The value of trust
Wednesday 30 Aug 2017
There is no doubt the foundation on which the relationship between a vendor and their agent is based has changed significantly over recent times. I think it’s still all about trust but there is no doubt the online information age has had a significant impact on how trust is earned.
Discussion around the value of a property can be the deal breaker in terms of which agent and agency a potential vendor will choose to represent their property. At Morton we believe the relationship with a vendor is based on much more than a number.
These days with so much information available online, switched on potential vendors will have done significant amounts of research on where their property sits in the market. They watch listing prices of comparative properties and to watch the results of auctions. It’s all there to see.
So now when an agent presents their view on an estimated selling price they do so knowing the client will already has their own very informed opinion. Our agents recognise discussing price and value with a client has become a judgement of character as much as it is a presentation of information.
It can be like the Goldilocks and Three Bears scenario. If an agent presents an estimated selling price that is too low the vendor will think they don’t know what they’re talking about. Not good. If the agent presents a price that is too high the vendor will think the agent is already lying to us just to get our business. Definitely not good.
Identifying the right price, based on the right information with the right justifications and transparency is the way many clients judge the authenticity and integrity of an agent. It has to be just right.
But the number is rarely the only point that sells a property so it should not be the only point that potential vendors consider.
Perfect presentation of the property. Targeted marketing of the property. Understanding of the market. Knowledge of the precinct. Perhaps most important of all, trusted relationships with potential buyers.
So don’t get fixated on a number.
The value of trust, relationships and experience cannot be quantified but they are the factors that can achieve beyond existing benchmarks.