It is normal that all of us strive to get the best return we can get on our investment. So why would we take unnecessary risks? Time and time again we see vendors attracted to the lowest commission, a high tech-market disrupter promising to save you thousands of dollars, or a vendor trying to sell their own property.
In some rare instances this works, but more often than not it does not. Why?
Good estate agency practice has fundamentally remained unaltered for thousands of years: the agent’s role is to optimise the price for the vendor. The agent’s role is to act as a skilled negotiator.
Innovative new tools, such as drone photography, the use of analytics, optimising web presence, etc., the wider availability of data, etc. have all assisted the cause, empowering both buyers and sellers. Fundamentally however, the role of a skilful negotiator to represent your interests remains unchanged. It is the difference between achieving an average and an outstanding result.
At St Andrews, that is the is our principal focus: to achieve market-leading results for our clients using superior negotiation skills.
What is the best way for me to sell?
There are various selling techniques and variations thereof in circulation. Some have come in and out of vogue over the years. Some are little crazy, more intent on advertising the selling agent than the property.
At St Andrews we first and foremost are effective negotiators and marketeers and therefore use only two simple universally understood methods of sale:
Set a price or price range and do one’s best to achieve the best possible price in and around this price point. For the vendor and buyer this is an equally simple concept, that has stood the test of time. It is the way we are used to buying
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Auction (on or before)
Again a very simple technique proven to be effective throughout the ages. In its purest form, the property sells to the highest bidder in a public forum on a predetermined date. The agent’s role is to create excitement and engender
competition amongst bidders.
As a sub-text to this method, there is the possibility of selling before auction, should the vendor be sufficiently enticed by an early offer and/or there is vendor anxiety associated with a very public means of sale.
It is our job to recommend the most suitable of these methods for your property. We are cognizant of the fact Hobart is a small market where auctions have traditionally met with mixed success. In short, the market has to be ‘rising’, the
property has to be in the ‘right’ location and ‘right’ price-range and interest is widespread. Auction can be a highly effective method of sale, with a clearly defined time-line. However, it can also be a poor choice for certain properties.
Just as it is important to dress appropriately for a job interview, it is important you present your property as well as possible for sale.
Obviously, there are glaring differences between a property which is new or comprehensively renovated when compared to a run-down renovator’s delight. Notwithstanding the above differences, there are fundamental things that can be done to improve the presentation of a property. For instance, cleaning of: windows, front door, floor coverings.
The term ‘de-cluttering’ is over-used, but explains the important requirement to not over-crowd a room with furniture and other items. Repair of obvious cracks in plaster-work, leaks etc. are all critical items to attend to.
A whole generation of buyers have been brought up on a diet of home renovation programs and are well-versed in the business of ‘home styling’ and renovation ‘for profit’. Our experience suggests first and foremost (and where practical) structural defects be remedied. A well-furnished and neatly presented home is difficult to sell (or will sell for a heavily reduced price) if there is a large crack in the external brick-work.
If budget or lack thereof is a big consideration, we will advise where to best spend your money.