Choosing a Top Agent or a Reputable Real Estate Agency?

Both. At the same weight? Not!

The importance of choosing the best real estate consultant extends to choosing an equally competent real estate agency. But, the most relevant weight should always fall on choosing the real estate consultant.

It is common for an owner to devalue the importance of the consultant and take into account only the fact that the real estate brand is famous in the market, when the greater part of the mediation responsibility rests with the consultant.

So, choosing the right professional and agency to sell your home, or advise you on buying a property, is a crucial factor!

A Top Consultant must:

1. Take personal responsibility for all stages of mediation.

   Selling a home is a task that involves several steps and layers of knowledge. What is not acceptable is that the consultant is not involved in all these phases and reveals a lack of control over the entire process.

2. Be an expert in your area and have above average experience and know-how.

   This is a very relevant skill. A consultant who works in a given area and has a significant history of real estate transactions can make the difference, either in defining the ideal price or in the portfolio of interested clients.

3. Invest heavily in the production and promotion of your property portfolio.

   Here is one of the reasons for my success and that only occurs when we are talking about a Top consultant. Without financial capacity, nobody invests enough, hoping that only the agency will deal with it.But this one has hundreds of other properties where to invest your marketing budget. Your home will be just one more.

4. Be available to respond to customer and owner requests.

   A consultant who is directly involved in mediation needs to have time availability that goes beyond office hours, or the work week. It is often said that a Top consultant has no days off, nor vacations when he is disconnected. It's really true!

5. Having a significant property portfolio and a high volume of transactions, as this increases the quantity and quality of customers for your home.

   Although it is wild to think that a given consultant is a right choice because he is successful and as such he will have customers in his portfolio waiting in line to buy his house. The fact that it has a high turnover of transacted properties increases the probability of finding an interested client among its database of prospects.

A Real Estate Agency must:

• Be widely recognized and inspire confidence.
• Be well advised legally and have good administrative support (eg housing loan management, etc.).
• Give quick answers in case of need.
• Provide support and training to your consultants, assuming responsibility in case of need, but keeping the focus on this.

The sale of a property is too important a matter to be treated as just "another fundraising". For an agency that has a few hundred properties, your home is just one more. For a Top Producer consultant, no!

A real estate agency spreads its marketing budget over hundreds of properties in its portfolio. On the other hand, the personal investment of a Top Producer Consultant in promoting their properties is proportionally greater, since their number of properties is also smaller than that of the agency. In this way, the prominence and visibility increase and the probability of selling your house, faster and at the best price, as well.

In other words, the consultant must be primarily responsible for the entire process and must be personally involved in its various stages, from fundraising to the moment of deed. On the other hand, a renowned agency offers a guarantee of trust and professionalism in monitoring and auditing the entire process.

How to choose the ideal real estate consultant to sell or rent your home?

In this activity nothing is guaranteed. The XPTO consultant can be the best of all and not be able to sell your property and the owner ends up selling it through another professional, less experienced or less committed. Just get lucky!

Remember: " Success is just a matter of luck. Ask any loser - Earl Wilson ;)

But what statistics demonstrate is that luck is not a good adviser. In Portugal, out of every 100 consultants, only less than 5 can be considered Top Producers.

Make the final decision only after an "interview" with the desired consultant(s). Be aware of issues such as:

• his/her way of dressing and presenting;
• if you bring well-studied "homework";
• if it presents you with market studies that can help you choose the best price;
• whether your speech strikes you as credible and sincere rather than trying to "give music to your ears";
• the ease with which he manages to establish a relationship of empathy;
• if he hesitates on difficult questions or seems sure of himself;
• if you present a clear and detailed "value proposal" for promoting your property;
• if you appear to be passionate about what you do, etc.

Finally, consider the degree of security you feel in the bet you are going to make on this consultant and if he is a Top Producer and you think that 6 months is a reasonable time for you, analyze the possibility of signing an exclusive contract. If you don't bet and give him the conditions to do a good job, above average, you can't expect him to reinforce the bet on his property either, especially if he is in an open contract mode competing with others.

To help you choose the ideal consultant to sell or rent your home, here are some tips:

• Tip #1: How to identify a Top Producer consultant?
  A consultant that stands out from the rest has to present results, consistently over the years, in terms of number of transactions and turnover. On average, in Portugal, a Top Consultant will sell at least 2 properties per month. I eg. in 2022 I carried out 66 real estate transactions. Look for clues on social media, as most publicize their sales and results through these channels.
• Tip #2: Don't choose a family member, a friend or a friend of a friend!
  Nowadays, any owner has a family member or acquaintance who works in real estate. With 50,000 professionals working in this sector in Portugal alone, it is not difficult. Thus, your first impulse will be to choose someone of your personal relationship and trust. Now this is a mistake! If you value the value of your home and your family relationships or friendships, don't mix things up. It almost always gives bad results!
• Tip #3: Having experience and proof given is the cotton test
  It's advice that rarely lets you down. A consultant who has a few years of experience in this activity and who does not have a "bouncy" career, from agency to agency, but who presents a consistent portfolio of awards and distinctions over time, will very hardly let you down.
• Tip #4: Empathy, Sympathy and less Mania
  Each consultant has their own personal style, no two are alike. But in the end, it's the results that count. A consultant who finds it easier to establish empathetic relationships, knows how to listen and does not confuse self-confidence with pedantry, is usually the one who is most successful in his commercial activity.
• Tip #5: True, true...
  A consultant who assumes a sincere speech, even when some of his opinions contradicted the preconceived ideas of an owner, deserves to be heard.What a landlord needs is not a musician, but someone with experience, who knows the real estate business in their neighborhood or locality well. Playing music in an owner's ears is easy, however telling him what he wants to hear is not always the most appropriate, taking into account his objectives: to sell well and quickly.
• Tip #6: Good Marketing, Bad Marketing
  Don't choose a consultant who spends most of his time working on his personal marketing. A consultant who spends a lot of time promoting himself, through live videos, sharing or commenting on social media, at social events, etc. you have less time to dedicate to what really matters: promoting and selling your property portfolio.

Having strong marketing focused on the product / service is good, having marketing focused on personal promotion is less good... for you ;)

Ask him about the budget he intends to invest in the promotion and marketing of his property and the channels he intends to use.Try to figure out whether you delegate this role to your agency alone or whether you personally enforce it.

• Tip #7: Choose the right consultant for your type of property
  Try to find a consultant whose real estate portfolio is similar to yours. The most usual thing is for each consultant to work on different targets. There are those who bet more on newly built houses, on farms or farms, on more modest or higher value properties, on leases, on working with buyers, etc. Just look at your property portfolio to see your profile.

How to choose the best Real Estate Agency?

With the growth of real estate franchising brands in Portugal, the choice options have increased. All agencies have an AMI License and are registered with IMPIC ( http://www.impic.pt/impic/pt-pt/consultar/empresas-titulares-de-licenca-de-mediacao-imobiliaria). There are currently 9,255!

Each agency has its own culture, team and business model. It does not seem ethical to make positive or negative considerations about each one, but I would list some criteria with which I identify and which guide my activity at KW Sol (Keller Williams), the agency with which I work:

• Tip nº 1 - Choose a medium/large agency.
  When we are talking about an urban area with high density, it makes sense to use a larger agency, as it will be the one with the most financial and human resources to dedicate to administrative tasks and promotion, mediation and real estate sales. If it is a small town or city, it may make sense to use a small local agency, but one that already has consolidated activity in the area.
• Tip nº 2 - That has marketing with visibility (social networks, digital or physical advertising, etc.).
  Nowadays, most customers do not go to a physical store (especially foreign buyers), preferring to consult the digital storefront of an agency or a real estate advertising platform. Thus, the agency's commitment to digital media is very important. It's easy: visit sites like Idealista, Supercasa, Imovirtual, James Edition, Green Acres and see if your properties are there and appear well positioned. This tip is also valid for a Real Estate Consultant.
• Tip nº 3 - Evaluate whether there are many complaints or criticisms regarding the real estate agency.
  We live in times when it is easy to denigrate the name of someone or a company, rightly or wrongly. Digital media make this "task" easier, just assign 1 star to the service, post a less favorable comment on social networks, etc. But there is a rule of common sense that is important to remember: do not expect the absence of negative reviews, but rather a favorable balance between positive and negative reviews.
• Tip #4 - Review the Mediation Agreement well.
  The mediation contract is the responsibility of the real estate agency, with AMI License and must be approved by INPIC - Institute of Public Markets, Real Estate and Construction. Read the contract, whether it is exclusive or not, and see if you agree with it. If there is any question that is not contemplated in the contract, you can always request an addendum.
• Tip #5 - Put the commission off
  Who determines the value of the mediation commission is the agency for which the consultant works. The most common is 5%, but this value can vary from agency to agency and depending on the type of property (residential market, developments, etc.). In any case, do not focus so much on the commission amount, but rather on the amount you want to receive for the sale of your home. It is the responsibility of the real estate to sell at the agreed price, plus the commission plus VAT (although VAT is deductible on capital gains, at the IRS level).