Personally, I wouldn’t pay for upfront marketing when selling my house, I wouldn’t want unqualified buyers entering my home, I wouldn’t accept ’market forces‘ as an excuse to justify poor results and I certainly wouldn’t like being lied to, especially when I’m trying to realise the true value of my major asset, the family home.
For many years now, Real Estate Agents’ involvement has often left the unsuspecting consumer angry and frustrated. It’s actually quite fascinating to see that technology, information and marketing methods have evolved, yet there is no direct correlation between client satisfaction and real estate marketing.
The following points have been put together to provide you with further knowledge and information about selling real estate. I sincerely hope you find them both useful and insightful.
• According to the Roy Morgan Image of Professions Survey 2012, real estate agents were ranked among the least trusted professionals in Australia. Let it be known, this has been a persistent trend over the course of the past 30 years. In order to best protect yourself, it’s imperative you ask something like the following question when interviewing an agent; “Will you please honour your professional reputation by signing an ‘agents service guarantee’, not just a standard real estate agency agreement?” Consumers, this is the ‘ace up your sleeve’, this is the key to separating the good from the bad. Be very weary of the agents that try to word around such a fair compromise. Be strong and stay firm, there are plenty more agents around!
• Recent statistics clearly show that 50% of buyers don’t even bother looking at a property that has no price guide. They are simply turned off because they feel as though they will be wasting their time with the agent as they wouldn’t know where they stood at the beginning of the negotiation process. Now here are another couple of questions to ask the agent, “What would you offer for a property that has a ‘Just Listed’ (no price) tag on it? Why would you consider this house over the competition? How can you conduct an ethical negotiation process with no price point?” In my opinion, it’s nothing other than sheer unprofessionalism and incompetence. How would you go about it if you were thinking to buy a house with no price indicator?
• 92% of buyers use the internet as a primary source for researching property. So my question raised by this fact would be, “Why do consumers have to pay for upfront marketing fees?” Well, my answer is simple; agents want to promote themselves at your expense. If they truly care about you, ask them to pay for the marketing. If they are so confident they will be able to sell your property, the expense will be more than compensated on payment of the agent’s lucrative selling fee once your property has successfully sold. You shouldn’t have to pay up-front for no result down the track. Here is some food for thought. Would you attend a fancy restaurant in which you have paid a huge sum of money upfront only to find out that you didn’t qualify for a meal, I can assure you that wouldn’t be a great customer experience either. How would you feel? Annoyed? Frustrated? Angry? … Refund? Give this analogy long hard consideration before selling your property with an agent.
• Do ’open-houses’ consistently create buyer competition in order to achieve the highest possible sale price for your property? … o! A professional agent will devote his/her time and effort to those seriously interested in purchasing your property. Ask the open-house agent, “What about the buyer database you were telling me about? I’m confused, I thought you had a great buyer database, great marketing campaigns, great recognition within the community and a great pricing strategy… I can open my own house, what am I paying you for?” I’ve never known a professional sales person to sit and wait for a result; I’ve always known that a real professional will pro-actively use their skill and knowledge to create a great result! This will come as a shock to the Real Estate system. I strongly urge you attend some open-houses and see how you are treated as a potential buyer. Then ask yourself, is this how you want your house to be sold?
If you are ever unsure or uncertain, make sure you seek independent financial and legal advice. There may just be alternative, perhaps better ways to sell your home!
Stay safe and enjoy ‘happy days’ in the real estate market!