These days the market for property management and sales
is very competitive on fees, we see numerous agencies struggling to compete
with well established companies, the only leverage is to drop the fees, to reel
you in!
Investors who have been in the market for some time have
the heads up, they know quantity is no comparison to quality, unfortunately
most likely having had to fork out a small fortune to rectify the damage caused
by employing an agent who promises you the world for next to nothing in
management fees. We have seen this scenario all to often.
So how to you choose an agent?
Firstly you need to know what your expectations, are,
make a list and make these clear to your chosen agent. You are paying for a
service, it's that simple.
If you are new to the market, find out as much
information as you can about what's expected of you as an owner, many issues
are resolved quite simply by understanding what your responsibilities are. A good agent will know what these are.
Experience is the number one asset an agency can offer
you.
All good agents are up to date with legislation, this is
a very important factor, the agent must hold a current licence, don't be shy
about asking to see the licence and other relevant documents.
Has your agent ever owned or currently own a property of their own? This is not essential, however it does give you a little faith knowing that you have someone
who understands how it feels to pay a mortgage or can recognize maintenance
issues in the early stages.
Does the agent live local? Agents who live 50 miles away or have never lived in the area can tend to overlook inspections or bond Inspections, or forgetting to follow up.
Does the agent live local? Agents who live 50 miles away or have never lived in the area can tend to overlook inspections or bond Inspections, or forgetting to follow up.
Who will take care of your property if your property manager is on
holiday?You want to ensure that there are procedures in
place, you don't want your property forgotten about.
All good agencies provide you with dated photos for
routine inspections, you are paying for this service, make sure that
the inspection is actually conducted, if you are local perhaps attend every now and
again.
Is your property safe? Is there anything that you are
aware of that is a possible hazard- Yes? Then FIX IT, turning a blind eye could very well land you in
trouble, if your agent also turns a blind eye then that's Double trouble.
We are strong believers in the old saying, "what you sow is what you reap", always
do the right thing, there are no guarantees with any type of investment, but if
you get the have the right agent you are on the right track.
So how do you choose which agent to sign up with?
One who ticks all the boxes, Century 21 Boardwalk
Rockingham, living local with over 100 years combined experience