I refer to the letter, ‘HDB resale: Sellers’ market or agents’? (ST, July 7), and concur with the writer that you can sell a property without an agent

I refer to the letter, ‘HDB resale: Sellers’ market or agents’? (ST, July 7), and concur with the writer that you can sell a property without an agent and, therefore, save on commission.

However, to succeed, the seller needs to be competent in real estate marketing, legal, financial aspects, and other knowledge and skills.

This is important because you need to negotiate with increasingly sophisticated buyers. You need to outperform competitors, use latest technologies and stay ahead of the fast changing market.

To achieve the best results, you need to be constantly updated on market conditions, including past data and reliable projections. You need to review and compare similar houses that are currently in the market, especially those that have been sold or not sold in the past six months.

In a technology-driven market, you must use technologies that will provide you with powerful, timely, and accurate information to make better-informed decisions. These expensive tools are absolutely necessary and you need to go through proper training and guidance to use them correctly to enhance the results.

It is important to manage the marketing process correctly. This includes organising the marketing campaign, handling phone calls, qualifying buyers, conducting viewings, organising open houses, negotiating prices, completing the paperwork and closing the sale.

You must be prepared to respond to every phone call, including prank calls and calls from competitors, property sightseers and nasty buyers. In addition, you may have to conduct viewings of your house without advance notice and at your inconvenience.

Negotiation is a sophisticated skill that will contribute to the success of your sale. To do so, you need to suppress your emotions to prevent conflicts, handle unreasonable criticisms and respond to buyers’ whims and fancies.

You must protect yourself against unscrupulous buyers. You need to also protect yourself, your loved ones and personal belongings as you will be serving many strangers in your house.

From the above information, you can see that saving on agents’ commission may not cover the expenses needed to market your house successfully. In addition, you need to invest a lot of time, energy and effort. By taking yourself away from your work and other endeavours, you will also incur unnecessary opportunity costs.

That’s why you need an agent - not just an ordinary agent - you need a professional and competent specialist, equipped with the best tools and working as a part of the largest team in the industry to serve you and lead you to success.

Source: The Straits Times, 14 July 2007