Do you trust me?
Wednesday 27 May 2015
Let’s focus on the real issue. In real estate we’re never talking about small amounts of money. It’s a big decision to buy and an equally big decision to sell, so it makes sense that deciding who to entrust with the sale of your property is an equally big decision.
So who do you trust and what do you want from your selling agent?
I don’t think it presumptuous to suggest vendors are looking for a quick sale of their property for the best possible price. Vendors seek the guidance and services of an expert to market and negotiate on their behalf to get the most money available in the market for their property.
And that’s the real issue not being presented in all the hoopla around property selling above the guide price. It is not a matter of ‘underquoting’. It is a matter of the selling agent doing their job for their client and securing the best possible price for the property.
If it sells above expectation it doesn’t mean the Estimated Selling Price was wrong. It certainly doesn’t mean the price was intentionally set low. It does mean the Agent did their job to secure the best possible price available for the property.
The estimated selling price is based on fact. It is based on comparable sales and comparable properties. But remember right now the market is hot and records are being broken each week. That’s exciting but it can never be guaranteed and as I said in my blog last week the Estimated Selling Price has to be based on FACT not a fanciful figure based on hope.
When choosing an agent to sell a property vendors are looking for honesty and they’re looking for success. I believe you will find the two go hand-in-hand.