News · Property · Choices , Choices, Choices , use an Estate Agent / Property Broker or go DIY
Choices , Choices, Choices , use an Estate Agent / Property Broker or go DIY
It all depends on your personality, time available and the amount of research you are prepared to invest into the project.
YOUR PERSONALITY:
Or maybe lack thereof.One needs a people's person type of
personality.Being approachable and have
a willingness to meet he needs of others.The last thing you want to do is come across desperate or pushy, but on
the other hand, you need to be accommodating.
Another personality trait that will serve
you well would be one of positivity and resilience, to bounce back when a deal
that was looking so good goes south.
TIME AND ENERGY:
One of my clients decided that the would
stand a better chance of securing new tenants for their building by opening it
to agents as well as to marketing it themselves.This poor lady came to me one day after I had
shown the unit to a prospective client saying, I don't know how you do this, I
have shown this place to so many people and still nothing yet, when you guys
(meaning us) come, you seem to show it with the same enthusiasm as the first
time.Not only does it require your
personal time to show every potential client and the amount of energy that goes
into it is quite Taxing unless you are really passionate about the deal.
Still on the topic of time and energy, most
private sellers are over keen to show their space to everyone that is looking
that they overlook the very important questions, to ask the person viewing the
space like the size, budget and most important what they want to do with the
unit.The last thing you want to do is
show a person your space I it is completely wrong you don't want the tenant
to be striping engines in your office block ( this is obviously an extreme
example, but illustrates my point)
It is important that you are available to
show the property that you are marketing when it is convenience for the buyer /
tenant or they will go somewhere else especially in these times.
RESEARCH:
If you want to sell / rent the DIY method,
you will need to do some homework.You
would need to find out what is the going rate for the area, you are welcome to
read my article on the subject at:http://
Most agents have done this research and
work with it everyday, so are able to get to work on marketing immediately.
COSTS INVOLVED:
This is the obvious cost of agent
commission which should be agreed on, before any work gets done on marketing
your property.
So what are you paying for?Agents do this day in and day out, so you are
paying for their experience and product / industry knowledge.Most agents know what works when it comes to
advertising and what is a deep dark hole that swallows up your money.Depending on your agreement with the agency
or agent, they do (x) amount of advertising for you on a risk system, where
they fork out the money to present your property to the buyers / tenants and
are not guaranteed of a return as another agent or even the landlord may sell /
rent the property and the agent gets nothing for the time, money and effort
invested.
Agents have networks in place that allow
more people to know about your property as well as buyers and tenants get hold
of them, when looking for new properties.
The commission structure is for the most
part negotiable, but there is a guide drawn up by SAPOA ( South African
Property Owners Association) and can be viewed on their website.
If you decide to go the DIY route, you will
need to do your own advertising with the hassle of having to venturing into a
trial and error system, but a good measure would be to look where most other
agents advertise and copy them ; look at the way adverts are laid out and
worded. When placing adverts you need to
give readers enough info to catch their attention, but not tell the full story
or they will not need to call you ; thus not even giving you a chance to talk
to them and see if there is any way you can help them.
Then you need to remember that time is
money and you will need to show prospects each individually and when it is
convenient for them, whereas agents may show that same prospects 2 � 5 different
properties making it more viable for them as it saves them time.
So in Conclusion ; is it better to use an
agent or do it DIY:
This is all up to you at least you have a
better idea of what you letting yourself in for.You may save some money on commission, but
spend more in advertising, research and time which may be your most expensive
resource.
The advantage of using an agent would be
their knowledge of the industry as well as all the legal and paperwork routines
that have to be followed and networks of people in the right places to move
things along.Having said that, one can
go to C.N.A and purchase templates of all the necessary legal forms and
documentation to do it yourself.
Quinton and his brother Theo work as a team, and have their roots in
the building industry, spent many years in construction and renovating
buildings.
Both have made the obvious progression to Real Estate, following their passion for property.
Now offer a fully rounded service in the Sale / Purchase and/or Rental
/ Letting of Commercial / Industrial property, with the years of
building experience to guide clients on the customizing of their
business� new homes.
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