Can you believe that January is over and we’re entering the second month of 2019? This month I’m talking about opportunities and opinions.
Last edition I touched on our recruitment drive for exceptional people. I usually leave this until last but we are so enthusiastic that we want to highlight this first up. Over the coming weeks, we are very keen to expand our team and we’re currently recruiting for a new Real Estate Salesperson. If you’ve been thinking about a career change, enjoy interacting with people, have a ‘get-up-and-go’ attitude and want to push your own personal and professional boundaries then this opportunity might be perfect for you. To learn more about the role and how to apply, click on the image below.
Buyer Feedback, the decision makers and the opinions that matter
Now to a topic I want to raise that I believe is hurting property sellers…. Buyer Feedback! Please note those two words – BUYER and FEEDBACK. There are only two decision makers in a real estate transaction, these being the owner (referred to as the vendor) and the one prepared to pay for the property (referred to as purchaser). That’s it! Sure, agents will have an opinion and it should be professionally close to the mark but the agent isn’t buying the property.
Speaking of opinions, if you are selling you’ll receive them from your neighbours, your children, your parents, the local tradie, a work colleague, a friend or anyone else for that matter. Face to face their comments are nearly always glowing, for example ‘oh it’s such a beautiful place’ or ‘that seems too cheap’ or ‘it will walk out the door at that price’ or ‘if only I had the money, I would buy it’. Not many are as blunt to say, ‘you’re kidding; you have no hope of getting that price’. It is much easier to be pleasantly agreeable when not buying than it is to be brutally honest and possibly upset or offend someone you know.
Now remember those words “BUYER FEEDBACK”?
A buyer, by definition, is ‘one who makes a purchase’. The definition isn’t ‘one who turns up to an open inspection and says it’s really nice and worth the money but it’s not the property for me’. This type of feedback, if consistent enough, gets ingrained into minds of sellers and agents, who then believe all is well.
A better indicator of price is obtained when a ‘potential buyer’ is asked – ‘At what price does this become the right property?’. This can lead to a buyer’s honest and yes, sometimes offensive opinion. However, this type of questioning is seldom used by other agents. Many simply won’t ask for fear the truth may offend and cause a rift with the client. For them it may be easier to agree with the seller and be happy than to deliver real price feedback.
But what makes a seller really happy? The highest price sale so they can get on with their lives.
In a rising market, with a little patience, the high price will come sooner rather than later. In a declining market, patience and misguided feedback can cause substantial monetary loss and put a seller’s life on hold.
It is so important to be mindful of third party (non-buyer) feedback or opinions. As a property owner, the decision is yours. Sometimes the best buyer is the current owner. If the seller’s love, enjoyment and benefit of the property outweighs a buyer’s price opinion, the seller is already the best buyer.
Whether to accept an offer and sell, or not, rests in the answers to two simple questions – which I will cover in the next edition.
Finally, we are excited to be introducing some new marketing tools including a refreshed and user-friendly website which is now live. This new look website highlights new properties, includes a map search facility and contains a fantastic library of information for both buyers and sellers. We are always interested in answering your questions and providing valuable, informative articles so please submit your questions by clicking on the link below.