Seven Costly Sins - Sin #7

The final part in a seven part series, the 'Seven Costly Sins' that home owners commit when selling their home

Costly Sin #7- Engaging the wrong marketing agent

Many believe the sale of their home is an exercise best left to the professionals. Your choice for marketing agents is unlimited; you can hire a good agent or a mediocre agent, they all cost about the same. In order to get the best result when selling your home you need to be able to tell the difference up front. So how can you be confident that your agent is up to scratch?

Be wary of agents whose appraisals seem unusually high. Some agents may distort the truth in order to gain your listing hoping to drop the price later. An incorrectly priced home will not sell quickly and often results in a sale price that is below market value. Be sure to ask any agent to show you recent sales data with facts and figures that support the suggested price in your area.

The biggest advantage to using a marketing agent is that they are professional negotiators with natural objectivity. It's not uncommon to achieve more than market value through a sound negotiation strategy so it makes sense to leverage off this skill base. Check credentials to be sure your agent is suitably experienced and make sure they are dedicated to selling your home. Do they sell homes for a living or just to supplement their income?

Most importantly, don't ignore your gut. Make sure you feel comfortable with your agent and always get enough information so you can make an informed decision on your marketing agent.

Characteristics of good marketing agents

• Honestly. Trust your intuition. Your agent should speak from the heart.
• Experienced marketer.
• Negotiation skills. You want an aggressive negotiator, not somebody out to make a quick sale at your expense.
• Networking. This is a people business. Some homes sell because agents have contacted other agents.
• Good communicator. Great communication and availability are key.

Finally, ask for a personal guarantee. If the agent won't guarantee performance and release you from the listing upon request, don't hire that agent.

Sin #1 – Pricing outside the selling zone
Sin #2 – Displaying your home ineffectively
Sin #3 -  Over Capitalising
Sin #4 - Ineffectively marketing your home
Sin #5 - Letting emotions cloud your judgement
Sin #6 - Choosing the wrong selling method
Sin #7 - Engaging the wrong marketing agent

This is an extract from “How to avoid the Seven Costly Sins homeowners commit when selling their home” written by Mark Lambie

Mark is a top performing Sales Manager with Ray White in Christchurch and can be contacted via email (mark.lambie@raywhite.com), mobile (0274 400 200) or visit his website

The information contained in this article is of a general nature and should not be taken as advice. It reflects the opinions of the writer only and does not necessarily reflect the opinions of New Zealand Home Loans.