AS HEARD ON
radio
financetalk
b e t t e r m o n e y
Find the right real estate agent and you’ll be
laughing all the way to the bank
By Scott Pape - The Barefoot Investor
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T H E *
J
P r ic ,e
is right
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elling y o u r hom e is a lot m ore com plicated than
flo ggin g y o u r collection of A B B A album s o n eBay,
w h ic h is w h y m ost people use a real estate agent.
Yet given that y o u r hom e is y o u r biggest asset, y o u need
to m ake sure yo u hire the right person.
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I T
H O W T O
save the price
of your mag
THIS MONTH
If your council waste bin is only ever
half full on bin night, you may be able
to downsize to a smaller version, saving
you money! If you have a large bin,
contact your local council to ask about
other available sizes that may cost less
on your council rates.
DO IT YO U RSELF
Here’s how most people go about it: You approach a few
agents w ho come around to do a free valuation and you sign
up w ith the one w ho gives you the highest estimate. Agents
understand this, w hich is w hy m any will quote high to get
your business, then knock dow n your expectations after
you’ve given them exclusive rights to sell your home.
DIY research
Before you let an agent into your home, find out the latest
house values in your area. You can watch local house prices
for a few weeks, then drop by a few open for inspection and
compare the properties to your own.
For less than $
50
, you can also get a report from w w w .m yrp.
com.au that includes the price of your home w hen it was last
sold, and the prices of other properties nearby. Or, if you’re
really serious, for less than a thousand dollars you can have
your house professionally and independently valued.
Think about how the internet crushed your
local travel agent. A similar revolution is
happening in real estate. A number of
companies have set up DIY services that allow
you to list your home on
www.realestate.com.au for
y S i
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under $1000. If you think
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you could do a better job
t^
ian a rea' estate agent,
m
you could save yourself
tens of thousands
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'
of dollars!
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Secret interview
M o st agents are experts at convincing you to list your home
with them, though many are less interested in accommodating
potential buyers. So approach a few agencies and pose as a
prospective buyer. Does the agent return your call prom ptly?
Are they friendly? G o to an open for inspection. Are they
professional? Punctual? If they spend more time chatting on
their phone than talking to prospective buyers, walk away.
W h e n you finally find the right agent, ask them if they will
lower their commission if they don’t sell the property for the
agreed price. It takes time to find a real estate agent you’re happy
with. Finding a good one should not only add thousands of
dollars to your sale price but also save you a lot of stress!
Q U I Z T I M E
On average, how much have
property prices in Australia
risen in the past
20
years?
A. 20 per cent
B. 50 per cent
C. 200 per cent
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BETTER HOMES AND GARDENS, MAY 2011 bhg.com.au
Photography iStockphoto
