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Communication is key when selling property

ONE of the most important factors for sellers to consider is the level of communication or feedback they would like from their agent during the sale of their property.

The ideal time to discuss what level of communication will work best for the seller during the sales process is before appointing an agent.

Having the level and medium of communication established at the beginning ensures both seller and agent know where they stand and the seller is kept informed.

It is always wise for agents to ascertain the needs of sellers, particularly in relation to the timing of the transaction, what they identify the outcome as being, and how they expect their agents to communicate with them.

Agents are bound by legislation to keep their client informed of any significant development or issue in relation to the property.

Unless they have received instructions in writing from their client directing them otherwise, agents must immediately communicate to their client each expression of interest, whether written or verbal.

The REIQ recommends that best practice for agents following an open for inspection is to advise the seller in writing of the results of the inspection.

However, sellers may advise that contact via phone, email or text message is best.

To ensure agents fulfil their statutory and general obligations to their client, agents should seek any specific instructions in writing such as if the seller does not wish to consider offers under a certain price.

Effective communication from the outset will minimise the likelihood of any disputes and streamline the sale.

Having an effective communication strategy developed early and tailored to a seller's individual needs will not only assist with the overall success of the sales process but may also help to minimise the stress involved.

Antonia Mercorella is the chief executive of the Real Estate Institute of Queensland

Topics:  market opinion property real estate reiq



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