17 November 2022

With numerous options now available to DIY or self-manage property sales, more and more sellers are asking themselves: Are estate agents really necessary? According to David Jacobs, Gauteng Regional Sales Manager for the Rawson Property Group, a good agent is worth their weight in gold. 

Here are the key areas he believes they add tangible value to the property sales experience.

Risk Reduction

First-time sellers, in particular, may not realise just how heavily regulated property sales are. There are a whole host of laws governing the process, and not being fully compliant can put sellers at real risk. 

“Following the right procedures and ensuring the right protections are in place in all your paperwork is essential,” says Jacobs. “It’s not just about checking legal boxes. It’s about limiting unnecessary liability for any issues that might arise during and after the sale.”

Of course, there are more than just legal risks to think of when selling property.

“Unfortunately, scam artists are on the rise,” says Jacobs. “It’s not a bad idea to screen buyers before viewings to protect your property and belongings from opportunistic criminals. This process is far easier to handle as a property professional who is equipped to do background checks and prequalification. Buyers are wary of scammers, too – they don’t like handing their personal details to just anyone.”

Did you know? As property practitioners, real estate agents are held to very specific professional standards. If your agent has not lived up to their legal and/or ethical responsibilities, you can report them to the Property Practitioners’ Regulatory Authority (PPRA).

Property Knowledge

There is a wealth of property data freely available on the internet, but Jacobs says these statistics often miss important context that can make a real difference to your market experience.

“There really is no substitute for the hands-on experience of a property professional who lives and breathes your local property market,” he says. “There’s a reason real estate professionals consistently achieve higher sales prices than private sellers.”

Not only can real estate agents help sellers price, position and market their properties more strategically, Jacobs says they also play an important role in preparing those properties for sale.

“A good real estate agent will help you differentiate between issues that might deter sellers and need to be fixed, and issues that are unlikely to be dealbreakers or significantly impact your sales price,” says Jacobs. “This gives sellers the opportunity to improve their property’s appeal without going to unnecessary expense – a very effective way to maximise profit margins.”

Did you know? Many real estate agents keep a list of affordable and reliable tradespeople that can help you address any urgent repairs that need to happen before a sale.

Negotiations

Proper pricing and strategic marketing play an important role in the success of any sale, but they aren’t the only elements that affect buyers’ final offers.

“Negotiation is a huge part of property sales,” says Jacobs, “but it’s a very delicate balancing act – pushing too hard at the wrong time can definitely backfire.”

Jacobs says professional agents tend to be better at recognising when there’s room to negotiate because they deal with buyers every day and have greater insight into their motivations and mindsets.

“Buyers have also been known to take advantage of the fact that private sellers don’t have commission to pay,” Jacobs adds. “As a result, they frequently make lower-than-market offers, eating into any financial gains the seller hoped to make.”

Did you know? Knowledgeable buyers often benefit more from private sales than sellers, purchasing properties at below-market rates without having to do any extra legwork!

Value-Adding Services

Working with a professional real estate agent can do more than just maximise a seller’s sales figures. Jacobs says agents also shoulder a number of costs sellers would otherwise have to pay.

“Professional photographs, compelling descriptions, sign-boards, flyers and other marketing collateral don’t create themselves,” he says. “They come with a hefty price tag that agents typically cover at their own risk.”

Private sellers may also be blindsided by the expense of listing on online platforms. These can cost several thousand rand each and may need to be renewed if the property doesn’t move quickly.

“Let’s also not forget the value of time, effort and stress saved,” says Jacobs. “There’s a lot to be said for handing the reins to a trusted professional and knowing your sale is in the best possible hands.”