Sellers must take their time selecting their real estate agent

PHOTO: Tim Kearins, Owner of Century 21 New Zealand

“In a challenging real estate market, the agent is all-important. They need to be hungry, fully prepared, and have the skill to target the most likely buyers and keep them interested,” says Tim Kearins, Owner of Century 21 New Zealand.

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Mr Kearins says people, not advertising, sell properties in quieter or challenging times.

“It’s important for vendors to remember that even in tough times demand for property remains, with new buyers entering the market every month. A good agent and agency will find them and deliver a successful real estate negotiation and sale,” he says.

The Century 21 leader says prior to marketing, an agent should work hard with a vendor to settle on an acceptable agreed price. Accurately pricing a house from the outset is key, as is then defending that property’s price.

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“It’s more important than ever for vendors to engage a proven and proactive professional. Buyers are taking their time and throwing out cheeky offers, so vendors need an agent who can push back on their behalf yet still close a deal. In this market, advertising, charm, or good luck won’t be enough,” says Mr Kearins.

When choosing an agent, best practice includes requesting recent references, seeking out how they’ll attract the right prospective buyers and achieve the best possible price, who will manage the open homes, and how they’ll work with their colleagues to widen the net.

“Many vendors get disappointed that the agent they engage ends up not to be the one who fronts the open homes or potential buyers. Most vendors want their chosen agent to front every weekend, but they need to make sure that’s going to happen,” he says.

The realty boss suggests that vendors ask their agent to physically take them through their planned walkthrough. Knowing how agents will show a house will then help vendors better present it.

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“You also want your agent to stand by an agreed realistic sale price until all the options are exhausted. If a buyer can sense an agent doesn’t believe a property is worth what the vendor’s expecting, they’ll smell blood and start low-balling their offers,” says Mr Kearins.

A good agent will also be aware of government-assistant schemes first-home buyers may be eligible for, as well as any avenues and opportunities out there if buyers are having trouble securing finance.

Local Century 21 clients and offices have access to their own broker, giving the real estate brand a distinct advantage in the New Zealand marketplace where borrowing for many remains difficult to achieve.

“Many buyers presume it all begins and ends with the big banks. However, mortgage brokers like Julius Capilitan of Century 21 Financial do all the running around, to deliver competitive rates and greater borrowing flexibility than the traditional lenders,” says Tim Kearins.

Century 21’s international reach is increasingly appealing to vendors, given New Zealand is once again seeing more immigration. Every listing goes onto Century 21’s global website which can be translated into 19 different languages.