By Gil Davis
“Time is money” the old saying goes, and in no field is it more appropriate than the business of selling property. Consider this: If you sold your properties twice as quickly, you’d make a fortune with all the time you’d freed up. Plus you’d get lots more sales because prospective sellers would be so impressed with your success. And ask yourself this – how many sales have you lost through expiry of agency? What time and effort did you invest in them for a big, fat nothing?
“All very well”, I hear you saying, “but isn’t that just a pipe dream?” The answer is that it’s easily possible when you know how. Vendors don’t actually want the stress and hassle of having their property on the market for an extended period of time. That only happens when things go wrong. Instead you need a planned, honest, and disciplined approach to listing and selling. In its essence, it’s a 2-part trick:
- Setting expectations. This starts at your listing presentation. Vendors want to know that you know how to get them from A-Z and every step in-between. You need to explain the process in some detail and how you will control it. This includes convincing them of the genuinely achievable market price and the pitfalls of over-pricing (it will take longer and they’ll end up getting less). Crucially you must specify what you will do and when, and how long the sale will take when (not if) they follow your advice.
- Meeting expectations. This is make or break. You have told them that you will have a painter there at 10am tomorrow to quote on repairs. The painter must be there with you at 10 am. You have told them that you will ring at 6pm following the inspection. You must ring at 6pm – not 5.55pm, nor 6.05pm. All this proves that you are to be trusted implicitly. So when you tell them that you have done everything possible, and they should accept the offer on the table, they will listen.
In future articles we will discuss the process of the listing and the sale in more depth. You will be amazed at how quick sales can become. My average days-on-market was less than two weeks to unconditional exchange irrespective of market conditions.