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Friend or Foe - How hard is your real estate agent working for you?

Hard to really know?

We came across a property that was recent sold in Townsville after being on the market for less than a week with three offers presented and over fifty interested parties. Sounds like an outstanding effort on the part of the agent! Maybe not….

On closer inspection of this situation it should be a concern that there is so much interest in a property particularly in the current market which is a buyer’s paradise. May be it was priced too cheap? Our research of the property reveals that is was sold at $40K below its real sale value and with the average days a home is on the market is around 119 days, supports this.

So why did the agent push for the owner to settle for less? We don’t read minds or know all the facts but the reality real estate agents work for commission and the incentive to close at any price is always present. After all, the difference in the commission in this instance was about $700 between little effort and pushing for the right price.

The point here is that this agent was not working for the buyer or seller but themselves. Sadly, it seems the seller is unaware that they missed out $40K and may never be the wiser. Choose your agent wisely. Choosing the agent that will genuinely work hard for you to get the right price is the key. Don’t rely on what they say your home is worth. Simply do your own homework. An educated seller is one who is not going to be short changed!

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