How to choose a professional estate agent

As most estate agents get appointed through referrals the first step in choosing an estate agent should be to ask family, friends and neighbours who they can recommend.

Another way of choosing an agent is to look at advertisements in the news media and the internet to see who specializes in selling homes in your area. RE/MAX agents are not restricted to specific areas but some agents specialize in specific areas to become area experts.

You could also call or visit the estate agencies of your choice and talk to them about selling your home. The first step in building a relationship with an agent is to ask a few agencies to recommend someone and let them do a free valuation of your property before appointing anyone. Get as much information about their background, how long they have been in the business, their level of knowledge and their expertise.

It is important to confirm that the agent you appoint is registered with the Estate Agency Affairs Board (EAAB) and have been issued with a valid Fidelity Fund Certificate or a licence to operate as an estate agent by the EAAB. Make sure that the Fidelity Fund Certificate is valid for the current year.

Professional estate agents will use market research methods, along with knowledge, experience and expertise to establish the best possible selling price for your property. When you have chosen an estate agent you will be asked to sign a mandate document. This is an agreement in which you instruct the agent and agency to market your home.

Estate agents in general work on a commission basis and will only be paid for their services once your property has been soled. As the seller you will be asked to pay a percentage of the selling price of your property as commission or agree upon a fixed monetary amount. There is no fixed commission tariff. As the seller you must negotiate the rate with your estate agent.

The estate agent’s tasks are to . . .

• establish the selling price of your property,
• market your property as agreed upon through promotional material, advertising using various printed and electronic media, show houses, special views, etc,
• liaise between you and interesting buyers who want to view your property,
• present all offers that have been received for your consideration,
• advice you and to clarify the terms and conditions in the offer(s) to purchase, and assist you in the registration process after an agreement has been reached and an Offer to purchase has been signed.