Selling? Here’s what to ask your real estate agent

Now it’s time to get into the nitty gritty as you drill down to exactly what you and your house need in order to achieve the best possible result.

Here are five questions you should be asking your agent…

How much will it cost to sell?

Of course, every buyer wants to know how much their property might sell for, but what about how much you’re forking out to get the deal done?

Residential agent Jason Smit from Brisbane’s Sparrow Real Estate says it’s important to find out exactly how much the whole process will cost, and not simply settle for the first quote an agent provides.

“What are the upfront costs, what are the costs if my property doesn’t sell, how negotiable is the agent on their commission fee and can they justify their commission fee?” are just some of the things you should be asking your agent, Smit says.

“Since the deregulation of fees, there’s a lot of variation between different agents’ fees. It’s about justifying the price that you are paying. A more expensive agent might very well have justified fees, but it’s just about getting that justification rather than blindly accepting that the fee they tell you is the fee you should pay.”

How should the property be sold?

An auction might not always guarantee your property sells for top dollar.

Jellis Craig Armadale senior sales consultant Carla Fetter says you should always question which approach will work best for that specific house.

“We go to auction nine-and-a-half times out of 10 but sometimes other properties would benefit from a different type of campaign.

“Don’t presume that it has to be an auction. That process is really important to understand,” Fetter says.

Is now the right time to sell?

You want to dive in and start generating interest in your property. But could a couple of weeks make all the difference?

Fetter says you should ask your agent when they think the optimum time is in order to attract more potential buyers.

“While the market is currently very buoyant, if you’re selling a great family home in the depths of winter, maybe that’s not the best approach.”

“We would tell people to wait and not market the first two weeks of their campaign over a school holiday period… or Easter and other times like that,” Fetter says.

Is an upgrade worth it?

A lick of paint and some new carpet can go a long way when it comes to enticing potential buyers, but Fetter says you should ask your agent’s advice on how to get the most bang for your buck.

She says in many cases a gleaming new bathroom or kitchen may not deliver the kind of return you’re hoping for.

“A lot of people have these wild ideas about what they should do and more often than not, it’s not the right strategy.”

“Sometimes people think that if they renovate their kitchen, and do it cheaply, that it’s all of a sudden going to drive their price up $100,000 in value. But typically, the properties that require updating actually attract a bit more interest because people often want to do their own thing and add their own mark to a home,” she says.

What’s the best way to advertise?

Online? Print? A combination of both?

Ask your agent how to get the most appropriate buyers’ eyes on your listing.

“Vendors don’t necessarily ask or don’t understand the difference in advertising options available,” Smit says.

“Find out what type of online advertising they’re getting, rather than just assuming it’s all the same and that you’ll always get the best.”

Fetter says if your property is likely to attract an older audience, print advertising may be more effective than online.