What does a sales broker do for you?

by | Aug 3, 2022 | Costs, Sale, Sale Realtor, What to arrange when sold

Many people find a sales broker expensive. For the sale of your home you will easily pay between €4000,- and €6000,-. But what does a real estate agent actually do for you? Below you will find the broker’s work outlined in chronological order.

1. The recording
The initial work begins before you even get around to talking to the realtor. First, he will come to your home to record your home (free of charge and without obligation). He looks at things like state of repair, finish, materials used, layout, amenities, etc. He also measures the house to determine the living area. Back at the office, the broker will process all this information and compare it to recently sold properties in the area. From there, he will develop a professional valuation that includes a well-researched current market value.

2. The sales proposal
Now the broker can make a sales plan for you in which he gives you a proposal of how he thinks he can sell your home for the best return. This of course includes the asking price and fee for the broker.

3. Record agreements.
After approval of the sales proposal, all agreements are neatly recorded in an ‘Order for Service’ which the broker mails you for approval.

4. Resale
Professional media files are created of your property. The basis is of course professional photos, but often this is extended with 360 degree photos, a video or a video tour of the house. In accordance with the NEN2580 standard, the house is also measured down to the last centimeter so that floor plans and a measurement report can be drawn up. The real estate agent is going to gather all the information from you that there is about the home. Consider the maintenance and remodeling history, defects, peculiarities, neighbors, what will and will not be sold with it, etc. The real estate agent wants to get to know your home as well as possible to be able to inform interested parties and answer questions.

5. Search
The broker does a deep analysis and research of all the “behind the scenes” information. He requests a soil report, dives into the building archives (among other things because of the type of foundation), scans the documents for easements, qualitative clauses and other details and in the case of an apartment building he examines the entire HOA (deed of subdivision, minutes, MJOP, budget, etc). He makes sure that he is aware of all the important issues so that he can take them into account in the sales brochure and inform viewers about them and answer questions about them.

6. Presentation

A catchy advertisement is written, all properties are accurately entered, the photos, video, floor plans and measurement report are processed and everything is combined into 1 attractive and legally correct presentation for Funda, other housing websites and the sales brochure.

7. Promotion

The house is put live on Funda.nl and other platforms(jaap.nl, huizenzoeker.nl, pararius.nl etc). Also, the property is often highlighted on social networks and among fellow real estate agents. Seekers who have a “match” with the property will receive the property by mail.

8. Visibility at the home.
A For Sale sign will be attached to the home or placed in another visible location near the home. Also, sometimes a mailing is distributed in the neighborhood to further promote the property.

9. Scheduling appointments.

All appointments that come in by mail, phone, Funda and whatsapp are scheduled and all questions are answered.

10. Getting the house ready
Before the first viewers arrive, the real estate agent will make a final check that everything in and around the house is in good shape. In particular, he ensures that there is as much light and feeling of space in the home as possible and that everything looks and smells fresh and clean.

11. Conduct viewings.
Each viewer is shown around by the broker, and the important features of the home and the sale are highlighted. An important role of the sales agent is to think along with viewers and advise them in matters such as permits, building modifications, renovations, course of action around the bidding process, the mortgage, the notary, etc. A good real estate agent takes enough time to help each interested party properly, inform them well, and give them ample opportunity to view the home.

12. Giving updates.
After each day of viewings, an update is given to the sellers how the appointments went. What were the reactions like, are there any bids, how many appointments were added or cancelled? It may be that the strategy needs to be adjusted and in that case the broker will discuss that during the consultation with the client.

13. Adjusting strategy.
Each day the broker reviews whether it is useful to adjust the sales strategy. A few examples: Perhaps a very good bid has come in under a time slot and the broker considers it wise to give other interested parties a chance to bid within the time slot as well. Or it is very busy with bids and it seems wise to the broker to convert the bidding system to a tender.

14. Follow-up
Viewers who have been to the property are called after. For example, follow-up viewings are then scheduled, all documents are sent and any questions viewers may have are answered.

15. Negotiating
The broker conducts the negotiations and tries to get the best possible result for his client.

16. Deed of sale
All agreements are neatly and watertight processed in a deed of sale. The broker goes through this deed article by article with his client and only when everything is clear, it is signed.

17. Advice on other service providers
The broker advises the buyer and seller on third-party services. Consider a building inspector, appraiser, notary public, contractor, painter, etc.

18. Presence of inspection and appraisal
The broker is present during any building inspection and the appraiser’s visit. This ensures that he can answer questions that arise and advocate for his client’s interests when necessary.

19. Monitoring progress.
After the bill of sale is signed, the real estate agent closely monitors the progress of the final matters. Is the cooling-off period over, is the deposit paid on time, when do the resolutive conditions expire, can there already be a sold sticker on the board, etc.?

20. Sometimes….starting over
In practice, it sometimes happens that, completely out of the broker’s control, a sale is dissolved. This may be within the cooling-off period or under a resolutive condition. For the broker, this means he can start all over again to sell property once more.

21. Last checks
An appointment is made to inspect the property, the deed of delivery and statement of account are checked and parties are reminded to be on time at the notary, to cancel or take out building insurance and NOT to forget their identification.

22. Inspection
Before the parties go to the notary, the inspection in the house takes place. The broker (ideally) prepares an inspection form with the inspection points and meter readings and has parties sign it for agreement.

23. Notary
After this, all parties go to the notary where the “transport” takes place.

24. Point of contact
Even after the transfer, the broker remains the point of contact for the parties. It may be that there are still defects to be uncovered, for example. The broker always looks out for his client’s best interest and will therefore do everything possible to achieve the best outcome for his client.