Mark from St Helens has asked a very popular question: "My property is up with more than one agent. Which one should I choose?". Johnsy focuses on the benefits of choosing an agent as opposed to a developer and provides advice on choosing the right agent for each individual.
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Please see below the full transcript of the video:
Hi, and the latest question is from Mark from St Helens, and that is:
“I’m just starting out buying a property and the property that I like is on with a few different agents. Which agent should I choose?”
Now, I’m going to try to be completely impartial here with being an estate agent myself, but I would recommend that you don’t buy direct off developers. A lot of people think they’re going to get value there, but they usually lose out in the end. Actually having a third party involved in negotiating your piece has proven over the years to become really valuable.
Also, developers don’t really have the add-on services that are required to look after clients such as resale services and letting services, management services and maybe sourcing things like sourcing furniture. A lot of developers will look to just make as much money as they can from those services. Also, when you’re selecting an agent, what additional services do they offer? It’s always important to ask, you know, will you be able to resell this for you, and give me an exit strategy? Many don’t.
But also, don’t be drawn into cheap incentives. It’s more important that your estate agent’s around in 10 years time and most over recent years, like a lot of agents who have been offering the biggest discounts in the industry, are now no longer with us, and that’s no surprise because agents don’t make a huge amount of money for selling these properties.
Also, when you’re speaking to the agent, what kind of feel do you get for them? Do they give you a balanced view, you know, are they just full of sales patter? Or are they, you know, do they give you the pros and cons? Also, if you’ve got an agent who’s selling other properties, I would always ask them for an opinion on one of their other properties as well and ask for a comparison.
It’s quite easy then to tell whether the agent’s just trying to blatantly sell you a unit, or whether they actually know what they’re talking about and know the developments so they’re able to compare. So, recommendations, do they make sense to your particular property checklist of what you’re trying to achieve. And that’s it from me, thank you very much.
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