A good agent should have these qualities
Our current lockdown situation is challenging, but some of the measures in place also afford us opportunities to do things a little differently, including the selection of real estate agents which is far too often based solely on the property valuations presented.
“In real estate, the practice of offering extremely optimistic appraisals to obtain sole mandates does unfortunately happen,” says Chris Cilliers, CEO and coprincipal, Lew Geffen Sotheby’s International Realty in the Winelands.
Especially in our current situation, the highest valuation is seldom the best valuation. Furthermore, a valuation should always be expressed as a range between two values to allow the market to determine the ultimate price.
“These days it’s very easy to use virtual meeting technology to ‘meet’ and chat with prospective clients and to do a ‘virtual viewing’ with them while they walk you through their home with a video app.
“Marketing presentations can also be done via shared screen functionality and emailing the client relevant information before the meeting. So, if anyone wants a marketing presentation or a market valuation from us, it’s business as usual, we just won’t be sitting in the same room.
“It’s also important to realise that, at the end of the day, agents are only really in control of the marketing of a property,” says Cilliers.
The condition of the property when it goes to market falls to the seller and the eventual sale price of the property is ultimately controlled by market conditions, demand and the price that the seller is prepared to accept.
“Therefore, it’s imperative that sellers choose an agent and agency based on their marketing offering, together with the experience and track record of the agent and agency concerned.”
Ultimately, the goal is to achieve a speedy sale at the best possible price and, to do so, not only must the property be realistically priced for the current market, it must also be properly marketed, all of which require experience and knowledge and the backing of a reputable agency.
“The importance of a comprehensive marketing strategy when selling a home should never be underestimated, especially in a tougher market, as it can significantly impact the final sale price realised.”
A winning marketing plan
“Going forward, people will want to spend less time viewing homes in person and the ability to view a 3D walk-through at their leisure will limit not only a prospective buyer’s potential exposure to Covid-19, but will also save time. Strategic digital marketing can help agents reach a broad demographic of potential buyers at a pace never imagined during the reign of print advertising.
“An optimum marketing strategy should now include social media, database advertising, property search portal, and app placements, digital media showcasing, virtual and physical show days, outdoor boarding and high-end print material.”
However, Cilliers cautions sellers to also look beyond the digital aspect as even the best plan on paper requires a personal element for effective execution.