Wednesday, March 13, 2013

“Second time around...can I stand the pain?”

Selling your property the second time around is so much tougher, without the excitement and optimism that comes with a first sale attempt. When you sell for the first time (or when you’ve been in the property for many years) the entire process is exciting and full of optimism; and most sellers soon develop grand expectations as the process rolls out.

Not so after months of trying to sell, endless open inspections, hope, despair, hope, emotional roller coaster ride like nothing you could ever have imagined. Often too, humiliating as friends and family see no one wants your house.

Suddenly, the real estate agent's promises are treated with suspicion. Optimism is treated as sales spin. By now, most sellers crave honesty and a discussion around cold hard facts. No cotton wool, bare to the bone conversations that will enable you to make decisions with confidence. Decisions based on experience and backed up by facts.

The irony is that if these same criteria had formed the basis of the first attempt to sell (and agent selection) you could have had a great sale experience. You probably would have sold for a whole lot more money in the first two or three weeks, saving you a fortune in marketing expenses, not to mention the countless and thankless hours of household disruption.

So why do people put themselves through all this pain?

Greed? Greed and fear are two of the greatest motivators of people. Fear…hardly, given most virgin home sellers are generally excited and extremely optimistic. Greed...well hardly surprising given there is an entire real estate industry out there who’ve fed your greed. Recent changes to the Law have been necessary in an attempt to stop these age old practices.

It’s no mistake or coincidence that agents are overly optimistic when they appraise a property. Sellers see the agent as NEGATIVE and disinterested if they are not playing the greed game. These practices have been so bad at times, that sellers even know they are supporting a less competent agent.  They believe that at least the agent with the highest price (and generally lowest fee) will have a go. What is less understood is that "having a go" can backfire on the seller, costing them tens of thousands of dollars, sometime hundreds of thousands in the higher price range properties, as properties become stale and "damaged goods".

With out any doubt, the easiest time to get the best price for a seller is the first time around, generally in the first six weeks of the sale campaign.

So if you have a failed sale campaign, can you recover?

The good news is that the answer is: SOMETIMES.

A poorly marketed property, well marketed the second time can work. An agent who has a different clientele may deliver an excellent outcome second time around. A change of sales person can deliver a good result with a change of approach.

Do you need to change real estate agencies to achieve a better chance second time around? depends. There is a vast difference in the resources and capabilities of various agencies. If you move to a better equipped, more connected agency that’s one thing.  But if you have started with a well equipped agency, chances are a change of sales person - rather than agency - will be your best option.

Toop&Toop's DNA is selling homes others agencies couldn’t. Since 1985, when we started in a REALLY TOUGH market, we have always introduced innovation into selling. These innovations have won many awards; they have sold many properties where no one else could.

Nothing has changed - we remain leaders in sales innovation, and in results. Just this week we have launched several properties that have been marketed before, and we will sell them. They are great properties, we have the tools to access the right buyers, and we expect to optimise our clients’ results.

The market has improved; our team understand how to reposition properties and to optimise a sale, no matter how long they have been on the market, and no matter with whom. We also understand what is important to a seller, and rest assured, we will be direct, we are informed, and we won’t wrap you in cotton wool, unless you ask to be. We have a number of amazing deals for saving marketing costs too.

When it's time to get serious, it really is time to get Team in 3D.

Want a no obligation chat about your best selling strategy, call me or any of our team. It's what we do...hopefully without the pain!

Anthony Toop

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