Recent inflationary pressures have seen Australian households look to reduce costs across the board. We’ve seen a raft of people take on tasks they would (and should) normally outsource to professionals, all to save costs.

This is particularly so in the real estate industry with DIY-ers tackling their own renovations through to investors self-managing their rentals.

While some tasks are relatively low risk – for example, a bad paint job can always be sanded back and covered over later – others are fraught with downsides.

One of those high-risk events is selling a property. Most people could probably tackle the mechanics of listing a home, conducting an open inspection and negotiating a sale. I venture, however, almost all would do it less efficiently and with a vastly inferior outcome compared to what a specialist selling agent could achieve.

Of course, not all agents are created equal when it comes to selling your particular property. The magnitude of the upside to you depends immensely on selecting the right agent to sell your home.

As a vendors’ advocate, I am tasked with matching sellers to agents to bring about the best possible result for the owner.

Here are my six essential steps for choosing the right agent to market your home.

1.    Become an “area expert”

Before speaking to agents, it’s key to do some legwork yourself – and the first step is understanding your home’s value.

Get out there and see what similar homes have recently sold for in your area. These comparable sales will be your guiding light, helping you determine what is a fair and reasonable sale price for your home.

So, why is this important if an agent will be giving you their price estimate?

Well, some agents will try to “buy your business” by overquoting the sale price you can achieve. These types will tell you a figure that will have you blinded by dollar signs. Once you’re signed up, they start to wear down your expectations throughout the marketing program.

Be aware of this before your start the hunt and resist the urge to simply choose the agent who tells you the highest figure.

2.    Consider multiple options

When you need some sort of construction work completed, most astute property owners will seek at least three quotes from various contractors. You can then compare what they’ll do and what the job will cost.

The same rule should be applied to your agent search.

Always chat with at least three agents based on a range of criteria. Go to open homes and see how the agents conduct themselves. How do they present? Do they take pride in the house they’re selling? Have a look at which agents are highly active in your area. Who has the most listings of properties similar to yours? This pinpoints agents who are likely to have the right buyer database for you.

Make certain the agent is approachable and communicative too. Big egos, fast cars and designer suits are no guarantees of success – in fact, they can put some buyers off. Look for agents of substance instead.

When contacting agents about your intention to sell, keep track of their response times.

When they do eventually present a marketing plan to you, do they show a genuine interest in having your listing?

3.    Competition creates champions

When choosing an agent, don’t feel like you need to hide that you’re talking with other agents. Experienced agents know you will be researching others – it’s par for the course. You’re not going to offend them by casting around for other options.

The upside is that if they’re genuinely keen on your property, they will work harder to secure your listing. There might be a few sweeteners on offer – reduced advertising costs, a reduction in the commission or a guarantee that the lead agent will be present at every open perhaps.

Use the competition to improve your results.

4.    Same-day interviews

When it comes time for your face-to-face listing meetings with your chosen three agents, have the meetings all on the same day as back-to-back as is practicable.

This keeps each presentation fresh in your mind, easing the comparison between one and the next. It will assist in faster decision making and you’re less likely to be swayed by “last presenter bias”. This is where the presenter you heard most recently appears to have the most impressive arguments.

5.    Be rigorous in analysis

Each of the agents will leave you with a proposal pack detailing their marketing program, costs and all other elements related to your property’s sale program.

Scrutinise each of them and home in on the most important aspects. Focus on their marketing ideas and costs. Are they coming up with imaginative ways to help your property stand out from the crowd?

Also – what are their recommendations around maximising your home’s presentation? Good agents understand buyer turn ons and turn offs, and they aren’t afraid of advising potential sellers on how to improve the home’s prospects. They can give recommendations on how to get the most bang-for-buck on minor renovations or even styling.

Look at their estimate of your home’s value and, most importantly, scrutinise the sales they used to get to that figure. Is their number reasonable? Does it stand up to examination and is it supported by the analysis?

In addition, look at their commission structure and marketing cost estimates. Do their figures seem out of the ordinary and, if so, why?

6.    Ask for more

Once you’ve chosen the most likely candidate, see if they can “sharpen the pencil” a little before you sign on the dotted line. Most agents will flex to close the deal – they are, after all, professional negotiators who understand the game.

Ask the agent to be a little more competitive on their commission rate, for example. Pro tip here too folks – always go with a performance-based fee structure. Fixed commissions can sometimes breed laziness because the agent knows they will get paid a certain amount regardless of the end price. Instead, incentivise them to seek more dollars for your home by tying their commission to the final figure.

Selecting the right agent should never be a case of pick one and cross your fingers.

The sale of your property is too important to leave to chance. Instead, put in the hard yards to get the best outcome. Alternatively, if you’re time poor and/or unsure about how to select the right agent, seek the assistance of a vendors’ advocate. They’ll work on your behalf to ensure the right agent sells your home.