Most landlords choose a property management service to take care of their investment whether they want to rent it or sell it.
Doing so costs them a bit, but it helps them to achieve their notion without going through hell. Following, we are going to mention a few things you should know before hiring a professional to help you out!
1. Customize Contract
You might give the agent the right to sell your home. This is considered the most convenient arrangement in the industry. This way, the service or agent brings prospective buyers right to your home, and they split the commission. This arrangement does cost you a bit, but it gets you the most exposure.
If you are rather skeptical of this whole thing, then you better commit to a short-listing period. Yes, you better give three months at best for the job. If the service wants you to wait for a pet, you need to peg the listing to average time it takes to sell a piece of property. The same goes if you hired a property management company to find you new tenants. You don’t want to wait to long for that as vacant units makes you lose money, warns OmniKey Realty in San Antonio.
2. Give Yourself A Relief
If you are stuck with a company that is no less than a nightmare to work with, they have to write a sentence into a listing contract which will let you cancel the agreement. This is possible given you are not happy with the performance of service.
Brokerage tries to assign you to someone else, but if this doesn’t work out, it will be a lot better if you are relieved from the contract.
So, before you sign up, you have to feel free to cross out any statement in the contract which will require you to arbitrate the disputes you have with your agent. This might reserve your right to take legal action.
3. Get Back on Market
You need to require the agent to place your home in multiple listing services within the time frame of 2 days of signing a listing contract. Some agents will try to pocket the listing; this will give them their first crack in selling your property. It’s a lucrative practice because brokerage doesn’t share the commission with an outsider.
This a fact, you are better off with your house exposed to the market. This might not produce the best bidder, but you are still getting the need exposure.
4. Make Others Compete
When it comes to hiring property management services, you have to make their agents compete for your listings. It’s cruel, but this approach will serve you well in the long term. Once you do your research, you need to see the agents in action.
So, take your time and stop at their open houses, see how they treat potential buyers. You have to call people are you still interest in and invited them while making your home a bit more presentable. With that said, you need to ask the agents for following this
Ask them to Compare original asking and selling price for properties they sold recently. You need to base their estimate on a review of recently closed sales of a home which is very similar to yours. You also need to consider the price of other properties on the market. Just don’t forget the pending sales.
Ask Agents How Many Transactions They Closed in last year. This answer should be based on per month Ifs best of they closed houses that were in your price range.
How will they market your home because exposure is imperative to sell your property! You need to mind the quality of their approach and compare with the last properties they closed. This will get you a good idea of how many prospects you should expect soon.