Instead of relying on a gut feeling or being influenced by a great pitch, the listing presentation is an ideal opportunity for you to learn more about the market, understand the agent’s approach and past performance, and decide who you trust with the sale of your home.
Here are some key questions to ask your real estate agent - and what you should be looking for in their answers.
1. How long have you been an agent in this area and how many comparable properties have you sold recently?
Understanding your agent’s experience is key to finding the right agent for you. It’s not necessarily about years in the industry, but the agent’s relevant, local expertise and market knowledge that will give insight into how active and engaged they are in the market right now. A young agent with only a short amount of experience but a lifetime in the area may be a better option than a great sales agent with no local suburb knowledge.
An agent with consistency of sales in your suburb is more likely to understand pricing nuances, buyer behaviour and how to position your home effectively. Ask for at least five similar sales where the agent can demonstrate their local market knowledge and how they marketed the properties through to sale. Look out for details on list price versus sale price, days on market and buyer interest.
2. Is now the right time to sell?
It’s difficult to know when the right time to sell your home is, especially when the market is changing. Attending open homes and auctions of comparable properties not only gives you insight into your potential agent, but allows you to see buyer engagement and demand.
To get a clearer idea, ask the agent to explain the current market conditions clearly including comparable sales, average house prices and auction clearance rates. It’s also worthwhile to gauge if the agent is keeping on top of broader economic factors that could be impacting the market such as interest rates and government budgets. A well-informed agent should have credible insights to help you understand the market, you can learn what’s happening in the market in the monthly Ray White Now report, or ask your local agent about Ray White Now Localised, for a more suburb-specific insight.
3. What price do you think my property can achieve?
Understanding an estimated price range is an important step in preparing to sell your property, and there’s key things your agent should be able to talk about when explaining how they’ve arrived at their suggested price. Most importantly, an appraisal should be evidence-based and transparent, showing that the agent understands the local market. A reliable appraisal will be based on recent comparable sales in your area - and take into consideration any differences between those properties and yours, including any features that add or reduce value. It should also draw on local trends, current market conditions and buyer feedback from similar homes.
4. How will you find the right buyer?
Selling your property can be an emotional process and the ‘unknown’ around buyer demand may affect your choice of agent - or your decision to sell altogether. The right agent should be able to talk you through their existing buyer database and specifically buyers who are ‘ready to act’. But where’s the proof? It’s important to distinguish between the agents who just talk about their available buyers, and those who can actually show you.
Ray White’s Smart Buyer Match uses intelligent technology to identify potential buyers that agents can share in real time at the very first listing presentation. With Smart Buyer Match, you can see the active, motivated buyers who match your property based on house size and features, price, location, and their engagement history. It also uses data from across the whole Ray White group, opening your property up to more than just the local market.
Read more about Smart Buyer Match or ask your local Ray White agent.
5. How will you make my home stand out from the competition and how much will I need to spend?
Having a clear understanding around your agent’s marketing strategy - and the costs involved - will give you an insight into their approach to helping you sell and what you can expect when you list with them. Ensure the agent talks you through the channels they’ll use to reach buyers (online portals, social media, email marketing, signboards, brochures, etc.) and why they believe those channels are the best fit for your property and target buyer. They should also give you a clear outline of expected costs, how they’ll measure success and how they’ll differentiate your property from others on the market. Marketing isn’t just about spending more; it’s about spending effectively.
6. How long will it take to sell my property?
While no agent will be able to give you a set date or guarantee a timeline, the right agent will be able to give you a realistic range based on the market. They should be able to give you insight into average days on market for similar properties, current buyer demand and inspection attendance and seasonal trends. Ray White agents can see buyers’ real-time engagement history in Smart Buyer Match, including enquiries made, inspections attended, contracts held and offers made - meaning they’re able to advise on buyer behaviour, and demand, in greater detail.
7. How will you keep me updated on the sale of my property?
Overall, the listing presentation will give you an idea of not only the agent’s experience, insights, past performance but also their communication style. You’ll want to find an agent who is transparent and keeps you up-to-date with things like buyer feedback, enquiry levels and how they’re managing offers or preparing for auction.
While a typical agent may be able to outline their style and frequency of communication, Ray White’s Property Portal takes transparency to the next level. During the sales process you can log in to the Property Portal and access real-time updates to see how the campaign is progressing, without having to wait for a call back from an agent. You’re able to see buyer feedback, key insights, market activity and live updates on open homes, meaning you’re always kept up-to-date and can clearly see what your Ray White agent is doing behind the scenes.
