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THE MYTH OF CHOOSING A “BIG AGENCY”

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By Lisa Hayden “You can’t sell a secret you know.” This is a line given by thousands of agents to thousands of home-sellers in order to persuade sellers to splash out more and more money advertising their homes. The theory goes like that the more places you advertise your home, the more buyers you reach.

Of course, anyone who knows anything about basic marketing knows that such reasoning is nonsense because most buyers look in several places during their search for a home.

The main purpose of real estate advertising (and all agents know this because it’s one of the first things they are taught in ‘agent kindergarten’) is to increase the profile of the real estate agent – and, in these days of the “celebrity salesperson” to increase the profile of the salesperson.

Agents who tell sellers that advertising their homes at huge expense is necessary are either incompetent or dishonest. Most (probably about 90 percent) of the money spent by sellers advertising their homes is totally wasted.…

Five reasons why using a good agent is a smart decision versus selling yourself

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Selling your home is one of the biggest financial decisions you’ll make, so it’s important to do it correctly. While it can be tempting to sell your house without an agent, saving yourself the fees, it’s important to recognise the advantages you have if you choose a good agent instead.

Time

Selling a home can be a lengthy process.  It can take many arduous hours to sell a home – free time an average person doesn’t have. Can you afford to take time off work to show prospective buyers through your home? Can you answer your phone whenever it rings to answer questions? If not, good buyers will be lost.

Stress

Selling your home comes with its own set of protocols and guidelines which as a seller you are required by law to follow. This quickly becomes a complicated process, particularly if you’ve never sold a house before. While you can use a solicitor’s services to assist with contracts and paperwork, other complications may occur during the sales process that will result in a headache. If…

How to interview agents

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Always interview at least two agents. (The only exception is if one agent is highly recommended by people whose opinion you respect).

If you do not like either agent, call a third. Keep going until you find the best agent. If you have to interview a dozen agents, do so. Do not underestimate the importance of choosing the best agent. And do not do what many sellers do – select the agent you dislike the least. Good agents exist. When you know what to look for, you will find one.

When you meet agents, look at their personal presentation. Do they appeal to you? Do they seem like nice people? Listen to your instincts. Show each agent around your home. Watch their level of interest by seeing if they ask questions or make notes.

After agents have seen your home, make them feel comfortable and then ask the question: “What will you do to get the best price for my home?”

Some agents will say, “How much do you want? or What figure did you have in mind?” Do not answer these questions. Not yet. Yo…

Things we promise NOT to say that other agents might

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Real Estate is an incredibly lucrative and competitive business and some Real Estate Agents will do almost anything to get listings in the search for commissions. Unfortunately reputations have been battered in the process. But just remember that not all can be tarred with the same brush.

The reality of Real Estate is that agents don’t have to rely on repeat business, so if a customer feels badly treated when selling their property, many agents won’t care and take the attitude ” the disgruntled seller left the area anyway. I will not have to deal with them in the future”.
A relatively new phenomenon in the form of online ratings systems and review sites does allow for a degree of exposure and for testimonials to be readily available, but sometimes Real Estate Agents do stretch the truth to get business.

“We need money upfront to advertise your property” One of the toughest tasks facing Real Estate Agents is getting listings (properties to sell) so this temptation to get a listing at …

12 Real Estate Myths Busted

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You mention you’re buying or selling property to one person and the next minute, you have everyone knocking on your door with advice. If buying and selling your home a few times made you an expert, we’d be out of a job! There are so many tall tales and outdated assumptions being told that it’s hard to know what is fact and fiction, so we’ve set out to bust some of the more common real estate myths we hear every day:1. Never sell in the winterThis is one of the most common myths that has been circulating for as long as I can remember. The assumption is that the only people who put their homes on the market when the weather is coldest are poor, desperate souls who will accept any price to pay for some firewood! This is simply not true. There are not specific months or seasons to sell property as Australia’s property market is active year-round (even during footy season!).2. Young adults have no hope of home ownershipThis idea that it’s ‘impossible’ for young people to buy their first ho…

Nobel Prize-Winning Concept

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If you are like most sellers, the thought of selling your home can be daunting. Selling your home is not usually something you do more than once or twice in your life. So how do you know what to expect or more importantly how to sell for the highest price?

When it comes to getting the highest price for your property, there is a tool that will optimise your chances of success.

The Buyer Price Declaration is a concept developed by economist, Sir William Vickery – one of several ideas that earned him the Nobel Prize for Economics.

This negotiation tool is demonstrably better than a public auction for sellers. With the Buyer’s Price Declaration, no competing buyer is privy to another buyer’s offer. This means that each buyer must offer their highest price without being influenced by what somebody else may have offered.

At a public auction the auctioneer declares the property will be sold to the highest bidder.  As a seller you want to sell for the highest possible market price. You don’t …

Open houses: The lazy real estate tactic

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Written by Andrew Trim

Many in the real estate industry speak highly of open homes. This tactic has become so common that many sellers are under the impression that open homes are the only way to sell a property. What many people are unaware of is that open homes typically have more benefits for the agent, rather than the seller.

Security Issues
A major problem with open homes is that it tends to attract the nosy neighbours and those researching rather than legitimate buyers. Open homes allow anyone to freely walk into your home, from curious neighbours to thieves. There have been many cases of thieves attending open homes to scope out potential targets. Open homes attract a lot of strangers, which makes it hard for the agent to keep track of everyone. Many agents don’t take personal details from attendees, so if a prized possession was to go missing you wouldn’t know who the culprit was. Combine this with the fact many insurance companies won’t cover open homes, they are a recipe for di…