How To Find A Good Property Agent
Good property agents should be able to advise on follow-up strategies given market conditions and competitor actions.
Good property agents should deliver on their promises and be aligned with your interests.
Customers should specify contractual agreements with their property agents when making big purchase decisions.
Throughout my experience as a property agent, I have heard from other agents stories of customer unhappiness and dissatisfaction. Personally, I believe a good agent should be responsible, aligned with your interest and should also possess a thorough understanding of the industry and property strategies.
Many customers engage property agents simply because they are recommended by their friends and family members. However, beyond recommendations, it is important to make an accurate judgement of the property agent. After all, you hire an agent to save time and experience less hassle. It would be more troublesome to hire an agent who has knowledge gaps and makes severe mistakes.
1: Property agents should be strategic
If the house is not sold, the agent should be able to advise on a follow-up strategy. One common criticism I hear is that many agents blame the inability to sell property on “market conditions”. Customers should then ask their property agent about strategies to maximise performance given the market conditions and competitor strategies; a good agent should have a strategy to react.
2: Property agents should be able to deliver on promises
An agent should also be able to deliver on his or her promises. Many agents say for the sake of saying to secure the contract., without putting in the subsequent effort. An agent should be seriously interested in selling the place. The market is very transparent in Singapore - if an agent quotes you a high price, it does not necessarily mean that the agent is good. Should the agent fail to deliver on his or her property, it simply means that the agent is not responsible. In addition, opting for an open listing with 5 -10 property agents marketing your property is not an ideal practice, given that the agents are not necessarily working in your favour.
3: Property agents should be responsive
Also, the agent should be responsive to your SMS, WhatsApp or calls. Once an agent is unresponsive, opportunities may be missed. Personally, I believe that a property agent’s response time should be reasonable at around 15 - 30 minutes, rather than taking half a day.
4: Property agents should be knowledgeable
Agents should also be able to explain their strategy in a detailed manner. In Singapore, all property agents must go through the CEA Real Estate Salesperson examination, meaning that all agents should possess a certain standard of knowledge and expertise. However, I find it troubling that there are some Singaporeans who do not take big property purchase decisions seriously. Some even gloss over black-and-white contracts with the wishful thinking that property agents will deliver on certain “market norms”.
Above all, an agent is someone you pay to protect your interests. During the process, you should be able to determine if the property agent is reliable, trustworthy and knowledgeable.