It’s easy to say the wrong thing at the wrong time, but when it comes to selling your home, there are some things you don’t need to say to your real estate agent. They have probably heard it all before!
In this latest blog from Gott Realty, we present the next chapter in the series of Tips for Selling your Home – What NOT to say to a Real Estate Agent.
The statement we always hear that is a big mistake?
“We are not in a hurry to sell!!”
Almost every real estate salesperson has heard these words from sellers at some stage during the sale of a home.
Why do sellers make these statements?
And what are the ramifications of making this statement? You have the potential to lose up to $40,000 selling your home.
Firstly why do sellers say during a listing presentation – we are not in a hurry to sell?
Fear is the main cause. Fear in that they may be under-pricing their home or lack of confidence in the salesperson they have selected in selling the home.
Very few salespeople do enough research into pricing a property using the latest data and combining modern advertising strategy to build confidence for the seller to know that they are not under-pricing the home and the advertising and marketing will attract quality buyers to the home.
Pricing a property is about doing research. Not only with the latest sales but market trends and mini suburb booms that may be taking place. Research takes time and understanding the data before a starting price for a home can be reached.
Expecting a salesperson to walk into a home and instantly price a home after a walk through is asking to lose up to $40,000 selling it.
The Flow-On Effect
How to avoid the dangers of under-pricing and making this statement:
- Don’t believe the hearsay from friends’ locals or neighbours about what a home sold for. From the time a sold sign appears on a property to when the actual sale price of that property appears in the public domain can take up to 3 months. Most people will say they sold for a great price even if they didn’t. No one wants to admit to under selling their home.
- Don’t take too much notice from an agent who say “I can’t see you getting any more than $XYZ”.
- Avoid Fake Pricing Methods[. Agents who use fake pricing methods to price a home are taking short cuts with price. By disguising the price with terms such as For Sale Now, POA (Price on Application), Buyers Around $XYZ would be interested, negates the conversation on price with the seller. The real reason for using fake pricing methods is to manipulate the search engines to a lower end of the selling zone to achieve a quick sale, which can cost the seller many thousands of dollars but cost the salesperson hardly any reduction in commission.
- Seek out an experienced agent who does their research into price and provides solid evidence with examples of at least 3 past sales of similar homes that have sold in the last 6 months and the number of days on the market it took these homes to sell. Make sure they don’t use fake pricing methods and have a totally transparent method to negotiation and dealing with multiple offers.
Making the final decision
If sellers have all the facts, the decision can be reached about selling or not.
The correct pricing of a home combined with a modern marketing and advertising approach will sell their home in a way that attracts quality buyers.
This will in turn eliminate the seller’s need to make the comment: we are not in a hurry to sell.
Tips for Selling Your Home – What NOT to say to a Real Estate Agent
If you’re thinking of selling your home and need some tips or advice, call us today on 0419 777 577 or to find out what your home is worth, enquire online here.
Thinking of selling your home? Speak to Gott Realty today!
If you’re looking for a real estate team that is honest, respectful and always acting in your interests, speak to us today about how much your home is worth.
Our team has unprecedented access to local property data and insights, and we are here to help you sell your property for the best price possible with the least amount of stress.
Gott Realty service Albany Creek, Eatons Hill, Cashmere, Warner, Lawnton and Bray Park and many more areas across North Brisbane. Learn more here on our blog.