Hi, I’m Mark Reister from Investing in Properties. Today, I wanted to talk to you about what commission you should be paying your estate agent to sell your property. I know it’s attractive to pick the agent with the lowest commission, or often a set commission level.
But, if the agent doesn’t have enough skill to negotiate a great commission for themselves, how great are they going to be in securing the best result for your home when you come to sell? The agent should have sufficient incentive to get you the best price.
If the agent can get you a result, which is above and beyond the market value for your home, or above and beyond your expectations, make sure that the agent has the correct incentive to make sure that they keep pushing for the best result for you. If you get an extra $5,000 or $10,000 or $20,000, above what you believe your home is worth, it doesn’t really matter, if the agent shares a 10 or 15% bonus of that amount above the reasonable expectation for your home.
Don’t just pick an agent because they’ve got the cheapest commission. Pick an agent that’s got the ability to make sure that you’re getting the very best and highest price that you can for your home. Make sure that the agent is correctly incentivized and then you will make sure that you’re getting the best result possible.
Thanks very much for listening. If you’ve got any questions, I’d love to hear from you.
