Published on October 4th, 2017
Real Estate Myths Exposed!Myth 1: I don’t need a real estate agent
Negotiations for house sales are always best where sellers and buyers have an experienced mediator. Selling your home privately can be fraught with high tensions and emotions if you don’t have the knowledge and understanding! Even other industry professionals engage the services of an experienced agent – “I am a property valuer with over 40 years of experience, so I thought I had a mature understanding of what an agent does. Troy, gave me better insight, such that I now more fully understand and appreciate what a quality agent does for his client. He was able to negotiate a sale $40,000 over my expectation.” Additionally, buyers in today’s market are incredibly savvy and when they see an owner trying to save on agent commissions they will just offer less. It really does happen!
Myth 2: The best agent offers the cheapest commission
This is simply not true. The best agent to sell your property should have a proven track record in your area, understand the current market and most importantly understand you! They should be the agent that you feel most comfortable with and with whom you have the most confidence in to achieve the very best outcome. If an agent on your first meeting is happy to drop their commission straight away how does this reflect their ability to negotiate the highest price for your property? Often the best agents don’t offer the lowest fees however this is indicative of the quality service you can expect to receive. Don’t just assume that “cheaper is better” when selling your biggest asset.
Myth 3: It’s expensive to sell by Auction
This is a long-held misconception. The only additional cost to your marketing campaign is that of a licenced auctioneer which is around $400.00. By taking the price away and running your property through an Auction campaign the $400.00 you pay your Auctioneer may in fact make you $40,000 on the day!
Myth 4: Engaging a Property Manager for my investment is a waste of money
Whilst engaging the services of a professional Property Manager will cost you a percentage of your rental income, it may save you far more in the long run. Property Managers do not simply collect your rent. They are responsible for:
• Finding the best possible tenant and achieving the highest possible rent
• Regular routine inspections to ensure that the property is being looked after to the utmost standard
• Staying up to date with the latest legislation in order to protect both the landlord and tenant
• All the hard stuff – chasing unpaid rents, angry tenants, late night emergency maintenance calls, residents who are not compliant with their lease terms, even evictions if required.
Property Managers do not simply sit back and collect your rent, they work incredibly hard to ensure that your asset is well maintained and continually providing you with the best return possible.