What should I consider when looking for an agent to list my property? Director of Consumer Affairs Victoria, Claire Noone, recently gave some great tips for ensuring the agent you choose is right for you and your property.

"While an improving property market may be making life easier for sellers, there's a significant financial benefit that occurs in choosing the right real estate agent. Selecting the right agent, working with them to market your property and negotiating the commission and advertising expenses will save you money and help avoid problems," she explained.

The situation in Victoria and the points raised are currently very applicable and valid for other Australian states as well, including Queensland.

Here is Claire Noone's checklist for finding the right agent:

• Find real estate agents with local area knowledge: This may seem obvious but it's surprising how many times sellers focus on others issues and don't look at a proven track-record for their selling agent, their expertise in that particular suburb including what type of property they usually sell, and how long they have been selling in that suburb.
• Get several agents to appraise your property: Be informed! So unless you have very good reasons, get more than one appraisal before deciding on your agent of choice
• Do not just choose the agent because they've given you the highest estimated selling price: This is a very good point as we often hear "I listed with agent X because they said I'd get $50,000 more for my unit". Just because an agent appraises at a higher price is does NOT mean you will actually achieve that price. Remember: it's not the agent who determines the price that your property will realistically achieve but the buyer and the buyer market! So, knowing the buyer market in your suburb and their current trends is more important than ever.
• Consider marketing plan, commission, advertising costs and other outgoings: Often not properly considered by sellers this point can really save you money in the long-run. Reducing commission or paying internet advertising may sound fabulous, but what about all the other costs? Other marketing, photography and listing costs? All outgoings need to be considered, not just an individual item.
• Do not sign a sales authority unless you're ready to engage the services of that agent - there is no cooling-off period after signing a sales authority: Once a real estate appointment form PAMD22C is signed then that's binding, even if you decide a day later that you would really prefer a different agent to be selling your property. An exclusive listing is for 60 days so you cannot engage the services of another agent in this 60-day period.

... and if your preferred agent has ticked all the
boxes then it's time to get your property listed for sale in the knowledge
you've "done your homework". It doesn't guarantee a quick sale for a great
price but it may avoid 'If only I had ...' regrets later on.