Your search results

The Impact of a Real Estate Agent on Your Property’s Selling Price

Posted by Jayson Ang on August 9, 2023

| 0

TLDR

In the world of real estate, the value of property agents lies in their ability to create competition among buyers, manage transaction deadlines efficiently, allocate resources for targeted listings, and leverage their networking connections. Experienced agents can help sellers secure better deals, navigate time-sensitive transactions, and optimize marketing efforts to achieve higher prices. However, it’s crucial to choose agents with proven track records, strong industry connections, and a reputation for ethical practices to ensure successful property transactions.

The standard cost of a property agent is known to most of us, which is usually two percent of the sale price. However, we have seen some exceptions where agents charge as high as four or five percent for selling high-end properties.

On the other hand, discount brokers charge less than one percent. This makes us question if agents are worth the fees they charge.

The answer depends on the agent’s quality of service. In this article, we will explore the value-add of having a property agent and how they can contribute to your resale gains.

An agent’s ability to provide services in certain areas justifies their fees, be it usual or higher.

The Capacity To Seek Out And Create Competition Among Potential Buyers

A skilled seller’s agent should be able to attract potential buyers and encourage them to compete against each other.

Most leads for a seller’s agent come from online marketing, but this depends on the amount of money spent on it.

On the other hand, an inexperienced agent may only pass on offers as they arrive.

Experienced agents can manage your expectations and advise you when to accept or reject offers. They may suggest holding off on accepting offers if they feel that another buyer may offer a better deal.

However, some agents may prefer that you quickly take whatever offer is available so that they can earn their commission.

The agents who generate competitive bidding are the ones who add value to your property and achieve record prices through their efforts.

However, beware of agents who only act as personal assistants and relay whatever offers come in. It takes skill and experience to know when to squeeze out higher offers from interested buyers.

Efficiency, Particularly For Time-Sensitive Transactions

In some situations, some property agents charge high commissions but fail to sell the property for a better price. This is not necessarily a reflection of their poor work.

For instance, sellers who are about to miss an ABSD deadline need to sell their property quickly to avoid significant financial losses.

Such sellers may give improbable timelines to agents to find a buyer and conclude the sale. Agents who can achieve this, even at a slightly lower price, can positively impact the seller.

Therefore, it is worth paying a higher commission to experienced agents who can successfully handle such sales. Appointing inexperienced agents could result in delays that can be costly for the seller.

Allocation Of Resources Towards Targeted Listings And Optimizing Marketing Efforts

Real estate agents can get higher prices for properties by spending more on marketing. This includes paying to feature their listings on property portals, creating social media content, and using professional photography and staging.

You can tell which agents are spending more on marketing by seeing their faces plastered on property portals or their listings showing up on irrelevant searches.

Some agents prefer to focus on a smaller number of properties to give better service to clients. Agents who spend more on marketing can sell properties faster and at better prices, but they may require a deposit to cover upfront costs.

However, not all properties need extra marketing, and some agents may pressure you to pay for unnecessary videos just to promote themselves.

Networking With Other Real Estate Agents

In the real estate industry, an agent’s ability to secure a good deal for you may be influenced by their professional connections with other agents, rather than just buyers and sellers.

Realtors typically collaborate with each other by sharing listings they are marketing. Working together is beneficial as it helps them source properties and attract potential buyers.

Based on our observation, agents from larger agencies or those with a long-standing career tend to have a better network. They can provide more value in terms of securing quicker and better deals.

However, it may be difficult for people without industry knowledge to identify such agents, except by looking at the size of their agency or years of experience.

It is important to note that an agent’s reputation within the industry can also affect the outcome of your property transaction.

Some agents may not follow ethical practices, such as withholding information about their seller’s listings or not cooperating with other agents.

Such behavior could negatively impact future transactions and drive away potential buyers.

Proficiency In Managing Transaction Deadlines

If you want to have a successful property deal, you need a good agent who can manage timelines well. For example, an agent who can plan and manage your upgrade timeline so that you only move once can save you money.

You may also avoid paying the ABSD while upgrading, which will help with cash flow issues.

Some agents are experts in closing last-minute deals, which can save you thousands of dollars. Unfortunately, these agents often go unnoticed because their benefits are not obvious.

During a booming market, every property agent may seem like a genius. However, you should be skeptical and ask about their other transactions.

In a down market, quality agents are easier to identify because they continue to do their job through difficult times. You can also use commissions to incentivize agents to get higher offers for your property.

Should You Buy, Sell or Wait?

If you’re reading this, you must be trying to figure out the best course of action right now: is it the right time to buy or sell?

It’s difficult to give an exact answer since everyone’s situation is unique and what works for one person may not necessarily work for you.

I can bring you a wealth of on-the-ground experience and a data-driven approach to provide clarity and direction. From beginners to experienced investors, our top-down, objective approach will help you on your real estate journey.

