Platinum Coach – Choosing the Right Real Estate Agent – 21st May 2025

In this week’s webinar, you will gain a comprehensive understanding of how to work with real estate agents effectively to ensure you get the best possible outcomes when buying or selling property.

Led by seasoned property coach and former real estate agent Dan Betterridge, this webinar breaks down the agent mindset, the systems they operate within, and how you can protect yourself and leverage their role to your advantage.

Whether you’re a first-time seller or a seasoned investor, this session will sharpen your ability to select the right agent, negotiate effectively, and avoid costly missteps. Here’s what you’ll learn from this session:

Understanding the Agent’s True Motivation: The session begins by demystifying the real estate agent’s role. While agents are legally obligated to work for the vendor, Dan explains that most operate primarily in their own interest—aiming to secure a sale as quickly as possible. You’ll learn how commission structures shape their behaviour and why a small increase in the sale price doesn’t incentivise them nearly as much as it benefits you. This knowledge empowers you to better understand their decisions and assess whether your agent is working ethically and professionally.

Choosing the Right Agent: Dan stresses that not all agents are created equal. Many vendors don’t realise they’ve chosen the wrong agent until it’s too late. You’ll explore the difference between honest, service-focused professionals and those who overpromise or underquote just to secure a listing. Dan provides tips for interviewing agents, including what questions to ask about their negotiation strategies, how to spot “conditioning” tactics, and how to avoid being swayed by inflated appraisals or false claims about buyer databases.

The Power of a 30-Day Agreement: One of Dan’s most actionable tips is to never lock into a long exclusive listing period. He recommends a 30-day agency agreement as a service test window. This timeframe allows you to evaluate the agent’s performance and integrity before committing long-term. If they promise a database of buyers, they should be able to produce inspections within this period. If not, that’s a red flag.

Knowing the True Value of Your Property: Before speaking to any agent, you must know your property’s value. Dan encourages you to invest in tools like RP Data and attend local open homes to gather comparative sales information. This arms you with objective data to counter inflated or deflated appraisals, helping you avoid being misled by agents who “buy the listing” or who undervalue the property for a quick commission.

Commission and Advertising Negotiation: Dan dives deep into the maths behind commission and advertising. He reveals how little financial incentive agents have to push for higher prices and explains how advertising often benefits the agent more than the vendor. You’ll learn how to question advertising spend and when it’s worth it. Importantly, you’ll also explore how negotiating commission is not just about cost—it’s a test of your agent’s negotiation skills.

Understanding Agency Agreements: The session outlines the different types of agency agreements—exclusive, open, and conjunctional—and how they affect your control. Dan shares crucial insights into clauses around buyer introductions and “related parties,” which can expose you to unnecessary commission payments even long after your agreement ends. He advises limiting the introduction period to 12 months and excluding any contacts you might bring in personally.

Agent Behaviour – Gatekeeper vs. Conduit: Dan explains that good agents act as conduits—facilitating transparent communication between buyer and seller. Poor agents, by contrast, act as gatekeepers who filter and block information. You’ll learn how to identify which one you’re dealing with, and why this matters in deals involving delayed settlements, vendor finance, or creative terms.

Avoiding Common Pitfalls: The session addresses the dangers of auctions, over-reliance on agent feedback (often used to condition sellers), and agents who under-service clients due to high listing volumes. Dan offers practical tips on recognising these issues early and how to hold your agent accountable to high standards of service.

Taking Back Control: Ultimately, this session is about regaining control of your selling or buying process. Dan equips you with the knowledge and confidence to challenge poor service, ask the right questions, and make strategic decisions. You’ll walk away with a checklist of considerations for agent selection, negotiation strategy, contract clauses, and valuation accuracy.

By the end of the session, you’ll be empowered to engage with real estate agents on your terms. You’ll have the tools to ensure your property is marketed and sold with integrity, that you receive maximum value, and that your interests remain front and centre throughout the transaction.

Action Items

• Investigate the governing body that regulates real estate agents in your state/territory and review the relevant legislation.
• When selecting an agent, ask them about their negotiation training and strategies, and how they would handle different types of buyers.
• Negotiate for a 30-day exclusive agency agreement with the agent, and request a satisfaction and performance guarantee.
• Research the market thoroughly to determine the true value of your property before engaging an agent.
• Attend open homes in the area to observe how agents interact with potential buyers and gather market insights.