What Everyone Ought To Know About Choosing A Listing Agent
Most of the people who purchase their condominium, apartment, or house think that it is a big investment on which they can decide what they want to do — either they remodel or furnish it for the purpose of leasing; or they renovate and improve it then sell the same at a higher price; or they simply make it their home where they can enjoy the convenient life.
But there are people who are not able to use their condominium unit, apartment, or house. Thus, they often decide to lease or sell their properties. There are also some who purchase properties only for the purpose of selling it again at a higher price and make some handsome profit from it.. But still, many people make mistakes in the field of real estate business. So, if you have decided to sell your condominium, apartment, or house, hiring a professional licensed listing real estate agent will help you sell or lease your properties easily, smoothly, and in a short amount of time.
What are Listing Agents?
Listing agents are the real estate professionals who represent you if you want to sell or lease out your properties. While the listing agents help you to list the properties for sale or lease in the market, they also perform other works on behalf of the seller or lessor of the condominium, house, or apartment in order to sell or lease it at the price desired by and under the terms for their clients.
There are different types of licensed real estate professionals, such as the real estate selling agent, also known as the buyer’s agent; and the real estate listing agent also known as the seller’s agent. Real estate selling agents represent the buyers or lessees in the transaction in which they help the clients to search for a good new home that is up to their standard. While the real estate listing agents represent the seller or the lessor and help to list the condominium, apartment, or house in the market and on the online marketing websites to find a qualified buyer in a short amount of time.
What Work Does the Listing Agents Do?
A Listing agent's work is not just limited to listing and selling the condominium, apartment, or house that you are selling or leasing in the market and online websites. Listing agents will also help you to determine the improvements that your properties need, such as to renovate or remodel it. They will also help in the negotiation and other transactions in the process of selling or leasing your property. Further, listing agents calculate the property's price by using comparative market analysis and also create online listings and sales materials to market them.
What are the Advantages of Working with Listing Agents?
As we all know, selling real estate is difficult, stressful, and will take a lot of effort and time especially if you are a first-time seller. So, a listing agent can help you in this field by taking a big chunk of the burden by providing the information and resources that you need to make decisions.
There are many advantages in working with listing agents, especially if you choose to work with the listing agents of Bed and Go, such as:
They Provide Professional Advice in Real Estate Transaction and Negotiation.
Listing agents will provide you professional and detailed advice on how the real estate transaction and negotiation work step by step. They also offer consultation on the things that you must do in the process of selling or leasing your property.
You Will Have Access To the Multiple Listing Service
The Multiple Listing Service, or MLS, is an online database where all real estate agents both list properties for sale and search for listings for buyers with whom they’re working. Getting your property listed on the MLS, will bring to it more exposure and advertisement. The more potential clients who see it, the more likely you’ll be able to sell it faster and for a higher price.
As mentioned in the section above, only real estate agents can list properties on the MLS. Therefore, if you want as many potential clients as possible to see your properties, you should work with a trusted listing agent.
They Evaluate the Needed Repairs on the Property
Once you hire and work with your listing agent, they will evaluate your condominium, apartment, or house on what things should be changed or need repairs. They will also give you detailed advice on the interior design of your property. They will also check the safety structures of your condo if it needs to be fixed or addressed immediately. That will help in the process of selling or leasing your property.
Price Listing of the Property
The listing agent you are working with will help you determine the fair market price of your condominium, apartment, or house based on prevailing market values. Besides, it is important to get the right value of your property. If you price too high, your home may stay on the market longer. Price it too low, and you could miss out on the profit. Also, listing agents know the commonly searched homes and conditions in the market that are comparable to your property in terms of the size, features and others that can be helpful to determine the value of your property in the market.
Preparing the Property for Selling or Leasing in the Market
Listing agents will help you prepare your condominium, apartment, or house for selling or leasing in the market by staging your home through renovation and interior designing, repairing the furniture that needs to be fixed, changing or repainting the walls if the old paints are already tattered, and others that need to be repaired and fixed. Bed and Go Real Estate offers some tips on how to make your property presentable before you show it in the market.
Advertise and Sell or Lease your property
Advertising is one of the benefits you’ll obtain from the listing agents that shines through marketing, including online photos, videos, and 3-D virtual tours. Listing agents will help you advertise your condominium, apartment, or house by hiring professional photographers to take some pictures and videos for virtual tours for the clients to be able to watch the property even if they are not able to see it personally. Also it is used for listing your property online in multiple listing websites such as Bed and Go Real Estate, which is an online home-selling/ home leasing database used by the selling/ buyers agents who are searching homes based on their clients’ standard.
