Whether you’re selling your first unit or buying your ninth CBD investment property, buying and selling property is a big deal and the process often comes with lots to think about. To help you, based on our experience, we have put together (what we consider) five of the tough questions, which you should always ask your real estate agent before you go ahead and sell your property.
 
1. Based on your other unit sales in the CBD, what do believe ours is worth?
This question is important for two reasons; the obvious one being that it will give you an idea as to how much your unit is worth and secondly this question helps gauge how active your agent is in your immediate area – this case the CBD. With local experience comes a realistic price. What does that mean? It means that when a real estate agent knows the local area well, like the Brissie CBD for example, they are familiar with market conditions and local supply and demand. Thus, based on all of these factors, they will also be able to provide you with a more realistic price for your property.
 
TIP: Look for confidence. If an agent can confidently answer this question then chances are they have good local knowledge and experience in the area.         
 
2. How would you sell and market our inner-city unit to get the best price?
Each real estate agent is different and will offer mixed advice on various sales techniques (auction or private treaty, etc.) and marketing channels. Asking this question allows you to find out what each agent suggests in order to get you the best results… and of course, price!
 
TIP: Have each agent explain the advantages and disadvantages for their methods so you are able to make an informed decision and sell your unit based on all the pros and cons.

3. How can we get the best price for our unit?
This one’s the million-dollar question. Let’s face it, when it comes to selling your unit nothing is more important than price, after all, it’s all about the bottom dollar. In all honesty, the trick to making more money is all in the presentation. From our years of experience here at HS Brisbane Property, we’ve found that well-presented units often sell more quickly and for a higher price.
 
A quality agent will present several ways in which you can add value to your unit without spending a small fortune, ultimately giving you the best return on your investment. They’ll work hard to present your property in the best possible light to potential purchasers, advise you on various presentation techniques and possibly even recommend a quality stylist or two. Some agents even have tradies on hand to ensure improvements are made quickly and inexpensively. It’s also important to remember that, once you’ve chosen your agent, the best thing you can do is follow their suggestions… budget permitting of course.
 
TIP: First impressions count! And no one is better suited to creating a lasting first impression in your unit, than a professional stylist. Using a stylist is a great way to add value without having to do a complete reno... after all, it’s amazing what a coat of paint and some new soft furnishings can do to give buyers a positive first impression.  
 
4. What is your commission?
Time to get down to business! By now you’ve asked several questions to find out what an agent can do for you, and your city property, so it’s time to find out at what cost. That’s right, we’re talking commission - how much is the agent making from your sale? The best way to choose an agent based on their commission fee is by asking yourself: “Is their rate fair?”
 
TIP: Would you opt for the cheapest heart surgeon to operate on your heart? Of course not! Nor should you choose the cheapest agent to sell your most important asset – your property! And for good reason! Often he or she needs to discount their fee for whatever reason. Certainly something to think about! Try to remember that often the busier (and sometimes more costly) agents are the talented agents; these are the ones which tend to have more exposure to buyers and can often match the perfect buyer to any unit.

5. How often do you stay in touch throughout the sales process?
Every good relationship comes down to communication, and the relationship between you and your agent should be no different. Before you decide on your real estate agent it’s good to know where you stand by asking how often they’ll keep you in the loop throughout the entire sales process.
 
Make sure you also find out what their plan of attack is and how often they’ll be providing you with feedback… will you hear from them every week? Feedback is very important to the overall success of the sale as it gives you and your agent an opportunity to review your marketing campaign. Whatever you decide, it’s important to ensure you’re both on the same page from the get-go and that you’re happy with the arrangement.

TIP: We recommend ensuring your agent is willing to contact you immediately after each inspection. They should also update you regularly to discuss the success of your marketing campaign and the interest of potential buyers for your unit.

Something else to be aware of, if you have a lease on your property – when does it end?  If you have a tenant locked in for another 12 months on a lease you could be excluding owner occupiers from looking at your property and missing out on potential enquiries.  A good time to list is 2 - 3 months from the end of a lease, this gives you the best of both worlds and also remains attractive to both owner occupiers and investors alike.

At HS Brisbane Property we believe it’s important to keep sellers (and buyers for that matter) informed every step of the way. We pride ourselves on providing a first-class service to every vendor we work with and our number one goal is to strive for a premium result with each and every sale we make. To experience our quality service for yourself, contact Hannah on 0419 782 133 and make an appointment.