Monaco is acknowledged to have some of the most expensive real estate in the world, so a home in the Principality is, no doubt, one of the most valuable assets you can have.
With such a significant investment at stake, you would want the best possible outcome in selling your property, and it all starts by working with the right real estate agent who will always have your best interests in mind.
How can you find the realtor that will best represent your home? Here are some pointers to consider.
- Look into prospective agents' credentials
Ask friends and people you know who have dealings with real estate professionals in Monaco for referrals. You may also do an online search. Check potential agents' credentials, particularly their experience and track record, which greatly count in selling a home, especially in a competitive market like Monaco.
You would want to work with someone who specializes in the Principality and knows the nuances of selling real estate here. The realtor should be a local expert, and has a widespread network with whom they can collaborate in connecting with the right buyers for your property.
- Interview prospective agents
Once you've identified potential candidates, take the time to talk to each one. This will give you a good idea on how it is to work with them and who you feel most comfortable with.
During the interview, don't be afraid to ask difficult questions. A reliable real estate professional understands that clients need to feel confident about their choice, and will be open to providing you with the information you need.
In addition to getting information about their background, some of the questions to ask include:
- How will you price my property?
Ask prospective agents about how they arrived at a suggested selling price for your home. Pricing a home is a process that includes looking at comparable properties that recently sold in the area and understanding the market. Keep in mind that the agent who suggests the highest listing price is not necessarily the best choice. If the price is too high, this might cause your property to stay on the market longer than necessary.
- Is it a good time to sell my home?
A reliable real estate agent will give you an honest assessment based on market trends and conditions. They should be able to back up their assessment with updated figures, such as the average number of days it takes to sell a property on the market, list-to-sell ratios, and other important real estate market information.
- How can you sell my house fast?
An experienced agent often has an arsenal of marketing tools that they can use in marketing a property to the right buyers. These include listing sites, brochures, newsletters, and advertisements on relevant publications. The agent's network can also play an important role, especially if you prefer not to promote your home on public listing sites.
- What is your fee and what services come with the fee?
In Monaco, the standard commission fees are 3% to be paid by the buyer and 5% to be paid by the seller. If an agent asks for more or less than this, ask them for the reasons behind the difference.
An agent that asks for a lower commission is not always the best choice. Perhaps their marketing services are limited. Or perhaps, they might try to sell your home at a higher price so they can still get a sizable commission. As previously mentioned, this may lead to your home languishing on the market.
- How will you price my property?
- Look into the types of property the agent has sold in the past
It's best to work with an agent who knows the ins and outs of selling a property type, such as luxury properties or waterfront homes. Each market niche has specific nuances that only experts will know about. They understand what buyers are looking for in a property and can guide you in making yours attractive to the right buyers. They will also know how to market your property to the right buyers, as well as the best negotiation techniques to use.
- Consider the size of the agency and their transaction volume
The size of the agency can have advantages and disadvantages. If the agency is too big with numerous clients, it may not be able to provide you with the personalized service you seek. A smaller agency with limited clients may be the better choice if you're looking for a one-on-one kind of interaction with your agent.
On the other hand, if an agency has far too few clients, that may also indicate a lack of experience or earned trust from clients.
If you're looking to sell a property in Monaco or the French Riviera, you can rest assured you have a reliable and trustworthy partner in Sparks & Partners. We will be happy to answer all your questions about our services and let you know how we can help you achieve the highest possible profit in selling your home. Call us today at +377.97.777.000 or send us an email at email@example.com. You can also drop us a note here.