Is an estate agent’s “hotlist” worth it?

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Estate agents are a vital part of the real estate industry, but they may be able to do even more than you realise. As a buyer or a seller, getting onto your estate agent’s “hotlist” may be the key to unlocking the true potential of your real estate dreams.

Buying

Getting onto an estate agent’s “hotlist” as a buyer requires only one thing: be serious. We don’t mean that in the “Why so serious?” manner, though. For an agent to offer you their special attention, they need to know that you are serious about the properties you enquire about and the requests you make. To prove that you’re serious, you should do the following:

  • Commit to every appointment you make. If you’re unsure of whether you’ll be able to make it, do not set up an appointment. Be honest about your availability and respect the time of the agent.
  • Stay in communication. If you miss a call from you agent, call them back. If you receive an email, reply. Stay in touch with them to show them that you’re still interested.
  • Have a deposit ready or get bond pre-approval to show the agent that you are financially strong enough to back the requests you are making.

If you commit from your end, the benefits are almost endless:

  • The agent will notify you of properties that enter the market before they are marketed to the public.
  • Your agent will be able to narrow their search. Once you’ve thought things through on your own and discussed what you are looking for with your agent, they will know exactly which properties are perfect for you.
  • Once you’re on an agent’s “hotlist”, you will be able to get exactly what you are looking for without having to look for it.

Selling

Getting put on an estate agent’s “hotlist” as a seller takes a little bit more than a serious attitude, it requires a sole mandate. Sole mandates open up a world of possibilities for your listing, including the following:

  • Through a sole mandate, and getting onto an agent’s “hotlist”, you get focused attention and additional resources put into the sale of your property that open mandates simply do not allow.
  • You will be privy to special marketing tools and extensive listing options that help your property get noticed sooner.
  • The agent’s “hotlist” buyers, who are already geared for purchase, will be notified of your property immediately.
  • By assisting you with professional guidance regarding the marketing of your property, and helping you get the best price for your property, your listing won’t have the chance to grow stale and lose market interest.
  • Agents will go the extra length to put special properties that rarely enter the market onto their “hotlist”, especially if they already have a prospective buyer on their hotlist who is interested in such a property. In these cases, the sale of the property may be over before anyone else even knew the property was on the market.

From gaining access to additional information and resources, to receiving expert advice that the average client may not be privy to, it’s easy to see from these benefits that earning placement onto an estate agent’s “hotlist” is the best way to get the best in you real estate endeavours.

This article is a general information sheet and should not be used or relied on as legal or other professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your legal adviser for specific and detailed advice. Errors and omissions excepted (E&OE).