This is understandably one of the most confusing decisions you have to make when you decide to sell your home. The two most commonly used methods to sell a property is either by auction or exclusive listing. Currently 93% of properties sell by auction (not necessarily on the day but within a 90 day period) and 86% sell under the exclusive agency method. Both of these methods are very effective and will ensure that your property receives the maximum amount the market will pay in a small amount of time. Other methods of selling are open list and sole agency but both of these methods are not commonly used and, in our opinion, will not give your property the best chance of achieving a premium price.
beware! beware! beware!
1. Agents who will attempt to buy your listing. These agents do not normally have much presence in the real estate sales arena and so will try to buy your listing by appraising your property at a price that is unrealisticly high. Tempting as it may be to try to obtain this exciting sales figure for your property, you will be doing you and your property a great disservice. This is a buyer’s market and buyers, thanks to technology, are experts in their own real estate price range. Statistics show that your property stands it’s best chance of selling within the first 4 weeks and it will not do this if you are overpriced. You will waste valuable marketing money and time. Your property will quickly be labeled “overpriced” and stands to be on the market for a lengthy period of time which will cause speculation as to “what is wrong” with your home as it has not sold and is not getting any buyer attention.
2. Not marketing. Anything you buy is the result of marketing. Your property, in most cases, is your most valuable asset. We, as agents, will design a marketing programme that will achieve the most amount of money for your home in the shortest period of time.
3. Friends and neighbours giving you “expert” advice on how to sell your home. Whilst they have your best interests at heart they are not professional real estate agents who have studied and worked in the real estate industry for decades. It is like us as real estate agents trying to perform open heart surgery.
4. Not letting the agent do their job. Some owners want to “help” as much as they can and take over the sales role when the agent arrives with the prospective buyer. Two things happen here. The first is that the buyer freezes and will not feel relaxed and comfortable enough to take in the features of your home. The second is that the agent will be unable to communicate with the buyer and find out valuable information such as objections to the property that we as agents could quickly overcome. We as agents also know when to get the buyer to commit to putting in an offer and this simply cannot happen if the owner is present.
5. Rejecting the first offer because it came in too quickly. Many owners live to regret this decision as the first offer can well be the best offer. Be aware that your property, if it is priced correctly and marketed correctly, can sell very quickly. This is the perfect result, the result that has been aimed for with an expert market appraisal and the designing of an expert marketing programme for your property. Listen to your agent – remember the figure your agent told you you were likely to receive when your property was first appraised.
celebrate and enjoy the sales process
Selling your property is not meant to be hard work and stressful – quite the opposite. Selling is an exciting, wonderful time where you work with your agent to move on in life. We look forward to helping you achieve your real estate goals and to sharing your journey to the next chapter in your lives.