A Great New Tool To Find The BEST Real Estate Agents
It really surprises me that people who are buying or selling their properties use bad real estate agents. They don’t have to – no one forces you to use a particular agent.
But time and time again, when I am negotiating for property, I either find that the agent is working for me (the buyer) instead of the seller…
Or the agent has been telling the buyer they will get a price so high, that the property simply doesn’t sell. This causes frustration on both sides because genuine buyers can’t understand why their genuine offer isn’t being accepted, and the genuine seller can’t understand why they aren’t getting the price they were promised by the agent…
Or I see the agent simply “getting in the way” of the sale. They don’t return buyers calls. They don’t submit genuine good offers. They mess the buyer around. They won’t answer questions. They are “obtuse”. And people don’t like to buy from people they don’t like.
And in either case, the property either sits on the market until the seller gives up and reduces the price, or it just doesn’t sell.
But there are good agents too. These agents sell A LOT of properties. And they sell at a good price. These are the agents you want to sell with, when it comes times to sell.
Now – before we move on, there is one thing to remember about “good agents”. Often these agents really can sell. But just because they sell a lot of properties doesn’t mean they necessarily get the right price.
Often they do. The really good agents who really work for the vendor will sell lots of properties and get good market-price or above market prices for what they sell. But sometimes, these agents get both high prices and low-market prices for their clients.
Some really good agents are great at moving properties, and they will condition both the buyer and the seller, in order to get the property to sell (and pocket the commission).
You do want to use these agents when you are buying and selling because you will get a result. But in both cases YOU need to know the right price, and you need to communicate properly with the agent, to ensure that you are sending the right message in the negotiation, otherwise they might condition you to a price that’s not what you really wanted. (I talk about how to manage this situation, in my Educated Investor Membership training).
So – how do you pick the best agent to use?
The good news is that it just got easier.
And in fact there are now TWO ways to it.
There is a new free way – which looks to be pretty good. And there’s a very economical way that is the best. Let me tell you about both.
#1 The New Free Way to Pick A Great Real Estate Agent.
Property listing website has just launched a new tool to “find agents”. You’ll find the tool on the “find agents” tab on their website.
What this tool does is, for any given suburb or town, to bring up the agents that list on their website (and remember is one of the biggest listing sites on the internet). You can choose to sort by a particular property (e.g. ‘townhouses’ or even ‘blocks of units’) and a price range. Then they will show you the prices for the properties that these agents have sold. Not all the prices will show, depending on whether the sales price was made public. You can see which agents have actually SOLD the most properties and for what price.
Now – this is a great tool. It will allow you to see which agents, or which agencies (you can choose which to search) have the highest listings. And you can see the sales prices – so you have some idea of how well these properties sell through these agents. And it’s free! So for the budget-conscious property investor, this is a tool that I recommend you check out.
One word of advice though – if you do use this tool – please spend a bit of time looking at the data. Don’t just look at the highest selling agent and choose them. Spend time looking at each property that has sold, and then look at the photos and see if it sold for a high price. Run the numbers, create some spreadsheets, compare the information, and look at a few agents and compare them. Then ring the agents and look at what they charge and see which one is best for you. Interview the agent and see if you can establish a good rapport with them – this is important when you sell.
Now, if you are buying – you can also use this tool to see if you can find an agent that consistently sells properties for a lower price, too. It might be that they get a particular sort of listing (like mortgagee sales) or it might just be that they sell properties for a better price, instead of pushing up the price for properties that really should sell for less. If you can identify one of these agents using this tool, then you could find someone who is great to help you find future deals in an area for many years to come.
So, that’s a run down on the benefits of the ‘Agent Finder’ tool. There are a number of limitations that I need to cover too. In fact, there are three key limitations that you need to know.
Limitations of this website
The first limitation is that only agents who list with are shown on this report. Yes, this stands to reason as it’s designed to ‘sell’ this website, and to encourage agents to list on the site. But of course, there are many other real estate listing websites around, including a few big ones, and my understanding is that many agents are getting a bit reluctant to list on as their prices have gone up – so you certainly won’t see all the agents or anything like all the listings, just using this tool.
Which leads us to limitation number two. You won’t see all the properties that the agents listed have sold, because the site will only show the listings that were sold on the site. Some of the best deals (high or low) may not be shown if they sold off-market, or if the agent didn’t wish to disclose the sale or the price – or if the agent sold it but just not using .
And the third limitation is that does have a vested interest in selling property, so there is a risk that may only show you data they want you to see. Now, this may not apply for the real estate agent listings, and the site says the listings they show are “all properties the agent has sold (last 12 months) and published on realestate.com.au at their current agency” but it’s worth keeping a bit of skepticism about anything free, including data given to you where the provider is profiting significant sums of money when you buy.
Of course, the rest of the property sales data available on is great but certainly is not the whole picture, which is why you really need another data solution when assessing property market and sales data.
#2 The Even Better Way to Pick A Great Agent
So the even better way to pick a great agent – and to source high quality complete property data, is by using a tool like PriceFinder (or RP Data or other similar tool). I like Pricefinder because it is the most affordable solution available and has some great aspects that other programs don’t have.
Now if you want to see ALL the sales agents (not just those listed on ) and how ALL the properties in an area have sold, check out .
You can view current listings and see how much an advertised price has dropped in value – which may indicate a vendor that is more motivated to sell.
And you can see all the past sales recorded, listed by agent, and from this one report, link to each property so you can assess what the property looks like, what the photographs that were advertised look like, just how this property compares to other properties. This way you can quickly start to build a picture of what kind of properties an agent has listed, and what kinds of sales they are achieving and if they are the right agent for you!
Everything that does in this regard, does better, and you use PriceFinder for a whole lot more of course as well – running property valuation estimates, looking at market trends, gathering data on the property’s sales history and so on.
If you are ready to buy, or sell, you really need to use PriceFinder to get the best information that will enable you to make the best pricing decisions around your buying and selling.
I hope this has been helpful!
Property investing should be fun (and sometimes a bit stressful) but finding a good agent to have on your side certainly makes the job a bit easier.
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