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Selling my home > Arranging the sale
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Estate agent
Choose a reputable estate agent based in your area.
Benefits of an estate agent
- They help you to estimate accurately the price at which to put your home on the market
- They bring buyers to your home with the minimum inconvenience to you
- They guide you through the intricacies of accepting an offer from a prospective buyer
- They help you through both the pre-settlement and settlement process
Does the estate agent protect the buyer or seller?
All agents are bound by law to deal fairly and ethically with the both buyer and seller. Because the seller usually hires the broker (this is confusing as there is no explanation of the broker's role), a broker and agent's legal obligation is to the seller. It's up to you to make offers and accept counter offers. So be on you toes.
Do I have to work with only one estate agent?
No, But having one reliable agent improves your chances of receiving excellent service.
What is a mandate and are there different kinds?
A mandate is an agreement between you as the seller and the estate agent to market the property. A sole mandate means that you give only one estate agent this permission. An open mandate means that the property is on the books of more that one estate agent.
How do agents get paid?
They operate on commission which is payable by the buyer. The commission varies but is usually in the region of 7% of the purchase price of the property.
The selling price
Look at houses in your area that have similar features to yours and note the prices people are asking. House prices are determined by supply and demand. The worst time to sell is during school holidays.
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