Does getting to know your real estate agent give you an advantage? Relationships are all about two parties, and the better the relationship the better the outcome for all involved. Agents can provide both sellers and buyers with detailed market insight to help provide the best possible chance of a successful sale or purchase. So how do you use what you know about an agent to build a relationship that matches with your goals and needs?
What can an agent offer me?
Purchasing a property doesn’t need to be a solo operation. An agent can offer you sound, confidential advice whilst assisting you in setting your selling price or limits and structuring the other terms of the sale that are important to you, such as the settlement period. Additionally, you’ll have peace of mind knowing an advocate is working on your behalf to help achieve the best possible terms. Working with an agent who knows the market well, and is diligent about staying up to date with changes can make all the difference. The idea of forming a relationship with an expert agent is to place you in the best possible position when it comes to negotiating.
Clear requirements help define your objectives with an agent.
It’s important as a seller or buyer that you have a clear set of requirements, and out of those requirements, you know which ones could be compromised if need be. Of course, you’ll need to know your limits (financially, geographically, etc) but these factors should be shared confidentially with your agent so they can start to form a clear plan for you, placing optimal properties forward to buyers or proactively seeking appropriate buyers for sellers. Having a good relationship with an agent can provide you with first-to-know insights. These insights could be about the market, changes to prices and valuations, properties for sale or recent sales to gain an understanding of market conditions. These insights help you understand the opportunities and potential challenges within the market and together – overcome them. So how do you form a successful and lasting relationship with an agent? Here are four essential tips we recommend.
1. Strong Communication
It sounds simple, but the first and most important step in an agent relationship is to have open, honest and frequent communication. Ensuring the communication is transparent which includes upfront discussions regarding costs – including advertising, commission and any additional promotional costs or available purchasing limits. Discussing these topics upfront will help your and your agent be aligned throughout the process.
2. Explore the reputation, so you can build trust
Look for an agent with a solid reputation, and ask them about their experience, recent and past sales. Being known within the local area as the go-to expert in delivering outstanding results with a quality approach is imperative. A strong agent will be able to look after you throughout the entire process, with customer loyalty as one of their top priorities.
3. Work together
Ensure your agent respects your needs and time, whilst respecting theirs. Set up regular times for updates, and agree on a preferred method of communication so that you can reduce the stress of the process.
4. Ask for support and tools
An experienced agent will have access to a range of helpful tools for both buyers and sellers. So ask them for their checklists, and a list of actions that you should consider to help you through the process.
Set yourself apart.
Gaining an advantage in real estate requires a compatible relationship with your agent. When it comes to progressing formally with a sale – an agent with a track record of excellent results will be crucial. Working together, you’ll be able to set yourself apart from other properties on the market, or prospective buyers because you’ll have market insight with a clear understanding of property valuation.
For buyers, of course you’ll also be one of the first on the scene which in itself provides you with a buyer advantage.
