1/ Hiding/avoiding the properties ‘bad’ points
'Selling' is all about showcasing the features, downplaying problems by handling objections and re-framing, though… isn’t it? No. Or at least it shouldn’t be.
On all our listings, we present the properties accurately, honestly and without hiding problems. At the end of the day, the people that view will discover them anyway. By being honest from the get-go we:
- manage expectations;
- convert viewing into offers at a higher rate and;
- reduce the risk of a fall through down the line.
PUT THE RIGHT PEOPLE OFF!
2/ Focussing on ‘what your house is worth’ vs. ‘what your listing price will be
Not all agents are equal. Within the corporate world of estate agents, we’re taught the wrong things…
KPI’s in the traditional agency office revolve around up and cross-selling wherever possible and clients into listings by any means necessary – normally in the form of over-promising on price only to have it sit on the market for 6 months, followed by a price reduction and squandering any competitive environments.
The main motivation for many agents on a ‘valuation’ appointment is to win your business, rather than to give you the best advice when it comes to your property listing. (i.e. marketing strategy, price/presentation to achieve best market value).
The point is, when you get agents around make sure they aren't parroting your goals or over-inflating to get your business. They need to come prepared with research and an actual strategy designed around getting you the best price.
3/ Under-presenting the property
Gone are the days you can have 6 photos on a listing and a ‘video’ which is the same photos in a 2002 auto PowerPoint slide.
To put it into context, often we have at least 30+ photos and an extensive video showing every angle nook and cranny so that when people come for a viewing it feels like a second walkthrough.
Review your potential agent's previous listings for reference.. do they tell the whole story? If not, you might be attracting the wrong people for viewings.
4/ Not asking the right questions when you invite the agents around.
a. “How do you create competitive environments to get the best price”
b. What is your typical strategy, and what’s your avg performance?
c. What is your average viewing-to-offer ratio?
d. Are we tied into a contract? And for how long?
f. Who will be managing my sale from listing through to completion?
g. Can you show me some real-life examples of how your strategy has worked for others?
5/ Not knowing/planning for your best outcome
Are you looking to move quickly?
Do you need to sell this to buy it somewhere else? If not, could you be a landlord?
What do you need to achieve for your next home?
Are you downsizing, upsizing or sideways moving?
Deciding to sell is a huge deal! Make sure you’ve thought about your desired outcome before you talk to your agent. This way, we can work towards the same goal.
Bonus Tip
Build a team, don’t look for the cheapest options….
You really do get what you pay for. Think of the solicitors, agents, brokers etc as your selling team. Let's take Solicitors for example. The cheapest tend to have hundreds of cases on the go at one time and aren’t able to provide as good a level of service as the slightly pricier option.
