Doing homework on local agents before settling on one to sell your house is a must for vendors, according to top Christchurch real estate agent Nathan Najib.
The owner of Najib Real Estate in central Christchurch says research is crucial in any market, but especially in a tougher market like now. Study local agents, he says, to find one who will go the extra mile to get the best possible price for your home.
"In a great sellers' market, like we've had for the last couple of years, anyone can sell a property and get a good price for it," says Najib, who started his real estate career at 18 and has owned his own business for the last six years.
"Buyers were so worried about missing out that they were paying a lot of money. Now things have changed; it is a buyers' market and prices are on the decline. No longer can an agent simply get a listing, take some photos, and put it online to get the best price.
"At times like this, vendors need to make sure they have a truly professional agent on their side; someone who is diligent, has great systems and strategies in place, and who can give you accurate advice that can make you thousands of extra dollars come sale day."
Many people believe all agents are exactly the same, he says: "This may have been the case years ago, but the market has changed, consumer behaviour has changed; but most agents and agencies haven't adapted over the years."
But how do you know you're signing up someone who is really good at what they do?
"That's where doing your research comes in," says Najib, advising sellers to, for example, go to an agent's open home. "Does the agent turn up early? Does the house they are selling look immaculate? How do they deal with the customers? If you don't feel comfortable with an agent, neither will your buyers. Unfortunately, there are a lot of agents who will tell you what you want to hear, rather than what you need to know."
The real question is how an agent adds value, rather than just listing a property on Trade Me Property or realestate.co.nz. Most importantly, an agent needs to be a skilled negotiator; there is a process and a science in achieving a premium price.
Don't rely, Najib says, on testimonials agents post on their websites: "People only put the good ones up; they don't post any that are bad."
Word of mouth and recommendations from people you know is a good place to start but, if you really want to know what an agent is like to deal with, track down people whose homes they've sold recently.
"Ask the agent who their most recent vendors were, get their phone numbers and ring them up and have a conversation," says Najib. "Ask them what the agent was like to deal with and what their strategy was."
Those uncomfortable with asking agents for those contacts outright may want to do a bit of sleuthing. Their website will show the addresses of homes recently sold – knock on a few doors, advises Najib.
If the vendor is still there, they can tell you about their experience with the agent. If the new buyer has moved in, you can find out how things went from their perspective. For example, what was the agent like to negotiate with? How proactive were they when it came to dealing with the buyers?
It may take a bit of time but, when it comes to the sale of your biggest asset, it is worth putting in the effort to get the best person on board, he says – adding that a really good agent will be authentic, transparent and have your best interests at heart.
They won't over-promise what your home is likely to fetch, only disappointment when there's no interest at that level. They will also have great product knowledge: "They've got to know what houses are selling in the area, what those houses are like, and what they have sold for – and I don't mean six months ago, those prices are no longer relevant. They need to know what has sold in the last few weeks."
A great agent will be easy to contact – if it takes them days to get back to you, that's not a positive sign – and a good communicator. You want someone who will explain processes clearly and stay in touch regularly to keep you updated once the house goes on the market.
Marketing needs to be top-notch, with every detail the buyer could possibly want to know about the home easily accessible on the website, he says: "If there is no information such as open home times, or rates and insurance, then why should buyers waste their time? In this market, and when people are time-poor, they will go and look at other listings that have that information."
Najib Real Estate uniquely includes a price guide in the marketing of all homes, including those that go to auction. With a price guide, vendors and agents are on the same page and, importantly, it brings in the right buyers - those who know they can afford the home.
For agents to get the best possible price, they need more than one keen buyer in that range; putting a price guide on a home gets in the right people and creates competition between them.
"A price guide doesn't mean you can't get more," says Najib. We recently had a house with a price guide of $795,000-$865,000 and we sold it for $905,000 because we got the right buyers in – local, national, and international buyers who could all actually afford the home."
For more information: najibrealestate.co.nz.
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