips are just a few things you should consider and are by no means an exhaustive list. 

If you are considering selling your property, make sure you get legal advice before you sign with an Agent. It is imperative that you get a Lawyer to have a look at the Agency Agreement before you sign.

Comments by Dean Carver

Property Lawyer and Strategist

Phone: (02) 9773 4550

Watch out for the Sewer that cuts across the property

Watch out for the sewer that cuts across the property.

I recently acted for a buyer who was interested in a property that had a sewer that ran straight across the block of land and under the house. It is important that you check the sewer diagram contained in the contract to make sure that you are aware of any sewer or proposed sewer that may affect the property.

A sewer that cuts in the middle of a property can have potential problems if you decide to rebuild in the future or if you wish to put in a swimming pool on the property.

The contract should also contain a letter from the relevant sewer/water authority that indicates that the Authority is aware that there is a property built over the sewer and that it complies with the Authority's guidelines and legislation.

Prior to exchanging contracts it is also suggested that you arrange for a plumber to have a look at the sewer diagram as well as an onsite visit to guide you regarding future development and problems with encasement of the sewer if the house is rebuilt or any further strengthening that may be required.

If you intend putting in a pool in the yard, also worth arranging for a pool company to have a look at the site and the diagram to advise whether a pool is possible.

These are general comments and you should discuss any purchase with your lawyer before you sign the contract.

Comments by Dean Carver
Solicitor at Carver Lawyers