The real value of a real estate agent isn’t in their ability to sell property quickly but in their ability to sell property for the best possible price. This is something that takes genuine intent, time and skill.
The strategy of selling in a good market where there is an abundance of buyers is very different to a poor market where there is a lack of buyers.
Selling quickly and quietly in a good market can cost you tens or hundreds of thousands of dollars. Think about it? If competition is King when it comes to selling any product for more money, why would you want to reduce your competition by selling off-market or straight after your first open home in a good market?
What’s seen as success in a bad market, is complete failure in a good market.
There is a reason an Auction campaign is typically run over a 4-week period and not a few days or a week and that is to give enough time to expose the property to every potential buyer in the market and then put them in competition to see who is prepared to pay the highest possible price.
Simply put, if you reduce your competition, you’re going to reduce your chances of selling for the highest possible price.
The only way you’re truly going to know what the best price for your home is, is if:
- Present the best possible product to the market (cleaning, styling)
- Reach and motivate every potential buyer in the market (marketing)
- Allow enough time for every potential buyer in the market to inspect your home via multiple open homes (Buyer Competition)
- Have a skilled agent with a genuine intent to negotiate the highest possible price from every interested buyer either by Private Treaty (closed door negotiations) or Public Auction (open door negotiations)
This is the blueprint to success, guaranteeing you achieve the best possible price for your home, anything but will guarantee you sell for less.