Home Tours Schedule
Usually, prospective clients want to view the property in person because it is not enough to only watch a virtual tour. It is also the chance for them to be able evaluate the features and other details that they are looking for. So, listing agents will help you appoint the schedules in the home tours of your prospective clients with their selling/ buyers agent. Listing agents will also be there in the home tour and help to represent the sellers or lessor and answer some of the questions that their prospective customer is asking. Listing agents may also host an open house where the prospective clients can walk-in without appointments from the seller or lessor.
They Do the Negotiation and Transaction for You
Other than coordinating for house tours and doing other work in the process of selling or leasing your property, listing agents are also the one who will communicate and do the negotiations with your prospective clients with their selling/ buyers agents throughout the entire process. A listing agent takes care of this important job, staying in touch with all parties, answering questions from the other party, and handling paperworks. Negotiating the price and other terms and conditions is not as easy as you think. It will take a lot of effort for the listing agent, they will also be the one who will help to process the other transactions to complete a smooth negotiation between the seller or lessor and the clients with the help of or in coordination with the client’s agent.
They Recommend Other Real Estate Professionals
In the process of the transaction, the listing agents and the buyer’s agents are not only the one who will be involved in this negotiation. There are also other professionals who are needed in this process. So, for the negotiation to be smooth and fast, most of the listing agents recommend their partners whom they trust and worked with for more than a year, such as real estate attorneys, inspectors, stagers and those who specialize in home improvement.
How do the Listing Agents Get Paid
Listing or seller's agents, and selling or buyer's agents have similar processes of getting paid. Both agents are being paid on a commission basis, also known as cooperative compensation, or co-op in the agents’ terms. The typical rate of a Philippines Real Estate Broker is from 3-5% of the selling price of the real estate property (commission) or the sales price, which is split among the agents facilitating the sale.
Since both agents take half of the commission, the listing agent will calculate both their commission and the buyers' agent's commission in advance of the asking price. A competitive listing agent will find out what commission other sellers in the area are paying. So, you must make sure that your listing agent is as competitive as those mentioned, or else your potential client’s agent might be tempted to show their clients properties which yields higher commissions.
The Difference Between Hiring a Listing Agent and Leasing or Selling Your Property on Your Own
Selling or leasing your property by yourself will take a lot of effort and time. There are also mistakes that you can commit while transacting with your potential clients. It will cost you a lot, especially if you are not skilled in the field of real estate business. You wouldn’t be able to regulate the budget and the appearance of your condominium, apartment, or house. It will also take more time selling or leasing your property by yourself as compared to when you hire a professional listing agent.
Compared to selling and leasing your property with the help of your trusted listing agent, everything will be smooth and easy in transacting with your potential clients without committing mistakes in the process. It will also take a smaller amount of time and lesser cost in selling or renting your condominium, apartment, or house with the help of your listing agents.
Qualifications of Listing Agents Should Have
There are different ways to know the listing agent's qualifications. First is by asking some questions, second, by asking for proof of closed deals on their recent transactions from their previous clients, and third, by asking to show their previous work of advertising projects for their previous client.
The following are some of the minimum qualifications that your listing agent should have:
Able to close the deals within 90 days in their previous clients.
Easy to talk with and coordinate properly.
Have good background in the company.
Has a good review from their previous clients.
Here are some of the questions that might be able to help you in finding a suitable and competitive listing agent:
Is this your full-time job?
How long have you been an agent?
What do your services cover? Are there any fees which I have to pay?
How many clients are you currently working with?
What strategies do you use to market homes?
How experienced are you in selling and renting homes based on my price range?
Why should I choose to work with you?
Can you provide me with references?
Among the most credible listing agents in the Philippines is Bed and Go. Through their years of experience in the real estate business, you can be sure that they possess all the above qualifications.
Bed and Go Real Estate is your trusted real estate partner. As your most-trusted listing agent, Bed and Go will be able to help you secure the negotiation with your prospective clients. In case of property management, Bed and Go is willing to guide and help you improve your property. So, the clients will be pleased and happy in acquiring the property that you sell or lease.
Bed and Go Real Estate Management responsibly manages all properties which our clients sell or lease, so that we can maintain the high value of our clients’ assets. We perform the most competitive real estate management suitable for the wants and needs of our clients.
As the Bed and Go Company Policy —
・ We will always be sincere and build long-term relationships of trust with our customers and partners.
・ We Provide WIN-WIN business to customers and partners.
We provide peace of mind by supplying high-quality, high-value-added services to customers and partners.