Selling your investment properties is a decision you take after much thought and consideration. But the success or failure of this decision depends on one factor only: your real estate agent. When hiring a real estate agent to sell your investment property, find someone who respects your opinion, yet provides valuable suggestions and insights that can result in a successful and hassle-free procedure.
First and foremost, you should note their specialization. Some real estate agents specialize in commercial properties, while others have more experience selling and buying residential properties. Choosing the best fit for your property will only help you during the sale.
Once you filter your list of potential real estate agents, decide which one to hire based on the following three qualities!
1. Sales Commission
Some real estate agents quote a massive sum for their services when better candidates in the market are doing the same tasks at a much lower cost. It is better to research how much a real estate agent charges in your locality.
On average, real estate agents’ commissions can range from 3 to 7% of the sale value. But it majorly depends on factors like your locality, the experience of the real estate agent, and their employer’s organization.
Although the sales commission is an essential factor that helps you decide which real estate agent to hire, don’t go for the agent that charges the least. Chances are, they will be amateurs with no experience or required connections to break the deal.
2. Virtual Reality Technology
Almost all real estate companies or agents will market your investment property through well-put professional photographs. But the real estate industry is fast changing. It has introduced technologies like virtual reality simulations for buyers to tour properties from the comforts of their homes.
Virtual reality is quickly becoming famous because it:
- Provides detailed analytics to both the buyers and the sellers
- Engages clients through 360-degree panoramic views
- Saves time and makes the process of selling investment properties fast
- Saves money that is otherwise spent on staging the property and organizing open house tours
If you choose a real estate agent that uses virtual reality to stage properties for its clients, you can reach a wider clientele base. This, in turn, can increase your property and the sale’s overall value.
It’s estimated that the real estate agents that use this technology sell properties 10 times faster than agents who market properties through photographs and exhibitions.
In the real estate industry, experience means connections. The more experience a real estate agent has, the greater the possibility of a buyer reaching out to them to buy an investment property just like yours.
Experienced agents can also go through the paperwork quickly. Moreover, they know how to solve any problem that may arise during the sale and always have multiple backup plans.
Experienced real estate agents are often trustworthy as well. They have several reviews on their social media profiles that warrant their professionalism and put the seller at ease.
Hiring a real estate agent to sell your investment property is an important decision. Do your research and list down your top three choices. Then, contact them and ask any further questions you have. This will help you choose the agent that is experienced and who best fits your requirements.