Selling Your Property Appointing an Agent

 Your home is likely to be one of your most valuable, if not most valuable assets, so professional expertise and assistance with the sale are certainly worthwhile. For this reason, most home sellers appoint a Real Estate Agent.

Appointing a Real Estate Agent should offer you the following advantages:

• Access to market appraisal data,
• Listing on the Internet,
• Advice on how to present your home to the public,
• Access to a large database of potential buyers,
• Screening of potential buyers,
• Assistance when negotiating the best price, and
• Effective administration of all Thai legal and financial requirements

You should meet with several Real Estate Agents before selecting the agent of choice.

You can check through local newspapers for agents actively promoting properties in the area of your choice, and look out for 'For Sale' signs in the area as well, and making a note of the listing agent.

Meeting with Real Estate Agents is similar to conducting job interviews. The agent wants to work for you, and you select the best candidate for the job. Therefore, prepare a list of questions to ask all the agents you meet.

Possible questions to ask prospective agents include:

• How long have you been a Real estate Agent?
• How familiar are you with the area in which my property is located?
• How many properties have you sold in this area recently?
• How did you calculate the price you suggest we could sell our property for? (Refer determining your price).
• Will you provide regular sales progress reports?
• Do you place importance on high ethical standards?

Other items you may like to review include the quality of the promotional material and the personal presentation of the Real Estate Agent. You could also ask for Contact Us details of recent clients, and then refer to these people for further insight into the agent's capabilities.

Once you have decided on the Real Estate Agent, a written agreement should be drawn up. This will contain an estimate of the total fees, charges and expenses you can expect to pay for a successful sale.

Read this agreement carefully and if you are unsure of any aspects, seek legal advice before signing the document.

Arrange an Appraisal

An appraisal is performed when a Real Estate Agent inspects your property and estimates it's value. Many Real Estate Agents will conduct free appraisals in the hope that you will choose them as your agent.

 You may be tempted to select the Real Estate Agent that recommends the highest price for your property. However, be wary of agents who put high prices on properties simply to gain your business; advertising your house at a price way over the market value of the property can be detrimental to it's sale in the long term.

 Prior to appraisal, the majority of sellers will have a price expectation that is possible 5% to 10% above the realistic market level. Bear this in mind when assessing whether an agent is over-pricing your property.

Estimate your Net Gain

When you are satisfied that you can reasonably estimate the market value of your property, you can then assess the net proceeds you are likely to receive if you sell.

To do this, you will need to determine the fees and costs associated with the sale of your property. These expenses should then be subtracted from your estimated sales price. Some of the costs and expenses to be considered are:

• The Real Estate Agent's commission,
• Any Marketing/Advertising fees,
• Lawyers fees and settlement costs,
• Any improvement and repair costs.