select
|

Benefits qualified agents bring to property transactions

For most people purchasing a property will be one of the largest financial decisions they will ever make in their lifetime. Due to the fact that it is a decision that will impact their financial well-being far into the future, it makes perfect sense to seek out the expertise of a trained real estate professional who will be able to guide them through the process.

“If managed in the right way, property can be the cornerstone of wealth creation. It is an asset class that has the potential to be just as profitable, if not more so than the stock market - provided the correct decisions are made. With so much at stake, it is advisable that homeowners wanting to sell a property make use of a professional estate agent to ensure that the sale is successfully concluded,” says Bruce Raasch, Broker/Owner of RE/MAX Property Professionals in Queenstown.

There have been significant developments within the real estate industry over the last decade, most notably the fact that real estate agents are required by law to have completed certain qualifications before they can handle a property transaction.  The agents who are working within the industry today are recognised as the professionals they are and are able to add even more value to a property transaction than ever before.

According to Raasch, estate agents have a wealth of knowledge regarding the ins and outs of property transactions that will assist in selling a home in the shortest possible time for a fair market value. He adds that it is their extensive knowledge of the industry and access to a variety of statistics and property tools that enable them to correctly determine fair market value. “In addition, estate agents have relationships with bond originators, which will assist both the buyer and seller. A bond originator can prequalify buyers to ensure that they are looking at homes that they can afford, which will help sellers avoid having to deal with buyers that won’t be able to purchase their home. This will prevent the sale from falling through due to the lack of access to credit or affordability issues,” says Raasch.

The value added services that estate agents provide in marketing the property are invaluable. Among other tasks, generally estate agents will take photos of the home for sale, list them on a website, pay for the costs of advertising, arrange viewings and show days and manage offers.  Aside from access to all legal requirements and documentation for the sale transaction, estate agents also have a network of contacts and sites that they access to source potential buyers. 
 
Due to the nature of property sales and the huge financial impact these transactions have on people’s lives, it is important to select an agent that is credible and will do the best job possible. So how should sellers go about selecting a credible agent?
Raasch says that sellers should find out the following things when interviewing prospective agents:

- Ask how well the agent knows the area and their insight into trends and selling prices
- Inquire about credentials, licensing and areas of expertise. Qualified agents must and will present you with their own unique - Fidelity Fund Certificate. If they don’t have one, they may not practice in the real estate profession.
- Ask about the types of homes the agent typically deals with.  Are these similar to what you are buying and/or selling?
- Ask about the marketing plan for your property
- Ask how often the agent will provide you with feedback
- Ask for a list of references from previous clients
- Ask about the average number of days homes listed through the agent remain on the market
- Ask what percentage of the asking price, on average, the agent has received for the homes sold during the last year
 
“It is vital to select a reliable agent from the start.  Both buyers and sellers who have a good relationship with their agent and trust their agent’s expertise and knowledge, usually buy or sell a property smoothly and within a good time frame,” Raasch concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Nov 2017
      The buying process is over, and the moving truck has delivered your household goods to your new property. Now it’s time to unpack and turn your new house into a home.
    • 21 Nov 2017
      When an offer to purchase a property is signed by both buyer and seller, this constitutes a binding agreement or “Deed of Sale” between the two parties. However, in most cases the “standard contract” might not be enough to cover all the specifics pertaining to the sale. The agreement may require some additions or alterations to clauses, which needs an expert hand in the drafting of such
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK