Hiring the right estate agent to sell or let and manage your property is an important decision. It is worth the time and effort to do some research on your options. Honesty, experience, processes and systems are important qualities to look out for.
Here are some tips to help you out
- Ensure the estate agent you chose has the correct licence. Companies and agents who provide property services such as letting, management and sales must hold a relevant licence. A list of licensed estate agents can be viewed by visiting the property regulators website www.psr.ie .
- Word of mouth. Talk to other landlords or property sellers and look for referrals from different sources. A referral can be biased so its good to get your research from different sources.
- Check out the estate agent’s social media platforms and their website. View their property adverts – Are they professional and well presented? Are they compelling?
- Interview the agent. Interviewing several estate agents or property management firms will enable you to separate the good from the bad. You will be able to tell those who have the real experience and knowledge. Anyone can find a tenant, but you need to ensure you have an agent on your side who will act and advise you correctly if things do not go according to plan. To make the right impression on quality tenants, the agent must be presentable and personable.
- Find out how potential tenants are screened and determine how maintenance issues are handled. Has the company a robust team in house to handle all reactive aspects of property management such as maintenance and the collection of late rents.
And finally, don’t forget that all property letting and management fees are tax deductible. For example, if the agents monthly fee is 10% each month, this really costs you about 4%. Remember cheapest isn’t always the best.