Choosing the right agent
The greatest problem facing home-sellers is lack of information so here are some costly mistakes made by home-sellers and some handy hints to help you achieve your goals.
Trust the Agent
You need to select an agent that you can trust – If you don’t trust them, don’t hire them. A major ingredient in any relationship, personal or business, is TRUST. Before you choose your agent, ask yourself the BIG question: “Do I feel comfortable with this person handling the sale of my family home?” If your answer is ‘no’, do not hire the agent. Once you hire the agent, give the agent your trust and confidence to make decisions and find the right buyer for your home. The best agents are worthy of your trust, they won’t let you down.
Paying for Advertising
Home sellers are often pressured to pay thousands of dollars in advertising fees so that unscrupulous agents can use it to raise theirs and their agency’s profile. Basic marketing of your home should be a service that is built into your commission, or better yet, complimentary. Don’t sign anything that asks you to pay money in advance. If the agent is so convinced that paying for advertising is a good idea, let them use their money.
Buying your Business
All agents know that you would love your home to be worth more than it is. Some will play on your emotions and tell you what you want to hear and you may be tempted to believe them. Don’t be fooled. When an agent tells you a lie about the sale price of your property, it’s commonly known as ‘buying your business’. If you choose an agent based on the price they quoted you, you could find yourself badly disappointed. If you suspect that an agent is attempting to ‘buy’ your business, insist they give you their estimate in writing AND charge you nothing if they sell for less than the estimated price.
Cheap Agents, Cheap Prices!
Be careful choosing an agent-based purely on their fees. Better to pay an extra 1% for a selling fee than to receive 10% less on your selling price. Good negotiators rarely give big discounts on their fees and if they get you the best market price, they are worth the fair fee. “If agents give their own money away, what do you think they will do with your money?!”
A Database of Buyers
Most agents get dozens of enquires from buyers each week. Many agents take their calls on the fly and never get back to the buyer. The best agents direct all of their buyer enquiry to a central number where the details can be recorded. When a home comes up for sale the agent can alert all of the buyers who are looking for that type of home immediately.
Open or Exclusive?
If you want agents to race each other to sell your home without the goal of getting you the highest price at the forefront of their minds – list it with multiple agents. By doing this you are effectively setting a challenge to unscrupulous agents to be the first to get a contract at any price to ensure that they’re the one who gets the commission. Put your eggs in one basket and choose an agent that you like and trust.
The Auction Trap
People who don’t sell at auction lose thousands of dollars to advertising primarily intended to build the profile of the selling agent and often sell at a price that they regret. Auctions are riddled with deceit. Be wary of agents who try to talk you into auction by telling you stories of incredible prices thousands above reserve. Your ‘reserve’ price is your lowest price, the minimum you will accept under pressure and auctions are needless pressure. Auctions start at a low price and need to keep going for you to get the best price. If all but one of the buyers drop out, the one who’s left isn’t going to keep going to your maximum price. A skilled negotiator selling by private treaty has a much better chance of getting the maximum a buyer is willing to pay.
Negotiation skills are vital to ensuring you get the highest possible price.
A good negotiator can easily create up to an extra 10% on your selling price. Ask an agent to quote some principles of negotiation to you and you will soon discover who the best is.
Revealing Your Reason
No one, other than the agent you trust, should know your reason for selling. Your reason for selling is confidential and can severely hurt your chance of obtaining the highest price. If buyers are privy to the information that you “must sell because you have financial problems”, it can weaken your negotiating position. Don’t let the reason for selling your home be the reason you receive a lower price.
Be careful what you spend on major improvements to your home in the lead up to selling. What suits you may not suit every buyer and waiting for a buyer with the same taste as you may take years. The main purpose of home improvements is to improve your enjoyment, not to improve your price. Remember, you rarely get back more than half the cost of your improvements when you sell.
Do not confuse improvements with the presentation, make your home sparkle and your price will shine. Pay attention to little things which create a big impression. Cleanliness is vital and a pleasant scent creates a pleasant mood. The smell of your home is one of the most important and overlooked aspects of selling a home.
Getting stuck with an agent who doesn’t live up to all of the promises that they made can cost you time and money. Protect yourself against these types of agents by insisting that they sign a guarantee. If your agent doesn’t offer you something that offers as much protection or more than the one below, feel free to use it. The best agents will always guarantee their service.
Why Choose Keyline
The Keyline Experience
When you sell with Keyline, you’ll join a long list of customers who have been delighted with the experience. The majority of our business comes from satisfied customers who keep coming back or as a result of a recommendation to their friends and family.
Ask around and you will soon find someone who will verify our claim to be the most ethical and capable agency on the Sunshine Coast. Read on and find out what sets us apart from our competition.
1. Appraisal and Advice
You’ve been thinking about selling but you can’t plan anything because you have no idea what your property is worth in today’s market. You don’t know how much time and money you should devote to preparing your home for sale. Contact Keyline Realty and we will put you in touch with one of our experienced sales agents. They will answer any questions you have and arrange a time to inspect your home or investment property for an appraisal – FREE OF CHARGE!
2. Comparative Market Analysis
Prior to the appointment, our staff will put together the information you need to help you decide what to do about the sale of your home. They will provide you with a detailed market analysis of recent sales in your area so that you understand how your home fits into the picture. They advise you how to prepare your home for sale in a way that will see you walk away with the most money in your pocket.
3. Questions and Answers
When you and your property are ready to sell, we’ll sit down with you and explain our system. You’ll learn how we’ll get the best price, why you don’t need to pay for advertising, the benefit of having a team on your side and a whole lot more. This can take up to an hour or even two – it usually depends on how many questions you have.
As soon as you’ve listed your property everyone at Keyline is notified and our service commences. Your property will be uploaded to our website and the major property portals as soon as possible, it will be featured on our property alert email, the sales agents will notify our registered buyers, the For Sale sign is arranged, the window display goes up. In no time, anyone who wants a property like yours is able to find it.
5. Team Work at Keyline
All the members of our team will promptly inspect your property prior to it going on sale. From then on they will all be trying to make a sale happen for you. They are all very personable and highly qualified with specific skills in negotiation, communication and selling. Our business is largely referral based so it’s in everyones interest to ensure that you get the highest price and are willing to report to your friends and family that you were delighted with our service once your property is sold.
6. Right Buyer Right Price
The right buyer will pay the most that they can afford when they deal with a skilled negotiator. All of our team have undergone intensive negotiation training and will ensure you get the best price. As you’ll have all of our agents trying to sell your home, you’ll have a much better chance of getting multiple offers. When an offer is made by one potential buyer, the entire sales team are notified and they encourage other interested parties to offer the most that they can afford as well. Often this results in an amount higher than the asking price.
7. Risk Free Selling, Guaranteed!
While many agents talk about good service, we’re happy to put our promises in writing with no fine print and no catch.
Simple Fee Structure – One single fee based on a % of the sale price with no hidden extras such as unnecessary advertising or marketing expenses.
No Sale No Charge – If at any stage you change your mind and decide not to sell there are no charges whatsoever.
No Lock In Contracts – If you are not 100% completely satisfied with the service you can cancel the selling agreement at any time.
8. The Future
Just because you are happily sold doesn’t mean our job as your sales agent is over. At Keyline we believe that all relationships built between staff and clients have shaped our business and are for life. We’re proud of the relationship that we’ve built with you and want to maintain it into the future. We will touch base with you from time to time offering our assistance with your next real estate venture in the hope of working with you again.