The process of selling your property is a complex one and not everyone does it many times over and has the experience to do it without making mistakes along the way.
The first step is to engage an Agent from a reputable agency that specialises in your area.
Too often an Agent is engaged by a Seller without doing the necessary research. The correct pricing is critical to the successful outcome. It is so obvious that an Agent that has not done a good few sales in an area can never be deemed to be an “area specialist”.
A starting point in the relationship between a Seller and the Agent is to sit down and discuss the Value Proposition that the Agent will bring to process. Don’t shy away from asking the hard questions like “how many sales have you done in the area” and “how many other Listings do you have in the area”.
Remember this is business transaction and not a friend or family nicety. Emotions cost money. Take note of the professional side of the Agent. The Buyer certainly will.
Establish from the outset what you expect from the Agent in terms of communication. Many Agents are notoriously poor at giving continuous feedback on interested Buyers as well as factors that from time to time may affect the sales process.
Decide whether you want to work with just one Agent, in which case it is a Sole Mandate, or an Open Mandate that allows many Agents to sell the property.
Be aware that the goal is to get Buyers to compete for your property and not Agents. A Sole Mandate takes care of that issue. Complete the necessary paperwork that goes with giving a mandate to sell your property. Remember to disclose all the facts around the ownership. Many a deal has collapsed at the last minute through an Agent not knowing those details. Issues like in-community marriage, Trusts and Company ownerships can be more complicated. As are the VAT and Capital gains taxes that sometimes need to be dealt with.
Approved plans are a must almost every single time. Sellers and Banks need them . The Title Deed is also an important document. Get them sorted out in the early stages.
An ABSOLUTE pre-requisite to doing the listing by an Agent is to have a Sellers Declaration completed and signed. If your Agent doesn’t present you with this, they are in default of the Property act. Remember also that a Sole Mandate has to have a defined end date.
Now come the real issues that I would ask the Agent for if it isn’t supplied…
*Copy of their valid FFC
*Marketing plan
*Attorneys preferred
*Marketing tools to be used. Drone, video and signage, photo’s, show-house days, etc.
Start the preparation of moving timeously. Many Sellers find themselves in a quandry if the Sale happens quickly.
Finally, remember it takes a partnership to make the deal happen and communication is a critical aspect in the process. Don’t neglect it.
Flirting with time! 