By Lynelle Johnson

Our home or investment property usually represents our biggest asset and Australian’s culturally tend to use an agent when it comes to buying or selling up. Only around 2 per cent of Australian’s market their own home compared to around 20 per cent in the US and UK.

But since the advent of the internet it’s doubtful whether agents are still worth their keep.

The first advantage of an agent is that they should be able to give you an honest appraisal of the current market and an estimate of what your home is worth compared to similar properties in your area.

But nowadays this information is readily available elsewhere. You can buy data on recent sales by postcode or get a statistical value of your home from companies like Residex. You can even employ an accredited valuer – which should cost around $400 - to give you a realistic appraisal.

The problem many of us face is that we are often emotionally attached to our property and have an inflated idea of its value. This can be particularly problematic if the market is soft or falling as it is at present.

This is not to say that the agent won’t initially agree to list the property at your self-inflated price. Although laws prevent agents from grossly misquoting on a property – to either seller or buyer – there is plenty of evidence to suggest that once listed the agent can then put pressure on the seller to drop their unrealistic price. “Remember a drop of 10% on the sale price is a lot to you but not much in commission,” says Rebecca Higham, manager of DIY site, owner.com.au.

A good agent should offer ideas on how to make the property more appealing. If you are clueless about décor, this is helpful. If talented, you will have already cleared away the clutter, fixed anything broken or peeling, turned that hallway into a study/nook, styled the home with fresh linen and cushions and made over the garden. Surely you have watched enough home renovation shows to pull this off?

Agents should take the hassle out of marketing – by taking professional-looking shots of the house, and designing and placing ads (agents get commission kickbacks from the papers or special deals).

But since most real estate advertising is internet based these days, it’s not difficult to be in the publications chosen by the agent anyway. Simply email your classified ad to the publication and they’ll upload it onto their site. In many cases, the publication will even make up your ad for you.