News & Advice Buying, Selling

“Should I make use of a property professional?” should be the first question which comes to mind before you enter the real estate market. Home owners looking to sell their houses often wonder why they should pay that extra money in commission and whether it is really worth it. This debate has gone on for years. When making the decision to make use of your local agent, here are a few things to consider:

Having an expert at your finger tips

“Whether you are buying or selling, it always requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds and multi page settlement statements. Having an expert to deal with this, will help you work through these processes quickly and more sufficiently. “Engel &Völkers property specialists do not only help and ease the process, but can also provide you with the correct information of a certain area such as schools zoning and more, as well as provide objective information about each property,” says Craig Hutchison CEO of Engel &Vӧlkers Southern Africa

Negotiating experience

There are many negotiating factors such as price, financing, terms, date of possession and the inclusion or exclusion of repairs, furnishing or equipment. Engel &Völkers agents have all received extensive training through their in-house training academy to ensure that they are expert negotiators who will always try and negotiate the best deal. Negotiating without a professional could result in lost opportunities in a transaction.

The power of marketing

Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends and family. When a property is marketed with the help of an estate agent, you do not have to allow strangers into your home. Especially in today’s market where obtaining a bond is not open to everyone, it is very important that your prospective buyer gets pre-qualified. This ensures that each person who enters your home is a prospective buyer and that you are not just wasting your time or opening yourself up to security risks.

Also remember real estate has a language of its own. If you don’t know what CMA or PUD is, then you will need a professional to explain these terms. Even if you have sold your home before, one thing to remember is that each year the market changes. Property specialists keep up to date with new market trends.

Emotions in selling

“Homes symbolises family, rest and security – it’s not just four walls and a roof. Because of this emotional bond that owners have with their property, it can sometimes have an effect on the buyer or sellers’ focus. Having a concerned but objective third party dealing with the process will help you focus on the more important things. If a seller has too big of an emotional bond to a property, the influence in the total sale could be disastrous” Mr Hutchison concluded.

Ethics

Every member of the EAAB makes a commitment to adhere to a strict Code of Ethics, which is based on professionalism and protection of the public. As a customer of an estate agent, you can expect honest and ethical treatment in all transaction-related matters. It is mandatory for agents to take the Code of Ethics orientation and they are also required to complete a refresher course every couple of years.

These are just a few of many factors that need to be considered when the decision arises of choosing whether or not to use a property professional. Many a time it is worth while rather paying the commission and hiring a professional than running the risk of losing even more simply because you were not informed.

Source: National Guide to Real Estate
www.nationalguidetorealestate.co.za

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