Are you planning to sell your property, have it rented, or buy a property? Handling property transactions can be grueling especially if you are not familiar with how to do real estate transactions. Therefore, it’s advisable to hire a Singapore property agent.
Many property owners usually choose experienced property agents. That is because they have a more established skill in negotiating for Singapore house prices. However, there are still people who opt to hire new property agents. If you are one of these people, you need to understand that these property agents are prone to mistakes since they are new. In this article, we’ll cover the 5 common mistakes made by new Singapore property agents that you should watch out for.
## Mistake #1 - Promising to sell/rent property at high Singapore house prices
A new Singapore property agent will tell their clients that they can convince buyers or tenants to purchase or rent your property at a high price. It may sound wonderful to get a high Singapore house prices deal. However, that can be a bit far-fetched and risky.
Selling your property at a price higher than its market price can turn away potential buyers. That is because most people do their research on real estate market prices before closing the deal. That is also the case with tenants since they compare rental fees. As a result, pricing higher than the market price will get your house unsellable and vacant for a few months. This will eventually lead to the property agent convincing you to lower the asking price.
## Mistake #2 - Charging very low commissions
One of the reasons why clients opt to hire a new Singapore property agent is because they charge lower commission fees. That is alright since they are not as experienced as a property agent expert. However, property clients should be wary if the property agent is asking a very low price for their services. That is because there is a great chance that the quality of the services is below standards. In addition, if the property agent cannot negotiate for their own fees, it is likely that they can’t negotiate for the best Singapore house prices. Property agents that know the value of their service will charge it accordingly.
## Mistake #3 - Not using online property listing platforms
Nowadays, people search online before making a purchase. That is especially the case if they are going to buy something expensive like a property. For that reason, many property agents make use of online property listing platforms. There are several new property agents that don’t use these platforms. The reason is that they don’t want to pay the listings fee. However, a good Singapore property agent knows how beneficial it is to list their client’s properties online. Properties listed online have more markets and are likely to sell or get rented fast.
## Mistake #4 - Poor communication with the client
One of the common mistakes of a new property agent is not communicating well with their client. Lots of mistakes are made because of poor communication. The property seller and the real estate agent should work together to be able to get the best possible Singapore house prices. The property selling or renting process will not go smoothly if communication is done poorly.
Furthermore, the property agent should be able to reach out immediately to the client if problems arise. Most amateur property agents will solve this problem on their own. That is because they think it is incompetence on their part if they can’t solve it on their own. However, building trust with your client is more vital in this scenario rather than being competent.
## Mistake #5 - Managing multiple clients at the same time
A new Singapore property agent tends to get thrilled in working in the real estate industry. They also want to earn faster in their newfound career. For those reasons, they tend to accept multiple clients at the same time. They think they’ll earn more at this rate. However, what they will be earning more is a lot of stress. As a result, the quality of their service is sacrificed.
Inexperienced property agents are not used to the process of property transactions. That also includes negotiating for Singapore house prices. That is why a wise property agent will most likely take it easy at first. They will only add more clients once they get used to it.
## Learn more about Singapore property agent
Although new real estate agents are prone to mistakes, that does not imply that they will not provide quality services. It is best that you assess their competency rather than their years of experience. If you need help in finding a great property agent in Singapore, check out more of our articles at SRX Property.