Buyers only buy real estate from certain agents and brands When house hunting, buyers will have a set criteria to which they will follow. When researching the market, a buyer will enquirer on those properties that suit this criteria and not which real estate is handling the sale. Buyers ultimately follow property not real estate agents.
The size of the agency affects sale price Price, promotion and presentation are the key factors that determine how much a property will sell for. The number of sales people or number of offices will not affect how much a buyer will pay for a home. The most important factor is the ability of the listing agent to bring genuine buyers to compete for the purchase of your home. Once this occurs the listing agents negotiating skill are crucial to the end result. Statistics show that 86 % of all properties sold are from the listing agent and not the other sales agents in the office.
Never sell in Winter Although the weather is not as good and the gardens aren’t in bloom, winter is a season that brings great results. This is due to the lack of properties on the market during this period. Demand for homes still remains regardless of weather conditions. Buyers who come out in colder weather are more serious to purchase and are generally motivated to do so within in a certain time frame. In saying this there are certain properties that will look more favourable in warmer months for example properties with pools will sell better in summer as opposed to winter. The best time to sell though is when you are ready, buyers shop all year round!
Advertising and Autions are too expensive Promotion of a home is directly related to the outcome. The more people who engage your property, the higher the chance it will sell for the absolute best price. If one chooses the option not to market their home they can potentially be taking away tens of thousands of dollars in the sale price. Connecting to buyers through an array of advertising mediums (eg) newspaper, internet, social media, window display and boards will create a magnitude of buyers, which can maximise the level of interest on a home, resulting in strong competition and a higher selling price. The use of a great auctioneer can work on the emotion of the moment and can influence buyers to pay a premium price. The performance of an Auctioneer is crucial, as they have a strong influence on bidders on the day.
Promise of high price and lowest commission will save me money Every seller in the world wants to think that their home is worth a lot of money and everyone wants the cheapest commission rate possible. Choosing an agent based purely on how cheap their fees and promises of premium prices is a risky strategy. Like with many things in life, there is a wide spectrum between something that is cheap and getting value for money. You should choose an agent base on their track record of sales results in your area and their track record in selling homes like yours locally. You should choose them because you feel you can work well together and because you really feel they will represent your property in the market to its full potential. Most importantly employ an agent that understands your home, acknowledges its positives and knows how to manage any negatives. It is very possible these agents - because they are very good - are not the cheapest.
Buyers will see – and pay for – the potential of my home It is a very common misconception - and even a huge mistake – that sellers regularly make to assume that the potential of their property has enormous value for them right now. To put this in its most simple form: imagine selling your car and saying to buyers, it has the potential to have built-in GPS and a V8 engine, so you are expecting a price that reflects it as if it did have those features. Potential is a great marketing tool. Genuine potential - which means your home has something that others in your area do not have - may add some value but only a limited amount. It rarely affects the value of your home as much as you may expect. The difficulty is that potential is all about what the property will eventually be worth if it’s potential is fulfilled. And fulfilling that potential takes money - and usually energy.