Hows the new agent going?
Selling Agents
- Thread starter GreenTreeFrog
- Start date
When you want to end using your current agent make sure you inform him in writing. This is necessary even if your contact has expired. There has been cases when a new agent finds a buyer and the old agent pops up demanding commission. Always put everything in writing and remember you are employing them.
Know the exact sale price you want and don't let them start to condition you ie the bedrooms are too small, the bathroom is old etc. This will be the beginning of trying to get you to reduce your sale price.
A good agent will sell your property with minimum advertising. You don't need the full page spread. I've sold properties with a two line text ad with no photos.
Good luck
Peter
www.cashflowcalculators.com.au
www.privaterealestate.net.au
Know the exact sale price you want and don't let them start to condition you ie the bedrooms are too small, the bathroom is old etc. This will be the beginning of trying to get you to reduce your sale price.
A good agent will sell your property with minimum advertising. You don't need the full page spread. I've sold properties with a two line text ad with no photos.
Good luck
Peter
www.cashflowcalculators.com.au
www.privaterealestate.net.au
Thanks Peter. I put it in writing in an email and I got a reply to that email acknowledging my notice. And after the threat of coming back for their commission by the woman, I also asked them for a list of people who came through but they haven't supplied it yet.
New agent is going OK so far. The first open home they had 6 families through. Much improved on previous open home turnouts.
Out of Saturday's open home came a second visit today and two offers. One at $650k and one at $670k.
We are asking for offers over $699k.
The agent is already putting the psychological pressure on by telling us the place one of them is comparing ours to as a pool, same size block and is "only" asking mid $600's.
We will stick to our guns for now. What is the best way for us to respond to the offers? Flat out decline and say we are looking for offers over $699k or should we go back with a price in the low $700's and negotiate down?
Thanks for asking and the advice!!
New agent is going OK so far. The first open home they had 6 families through. Much improved on previous open home turnouts.
Out of Saturday's open home came a second visit today and two offers. One at $650k and one at $670k.
We are asking for offers over $699k.
The agent is already putting the psychological pressure on by telling us the place one of them is comparing ours to as a pool, same size block and is "only" asking mid $600's.
We will stick to our guns for now. What is the best way for us to respond to the offers? Flat out decline and say we are looking for offers over $699k or should we go back with a price in the low $700's and negotiate down?
Thanks for asking and the advice!!
Hi Melissa
Decline the offers and reinstate to the agent what selling price you are willing to accept (you can add a little extra to this for negotiation purposes). Tell him it's up to him to talk the buyers up as you are not willing to lower your price.
A great way to keep an eye on exactly how many are going through, if they are genuine buyers (compared to sticky beaks) and if your agent is doing his job at an open inspection, is to ask a friend or relative to wonder through the house during the open house period. Get them to enquire about the property from the agent - a great way to check if he gives our accurate information as well as keeping your personal information confidential.
Please keep me informed as to your progress.
Peter
www.cashflowcalculators.com.au
www.privaterealestate.net.au
Decline the offers and reinstate to the agent what selling price you are willing to accept (you can add a little extra to this for negotiation purposes). Tell him it's up to him to talk the buyers up as you are not willing to lower your price.
A great way to keep an eye on exactly how many are going through, if they are genuine buyers (compared to sticky beaks) and if your agent is doing his job at an open inspection, is to ask a friend or relative to wonder through the house during the open house period. Get them to enquire about the property from the agent - a great way to check if he gives our accurate information as well as keeping your personal information confidential.
Please keep me informed as to your progress.
Peter
www.cashflowcalculators.com.au
www.privaterealestate.net.au
I went back with exactly that and he is throwing the lines at me like Do you realise for that price you are competeing against such and such so lets be honest with each other, how low will you go with your price!
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As long as your price is backed up with comparable sales etc stick to your guns! He's looking for a quick sale and commission! Explain to him that you have hired him to achieve the price you want. Remember you can always be negotiable on the terms ie longer settlement etc to achieve the price you want.
Keep in touch
Peter
www.cashflowcalculators.com.au
www.privaterealestate.net.au
Keep in touch
Peter
www.cashflowcalculators.com.au
www.privaterealestate.net.au
Just keep one item in the back of your mind when dealing with REagents
the only name on the title is yours or the banks,so you have total control,it may not seem like that sometimes because half the time the agent think they own the property and can control you,and you want to sell for more not less,and as the costs to run a medium size agency are substantial, but it's not your problem, from my small experience in real estate the more competition between buyers and agents will ultimately bring you a better price,not matter what any flash in the pan upstart agents thinks..imho.willair..
Very good point. It smacks of desperation to me.
Having worked as an agent for about 5 minutes, I can tell you that they hate open listings, and won't work hard to sell the property, because they can do all the work to sell a place, then have the other agent sell it to another buyer (or maybe even the same buyer) and they get half the commission.
No; give them an exclusive listing - but limit it time-wise to no more than 60 days, then try another agent after this with the same timeframe.
I would take it off the market for a while after the first agent, as the buyers will see it's still on the market and try to low-ball you.
Of course; this whole scene only works if the property is priced realistically. Check out the recent comparables of similar sold properties in your area to get its value, or pay a valuer to come out and value it first. This way you'll be selling at a realistic price.
If it is too high, you are wasting everyone's time.
As I see it (being an ex agent)...You are probably worth @ $660k..what is the motivation to sell?...any 'low' offers in this range is a way of conditioning you to the true market...I like the idea of using friends to visit the open and glean info- it's a game..play it.
The second agent waiting in the wings 'always' has a buyer or 2 up their disappearing sleeve...if you really really really have to sell- think auction...if you don't have to sell..think of de listing for a while..till the market picks up.,,,until then expect more conditioning 'offers'-real or dummy..
just my 2c worth..
The second agent waiting in the wings 'always' has a buyer or 2 up their disappearing sleeve...if you really really really have to sell- think auction...if you don't have to sell..think of de listing for a while..till the market picks up.,,,until then expect more conditioning 'offers'-real or dummy..
just my 2c worth..
