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Property sellers need the heavyweight support:
"The mad scramble to buy at any price that prevailed at the height of the property boom has abated, and buyers are taking their time to choose between properties offered for sale. They are also showing a much greater inclination to negotiate with sellers and pressure them to lower their asking prices, and this is where the assistance of a seasoned agent is invaluable."
Fenwick notes that the lively market of the past few years made it easy for small, independent agencies to set up shop — sometimes in a home study or even garage — and sell a property or two a month while charging a low rate of commission.
"This has made consumers question the sales commissions sought by agents working for bigger, branded companies. But discount agents can really only survive in a market where property virtually 'sells itself' and they do not need to run large advertising or marketing budgets.
"What is more, their low overheads invariably do not include expenditure on back-up services — or the agent education and training that is necessary to cope with selling conditions in a tougher market."
In such a market, he says, the infrastructure and professional backing provided by a major branded company becomes indispensable. For a start, agents working for such organisations have access to rigorous training, which is updated regularly to ensure that it is relevant to current market conditions.
"Then they also have access to sophisticated administrative systems and referral systems that expose sellers' property to a wide national and even international markets. And on top of that they are better equipped to sift qualified buyers from those who go around viewing show houses as a hobby."
Indeed, it is only the professional service that a well-trained, experienced agent can offer that will bring about successful sales in the current market, he says. "This will save sellers time, money and much anxiety — and more than justify a higher rate of commission." |
Posted on Tuesday, September 18, 2007 (Archive on Sunday, September 30, 2007)
Posted by hayleym Contributed by hayleym
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