10 Things You Didn’t Know About Melbourne Real Estate Agents

Melbourne, Australia - To an outsider, the job of a real estate agent looks pretty simple and straightforward. In reality however, each day can be as varied as the people they work with.

As a good Melbourne real estate agent will tell you, a property entails much more than simply brick and mortar. Rather, it is about people. Top-performing agents understand that, while the process of selling may be tough and trying at times, it is their job to support you. They know they need to be the objective experts that always try to secure great outcomes for all the parties involved.

The top performers possess an extensive understanding of their areas of operations, have incredible sales stats to support their claims, and are comfortable speaking with people from all cline and colour.

Having said that, here are 10 things you had no idea about Melbourne real estate agents.

1.    They do more than you think!

Real estate agents are qualified and licensed to perform real estate transactions. An agent can put your home for sale, show the homes to prospective buyers, take buyers through the process of buying a property, and take care of all the paperwork involved in a typical real estate transaction.

Also, the common practice with Melbourne real estate agents is that they will market your homes especially those they have listed.  Therefore, in case you are selling, your agent will include your property in a newsletter and even post the best photos of it online. Below are more tasks that an agent performs:

¢    They seek out prospective vendors and identify potential buyers of your property

¢    They promote sales of properties through various means like an open house, brochures, and online and print listings

¢    They often advise their clients on the prevailing market conditions, legal requirements, prices, mortgages, and other related matters. These include things like financing, repairs, maintenance, appraisals, and construction work among other things.

¢    Presenting properties in the best possible light and also accompanying potential buyers during inspections.

¢    Writing vendor reports, preparing contracts, appraising properties, helping negotiate terms between sellers and buyers, and facilitating settlements

¢    Putting together networks of lenders, contractors, and solicitors upon whom the clients may be referred.

2. An agent gets you more money

¢    The prospect of using FSBO to sell your house might give you a false illusion that you will get more money. Sure, you'll get to keep all the proceeds from the sale. However, involving an agent is likely to fetch you as much as 30% more than what you will get if you go it alone.

¢    Also, you will most likely part with the commission fee anyway if your buyer has an agent.

¢    And if you are the buyer, there is no reason not to use an agent. The seller, not you, is the one paying the commission, after all. It might look like not using real estate agents will save you money but the truth is that it will lose you money!

3.    They are skilled negotiators

The very top performing Melbourne real estate agents are also astute negotiators who are trained to get the best price for your property. They will help to eliminate your stress and emotion and other issues that usually arise when selling or buying your property. Their strong grasp of negotiation principles enables you to knock off or add additional tens of thousands of dollars to your property.

If you want to sell your home, you'll get professional agents to help you negotiate the best possible price for you. Similarly, there are qualified and professional agents that work exclusively for the buyer.

Their job is to find and buy the Melbourne property that suits your budget and needs. They also have the experience, network, and qualifications to ensure you get the best prices for your property.

4.    They will be brutally honest with you

Every home seller hopes their property will fetch top dollar. When you want to sell your house, it is recommended that you invite at least 3 agents over before you pick one. So what do most people do? They like to choose the agent that suggests the greatest listing price.

But this is a foolhardy move. Best Melbourne agents will back up their price suggestion with local data and won't just tell you what you want to hear.

They won't go along with your pricing fantasy as this might mean they won't be able to produce a sale. Melbourne real estate agents tend to price low and spark a bidding war that then drives up the price of a home.

5.    They are proactive with the sales process

Unlike what you may have thought, many real estate agents are always proactively calling up potential buyers about your home. They will remain in constant communication with their existing customers and are constantly chasing new leads. They believe that the secret to being on top of your game is keeping clients properly informed. Clients shouldn't be the ones who keep calling. This means they don't have enough information.

6.    Real Estate Agents are Client-Motivated

The simple principle guiding a real estate agent's work is that if their client gets a good deal, they also get a good deal. Most clients will put your needs first because they are direct beneficiaries of a sweet deal. Most great Melbourne real estate agents will, therefore, put the needs of their clients as their top-most priority.

Agents know that the process of buying or selling your house can be stressful. For this reason, they ensure that you always feel happy and supported.

7.    They have a great understanding of the local area

Real estate agents don't just sell a home. Rather, they also sell the life that accompanies it. For them to pull off this, they have to possess a great understanding of their locale.

They will know the area like the palm of their hands. Think bus and train routes, local planning regulations, and nearby activities for children. This thorough knowledge of their local area puts them at a great advantage to find you a buyer or a home more easily than if you had gone alone.

8.    Agents are Resourceful

Real estate agents usually work with other professionals that you may require during your buying or selling process. These include home inspectors, mortgage consultants, title companies, and attorneys among other professionals. In case there is a complication during a real estate process, your agent will quickly recommend the best professional to bail you out with your specific situation. Also, tools like multiple listing services enrich an agent with a wealth of market data. You won't always get this information from most consumer real estate websites.

9.    Proficiency in Managing Transactions

Even a sale that looks clear-cut and straightforward can be derailed unless the parties to the agreement honour deadlines and watch out for potential problems.  Whether you are looking to buy or sell a property, going it alone has risks of making errors that experienced professionals will have avoided. An agent will correct all the problems with purchase agreements and make sure repairs and inspections are done in time. They will keep both parties on track to close the deal.

10.    They can Help You More than you think!

When you choose to work with the top real estate agents in Melbourne, you can expect the following:

¢    They can help with finding a lender to pre-approve you for purchasing a home

¢    They will help you to find a home that's best for you according to your situation

¢    They will connect you with professionals like title agents and home inspectors among others.

¢    They will negotiate an offer on your behest (whether you want to sell or buy)

¢    They'll be of immense help to you in navigating the mortgage process

¢    They'll attend home appraisals and inspections on your behalf

¢    They'll advise you on how to price your home so that you sell fast and for top dollar

¢    Real estate agents communicate with other parties during the sale process

¢    They will screen all potential buyers to ensure they are qualified

In short, real estate agents will represent you during a home selling or buying process.  However, they'll not try to force you to do anything you don't feel like doing. They will still need to get your nod to finalise deals.

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