Nowadays, with the proliferation of property listing platforms and sites, there are many ways where an individual can sell their own property on their own. This helps to save them the 1-2% commission fee that property agents charge. We have already talked about how property agents can negotiate for a higher property value that exceed the commission payable.
We are here to talk about how there are increasing expectations of what is expected of a property agent, and what are the services you should expect from one.
#1 Discuss and Resolve Financial issues
In principle, property agent are not required or liable to providing financing advice or resolve the financial issues of their client. It is up to their client to decide on their own budget, plan their finances, and make sure that they are able to keep up with the home loan complications and repayments.
There is no way a property agent can force any client to sign a home loan with any of the banks, as it is also totally up to the client to commit and sign on a loan in the first place.
At our team, transparency is important. We always disclose the terms and referral fees when recommending home loans, and how different home loans will impact you in the long run. Our financial analysis with you is catered to your needs and your financial capabilities.
#2 Housing eligibility
You might be surprised by this – while a property agent can advise you on which housing types you qualify for, it is not in their obligations to help you get the eligibility cleared. It is also not their duty to help you write letters of appeal, how to argue against the authorities or how to help them set up the case / paperwork such that they have the higher chance of getting approval to buy a certain type of housing. This is especially so nowadays, where the advent of technology makes it more difficult for the older generation to apply for appeal online. In truth, agents are not required to help you step by step to clear the applications and prepare the groundwork for you.
However, at our team, we don’t want our client relationship with us to be just transactional. We understand that this is inevitable and our duty since many of our clients are busy with their careers and family – there is honestly little to no time for everyone to read through every single document and process the applications tirelessly over every weekend.
We are prepared to be with you on this journey, be it from getting to the HDB Hub together to settle the paperwork, schedule meetings to understand how to resolve the restrictions or how to approach the problem strategically.
#3 Post-Contract tenant mediation
Many people assume that property agents are like service providers that provide the same service even after the contract is signed. This means that if there are any disputes between the tenant and the landlord, many would reach out to their property agents to resolve it: from calculating damages or repairs works, setting up meetings, following up and more. This also includes potential financial disputes over missing or late rental payments.
However, the reality is that the property agent’s job is to find the tenant, not to maintain the relationship between the tenant and the landlord. This means that his obligations actually stop after the paperwork for the rental agreement is finalized.
However, some property agents choose to go the extra mile. In practice, our team does that as well. We want to continue our relationship with our clients for the long term and build trust. We hope that through our services and help, you will know that we are here to serve you and walk you through all your issues. Rest assured that if there is any conflicts or rental disputes, we are here to help you and get the access to the right resources.
#4 Provide peripheral support
Some of us, when buying a house, might ask property agents for other recommendations related to the property. Assuming that property agents are the experts on anything related to the property, they expect agents to provide the best renovation and designing recommendations as well. This means asking the property agent to source for renovation works, interior designing team, how much to save or spend, and how to source for the right materials for their home.
Many even reach out to the agent to complain if the renovation did not turn out the way they want it to be, or if the price was higher than what was quoted by the property agent.
In reality, the property agent’s job concludes once the agreement was signed, and renovation works is really a up to the buyer to decide.
At our team, we try our best to be a part of your journey. We have team members that are well versed in the construction and renovation works, and are able to provide you with advice that might be helpful for your renovation when it happens.
#5 Home staging helpers
When a client engages a property agent to sell a property, some of the property agents might suggest to do Home Staging. Home Staging is the process of cleaning up the home, replacing old furniture and lighting to make the home with new ones that are pleasing to the eyes. This will make the home cozier and more presentable, thereby fetching higher prices and more demand from potential home buyers.
However, some property agents draw a fine line between suggesting Home Staging and executing it. After all, it is not a property agent’s job to clean up the client’s home, calling for a team to do the maintenance works. It is also not their job to supervise the works and oversee the process.
This is the case where some clients assume that agents can go out of the way to accommodate all of their requests, from helping them to clean up to helping them buy new furniture.
At our team, we proactively provide smart solutions to help you efficiently. We have the contact to reach out to maintenance teams that you can trust, and provide you tangible plans to do Home Staging quickly and fuss-free. As with anything, we are there with you through your journey, and make sure to be there with you to resolve any unforeseen circumstances.
Property agent boundaries – and how far we are willing to go for you
At the end of the day, it is about building the strong trust and communication channels between the client and the property agent. For us, we believe strongly in making our client trust us. In return, we make sure to go out of the way help them in every way possible, from sourcing the right connections to the right platform and processes.
As always, we strive to be valuable partners in your asset progression journey. If you need property guidance and help from someone with the right experience and knowledge, reach out to us at www.sellwithkaeden.com to know more! We will be happy to assist you in your asset progression journey!