Selling your home via a sole mandate if often the best option for the quickest sale at the best price, but there is always the worry of an agent failing a seller.
If you are worried about this, says Berry Everitt, chief executive of the Chas Everitt International property group, you should ensure that there is a service guarantee in place when you award the mandate that gives you the right to terminate if the agent doesn’t perform according to the agreed marketing plan.
To get the most out of the relationship with your mandated agent, advises Adrian Goslett, chief executive of Re/Max of Southern Africa, first-time sellers should be as open and honest as possible.
“Never feel embarrassed to ask if there is something that you do not quite understand. As experts in their industry, real estate advisers are there to guide sellers through the process, but they might not always think to explain the jargon they use.
“By being upfront with your agent and asking when you do not understand something, you will be better informed and better equipped to navigate the process smoothly, ” he says.
Q: My home is on the market but I have not received any suitable offers.
How long should I wait before I take it off the market? And if I do this, when should I relist it, and should I use the same agency or a different one?
A: The number one reason for not getting any offers or very few is that your asking price does not match the current market realities – what buyers are willing to pay for homes like yours in the same area. You should not wait too long and let your home become “shop soiled” in the eyes of potential buyers.
Your choice is either to make a swift price adjustment or to withdraw from the market and wait for prices to increase to a level that would make your asking price more competitive. Frankly, this is unlikely to happen for the next year or two. You can relist as soon as you like. Our advice is not to change agents or agencies unless you feel you were given the wrong advice. – Berry Everitt, chief executive of Chas Everitt International
*Article sourced from Property 360*
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