By Andrew Trim
Author of Real Estate Dangers
If an agent suggests an advertising campaign involving upfront marketing costs, ask them to pay for it. If the agent is so confident their marketing plan will result in a sale, they should be happy to front the costs.
A good agent will always be happy to receive reimbursement for marketing costs after the sale is completed, which mitigates the risk of financial loss for the seller. Selling a property is stressful enough for the owner without adding unnecessary financial risk.
The right agent has smart, effective marketing strategies and will happily back their skills and services to offer a sale with no upfront charges. Paying prior to sale is simply not necessary.
Be aware that some agents manipulate this method for their own benefit. They are only too happy to pay upfront advertising costs, but will hold their seller to ransom if the property doesn’t sell. While initially paying for advertising, their agreements have a clause holding the seller liable for all marketing costs if the property is withdrawn from the sale or the seller tries to change agents. This prevents the seller from doing so without incurring financial loss.
Quality marketing attracts buyers to a property. What constitutes quality marketing? The right price, good quality photography, a great script and smart recording of buyer enquiries. When this has been executed, the buyer will find the property every time.
To avoid the danger of paying before sale, remember the golden rule of selling: pay no money until the property is sold and you are happy with the outcome.
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