I can help you by:

Offering Strategic Real Estate Advice – I can help create a comprehensive plan to guide you through your property journey.
Connecting Your Home with the Perfect Buyers – Through stunning visuals, an effective communication strategy, and an in-depth knowledge of the market, we’ll ensure your home is presented in the best possible way to fulfill your goals.

You May Also Like …

All Blog Posts Buying Tips

Explore the Benefits and Drawbacks of Holding an Open House!

Jayson Ang – June 3, 2023 –

TLDR An open house is a valuable opportunity for sellers to showcase their home to potential buyers without pressure. It...

All Buying Tips Opinion

Leasehold vs. Freehold Condos in Singapore: A Decade of Data

Jayson Ang – December 14, 2025 –

TLDR In Singapore’s property market (2014-2024), leasehold condos often outperform freehold in short-term holding (around 10 years) due to lower...

All Buying Tips Opinion

Unlock the Secrets of Property Investment and Transform Your Financial Future!

Jayson Ang – September 30, 2024 –

TLDR The Singapore property market has experienced fluctuations, impacting private home prices. Understanding your financial capacity is crucial when considering...

All Blog Posts Buying Tips

6 Secrets Foreign Investors Are Rarely Told About Singapore’s Real Estate Market

Jayson Ang – January 6, 2023 –

TLDR The Singapore property market presents unique characteristics that foreign buyers should consider. From the high rate of homeownership to...

All Buying Tips

4 Fresh Trends among Young Homebuyers Could Shake Things up in Singapore’s Real Estate Scene

Jayson Ang – March 18, 2024 –

TLDR Younger generation in Singapore is reshaping house hunting by showing a preference for quality of life over location. Millennials...

All Buying Tips

Downpayment For Condo: How Much Do First-Timers Need In Singapore?

Jayson Ang – March 12, 2024 –

TLDR The blog post delves into the complexities of condo downpayments in Singapore in light of the impact of Covid-19...

Mandarin Top 5

5 Reasons : Why Investing In Singapore’s Property Market Can Be A Good Retirement Plan

Jayson Ang – June 22, 2024 –

Investing in Singapore's property market can be a good retirement plan for several reasons. Here are five key factors that...

Mandarin Top 5

Top 5 Reasons Why Singapore’s Luxury Property Market Is Booming – Expert Analysis!

Jayson Ang – October 17, 2024 –

Singapore's luxury property market has been experiencing a significant boom in recent years, attracting the attention of investors and high-net-worth...

All Buying Tips Opinion Selling Tips

Should You Buy An Older Resale HDB Flat If You Are In Your 20s/30s?

Jayson Ang – August 26, 2025 –

TLDR Younger Singaporeans are increasingly drawn to older resale HDB flats due to their larger size and central locations, without...

All Buying Tips

5 Reasons To Invest In UK Property In 2024 Instead Of Saving

Jayson Ang – February 8, 2024 –

TLDR Investing in UK property in 2024 offers significant advantages over saving due to the potential for long-term value growth,...

All Buying Tips Opinion Selling Tips

Market Mistakes in Property Investment: Key Lessons and Strategies for Success

Jayson Ang – July 16, 2024 –

TLDR In property investment, common mistakes include lack of research, overleveraging, and neglecting due diligence. To succeed, conduct thorough market...

All Blog Posts Buying Tips

Resale Viewing Do’s and Don’ts: Expert Advice from a Singapore Real Estate Agent

Jayson Ang – December 19, 2022 –

TLDR The blog post provides valuable insights for first-time buyers on navigating the resale property market in Singapore. It covers...

All Buying Tips Opinion

Debunked! 6 Popular Property Myths of 2023, Including the 99-1 Loophole – Legal or Not?

Jayson Ang – January 4, 2024 –

TLDR This blog post delves into various aspects of the Singapore property market, including topics such as decoupling, 99-1 property...

All Opinion

What Is The Cost Of Constructing A Landed Property In Singapore?

Jayson Ang – February 24, 2025 –

TLDR Building a landed property in Singapore can be a costly endeavor, with prices ranging from $300 to $500 per...

All Buying Tips Opinion

I Bought a Mega-Home : Hear 7 Homeowners Spill their Heartfelt Remorse

Jayson Ang – December 22, 2023 –

TLDR The article discusses various challenges faced by residents living in massive condo complexes in Singapore. From long elevator wait...

Mandarin Top 5

Top 5 Places to Watch Fireworks in Singapore

Jayson Ang – August 3, 2024 –

Singapore is known for its stunning skyline and vibrant celebrations, especially during events like National Day and New Year's Eve....

All Buying Tips

5 Exciting Trends Shaping Singapore’s Property Market for Future Buyers After 2024

Jayson Ang – July 5, 2024 –

TLDR When it comes to the evolving landscape of property development in Singapore, developers are facing new challenges and opportunities....

All Buying Tips Opinion

Three Singaporeans Share Their Experiences of Co-Owning a Property with Friends

Jayson Ang – March 18, 2025 –

TLDR In Singapore, some individuals venture into property investments with unrelated partners, driven by opportunities and personal circumstances. Jim, leaving...