How to pick the best real estate agent

October 17, 2022

When it comes to choosing a real estate agent to help you sell your home, it's important to do your homework and make sure you find the right fit for your needs. Here are a few tips to help you narrow down your options and pick the best real estate agent for the job:

Get recommendations.

Talk to your friends, family, and neighbors and see if they have any agents they would recommend. Once you have a few names, you can start looking into each one.

Do your research.

Once you have a few agents in mind, take the time to look them up online and read reviews from past clients. This will give you a good idea of what others have thought of their experience working with the agent.

Meet with the agents.

Once you've done your research, it's time to meet with the agents you're considering. This will give you a chance to get to know them and see if you feel comfortable working with them. Be sure to ask lots of questions and get a feel for their knowledge of the market and your specific area.

Ask for references.

Once you've met with the agents, be sure to ask for references from past clients. This will give you an idea of how they handled the sale of a home and whether or not they were able to get the asking price they originally promised.

Make your decision.

After you've done your research and met with the agents, it's time to make your decision. Choose the agent you feel most comfortable with and who you believe will be able to get the best price for your home.

Sign a contract.

Once you've chosen your agent, be sure to sign a contract. This will spell out the terms of your agreement and help protect your interests.

How much are real estate agent fees?

Real estate agents in Australia typically charge what is known as a commission. This is a percentage of the sale price of the property and is generally calculated as a percentage of the final sale price.

The commission is typically split between the agent and the agency, with the agent receiving a percentage and the agency receiving the remainder. The commission is negotiable and can vary depending on the agent, the agency, the type of property, the location of the property and the sale price. For example, an agent may charge a lower commission for a property that is located in a rural area or a lower commission for a property that is sold for a lower price.

As a general rule of thumb, you should expect to pay your agent around 2.5% - 3% of the final sale price of your home. So, if your home sells for $500,000, you can expect to pay your agent $12,500 - $15,000. Of course, this is just a general guideline, and you may end up paying more or less depending on the agent you choose and the final sale price of your home.

Agents may also charge other fees, such as marketing fees, administration fees and so on. These fees are generally not negotiable and are typically charged in addition to the commission.

 

Are agent fees tax deductible?

Generally speaking, your agent fee is not tax deductible. However, there may be some exceptions, so it's best to speak to your accountant to be sure.

Conclusion

When it comes time to sell your home, you want to make sure you choose the right real estate agent to help you through the process. By following the tips above, you can narrow down your options and find the best agent for the job.

For further insights, take a look at the Chimni Dashboard to get free insights through our property data and analytics.

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Chimni is the simplest, fastest and most cost-efficient way to analyse postcodes and suburbs across Australia.

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