12How to guarantee the sale of your neighbours property…..before yours!
If you are receiving a fair amount of inspections, but very little feedback from a number of different real estate agents, this should be a red flag. There is a very good chance that they are using your property to help them sell others. Some agents, having taken the listing for this purpose, will use this sales strategy and it is all by design.
Let’s say, for the purpose of this example, that properties are grouped into three categories, Top, Bottom and Winning properties (for the want of better descriptions). Now let’s imagine that the agent is going to show a qualified buyer, five properties.
Two of the listings will meet the buyer’s needs, but they will be priced considerably higher than the Target property, thereby serve to demonstrate value.
Two of the listings will meet the buyer’s needs and they will be at, or close to the clients target price range. However, in one or more aspects they will prove to be inferior to the Winning property. They could be smaller, in need of some repairs, or not in the preferred location. Once again, demonstrating the value of the Winning property.
• Winning Property
This property belongs to an educated vendor, who is committed to selling and with whom the agent has built up a good rapport as a result of consistent, honest feedback. The agent is confident of obtaining a written offer from the buyer today, because the agent has listened carefully to their needs and wants. The property itself not only ticks all the boxes, but represents better value for money in comparison to the other four; it is unlikely that the first offer will be the eventual selling price. After all, this is just the starting point and a competent agent will now work hard to deliver a win-win situation.
This sales practice has been tried and tested over many years, but it only works because owners of top and bottom properties provide the agent with the necessary tools. Make sure your property is the winner not the tool!