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How to appoint a real estate agent

So you’re ready to sell your property, you have met with agents, and you’ve selected the real estate professional who you believe will do the best job representing your property…what happens next?

How do you appoint that agent and what happens then? Well it’s a lot more simple than you might think. Here’s how to appoint a real estate agent and what you might like to consider in the process.

Pre-appointment

Prior to appointing an agent, it’s important to do your research to ensure this is the best person for the job. After all, selling something as important as your greatest financial asset is no small responsibility.

When selecting your agent, take the time speak with a few different agents and have them inspect your property in person.

This initial meeting allows them to appraise the property and tell you the price they believe it will fetch.

It is also an opportunity for them to indicate how they would market the property, and which sale method they believe would suit it best.

We have a great guide on things to look for when selecting your real estate agent here.

Appointing the agent

Once you’ve found the agent who you believe will do the best job of selling your property, appointing them is easy, and generally involves signing a simple form.

This form, which goes under slightly different names in different states and territories, sets out important information, including:

  • The name of the agent or agency
  • The commission that will be charged
  • When fees or payments are due
  • The services the agent will provide and how these will be provided

 

This form will also set out the appointment type, which can vary depending on whether one or more agents will represent your property.  

What type of appointment?

In most cases just one agent or agency will represent your property, but in other circumstances you might prefer that a number of different agencies handle the property sale.

This needs to be indicated on the appointment form.

For example:

  • ‘Exclusive agency’ gives one agent/agency exclusive rights to sell your property.
  • ‘Open agency’ means you can list your property with several different agents at the same time and pay commission to the agent who sells your property only.
  •  ‘Sole agency’ means you pay the agent a commission once your property is sold, unless you sell it yourself.

Before your sign

Before you sign the agent appointment forms, ensure you understand the terms of the appointment, including the commission or fees that will need to be paid.

Once the forms are signed, the agent can get to work on selling your property immediately. This includes devising the marketing campaign, creating the marketing materials, having the property photographed, and organising open homes.

How we can help

If you’re considering selling your property, why not chat with one of our friendly agents to understand how we can help?

Or feel free to enter your address below to get your instant property estimate.
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