Choosing The Best Estate Agent | Ep2 - Season 3 (Move iQ Property Podcast)

Summary

In this episode of the Move IQ podcast, Phil Spencer discusses the crucial process of interviewing and selecting a real estate agent to sell your property. He emphasizes the importance of choosing the right agent over the price, as it can significantly impact the sale. The conversation covers topics such as understanding the agent's business model, their marketing approach, and the necessity of membership in professional bodies. Additionally, the podcast highlights the value of an agent's track record, the significance of a realistic asking price, and the importance of having a 'hot buyers list' to attract potential buyers quickly.

Takeaways

• 🏠 The podcast series is dedicated to helping listeners sell their property and is sponsored by Go To Group, offering a concierge service for various needs in the selling process.
• 🔍 Choosing the right estate agent is crucial, potentially more important than the price itself, as they will be instrumental in the sale of the property.
• 🤝 Interviewing agents involves assessing their expertise, personality, and how well they fit with the seller's needs and expectations.
• 🏡 Agents should provide insights on property presentation and suggest improvements to enhance the property's market appeal.
• 🏢 Understanding the agent's business model, including the hierarchy within their office, is important to know who will handle different aspects of the sale.
• 🌐 It's essential to inquire about the agent's marketing strategy, including which websites and platforms they will use to advertise the property.
• 📸 Questions about who will take photographs and create floor plans, and who will bear the cost, are important to clarify during the interview.
• 🏛 Membership in professional bodies and adherence to industry regulations can provide an additional layer of trust and security in the agent's services.
• 📈 Researching the agent's track record with similar properties, including sales history and market dynamics, is recommended.
• 💡 Having a 'hot buyers list' is beneficial; agents should be able to quickly bring potential buyers to view the property.
• 💰 Establishing the right asking price is critical, and it should be a realistic figure that reflects current market conditions and buyer sensitivities.

Q & A

What is the main focus of the 'Move IQ' podcast series?

The 'Move IQ' podcast series is dedicated to helping individuals sell their property, covering various aspects and strategies related to the home selling process.

What does the Go To Group offer to home sellers?

The Go To Group offers a concierge service that assists with various needs such as choosing the right agent, mortgage advisor, solicitor, surveyor, and even removals. They also provide online auctions and a committed buyer service to give sellers certainty and peace of mind.

Why is selecting the right estate agent considered crucial in the home selling process?

Selecting the right estate agent is crucial because they play a key role in the marketing and sale of the property. The right agent can significantly impact the success of the sale, even more so than the asking price itself.

What should one consider when interviewing potential estate agents?

When interviewing estate agents, one should consider their knowledge of the local market, their business model, the hierarchy within their office, and who will be handling the viewings, negotiations, and sales process.

How can understanding the agent's marketing approach benefit a seller?

Understanding the agent's marketing approach can help a seller ensure their property is advertised effectively, reaching the right audience and increasing the chances of a successful sale.

Why is it important for sellers to know where their property will be advertised online?

Knowing where the property will be advertised online is important because it helps sellers gauge the agent's digital marketing strategy and ensures their property will be visible on popular platforms where potential buyers are likely to search.

What role do professional body memberships play for estate agents?

Memberships to professional bodies are relevant as they provide a level of regulation and oversight, ensuring agents adhere to industry standards and practices. This can offer sellers protection and recourse in case of disputes.

How can sellers verify an agent's track record in selling similar properties?

Sellers can verify an agent's track record by asking about recent sales of similar properties, the duration of those sales, and any price adjustments made. This information can be cross-checked with public records or online property listings.

What is the significance of an agent's 'hot buyers list' for sellers?

An agent's 'hot buyers list' is significant as it represents a pool of potential buyers who are actively looking to purchase properties. Having access to this list can expedite the sale process by connecting sellers with pre-qualified and interested buyers.

Why is establishing the right asking price for a property important?

Establishing the right asking price is important because it sets the tone for the sale and influences buyer interest. An unrealistically high price may deter potential buyers, while a price that is too low might undervalue the property.

What additional resources does the 'Move IQ' podcast offer to those considering selling their property?

The 'Move IQ' podcast offers a members area on their website where individuals can access free resources such as checklists and tools to assist with the home selling process.