The Seller’s Trap!

fifty pound note set on a mousetrap on white background

Do you want the best results from your estate agent?

Everyone loves a bargain.  We all like to save as many pennies as we can to secure the cheapest possible price for goods and services, however sometimes this approach isn’t the best course of action if you want the best results – and selling your most valuable asset very much falls into this category.

Presumably, you want is to sell quickly, for the least amount of hassle and for the most amount of money. Correct?

With so much money tied up in the value of your house, falling into this particular trap is very likely to cost you thousands.

Yes, but don’t good estate agents earn a small fortune and just sit around ‘waiting’ for a sale?   Actually that couldn’t be further from the truth!  Selling property is a difficult industry to make a living in, and one which is constantly under extra pressure from bad press and horror stories.  Most good agents have gone into this business because they love property and enjoy meeting people, and a good agent works extremely hard for a living. The process of securing a proceedable buyer, negotiating the best possible price and seeing things through to completion is not simple. It takes experience, skill and a significant amount of effort….

So, you’re probably wondering what the ‘Seller’s Trap’ is?…

Let me explain all; the seller’s trap is when sellers attempt to knock down the price that their estate agent charges in an attempt to cut costs. Let’s say, for example, that your agent charges 1.75% for the marketing and sale of your property; what most people don’t realise is that this figure has been carefully thought through and covers the extensive marketing expenses and professional time that is laid out when selling a home properly.  This figure is representative of the amount for the work that the agent plans to put in to selling your house – which is not an easy job!

So, getting back to the point of this blog, it’s important that you understand why you really should not try to ‘haggle’ the price of your agent.

Selling houses is as much about the person (and company) selling them as the house itself.  Would you buy a brand-new BMW from a ‘dodgy’ backstreet car lot and pay the asking price?  I’m hoping your answer to that is NO!  If you find the cheapest agent, or you pay a good estate agent a discounted fee, there is only one outcome… a less attractive marketing package, less effort and less for your home. Think about this…. You are forcing your agent into a position where they will have to cut costs somewhere.  And then there’s motivation point of view – your agewalking-throughnt’s staff are only human – they should of course deliver on their duty to you, but are they going to go that extra mile in their own time for you if you’ve squeezed every ounce of commission from them? Would you?

hand-2-ipadThe bottom line is, if you cut corners, then you are forcing your agent to cut corners too. This will lead to less viewings, less offers and a lower eventual selling price.

Here are what I consider to be the 4 main marketing tools when selling houses:-

  1. ALWAYS use professional standard photography. The photos are the most important marketing tool without question, and no corners should be cut here. Does BMW use iPhones and sales staff to photograph their cars for their beautiful brochures?  Drones can be a fantastic tool for country properties too – aerial photography can be a fantastic was to show off beautiful Devon countryside not possible from the ground.
  2. NEVER negotiate the price your estate agent charges – in fact, this may sound crazy, but if you really want to sell for the highest possible price, you should be asking about what specialist bespoke marketing options your agent can offer. Increasing marketing reach with high quality creative methods may cost an extra couple of hundred pounds but will get you thousands more!
  3. GLOSSY BROCHURES are a must for the right properties – and they really do sell houses for more money.  Do you want someone having to return online, to remind them of your property’s finest attributes? Or do you want a professionally printed glossy brochure sitting on a buyer’s coffee table at home – reminding them how nice your property is?
  4. 3D SHOWCASE TOURS are becoming more and more prevalent – potential buyers want to explore properties on-line first before actually travelling sometimes 100’s of miles to view a property.  Your home should be an “open house” 24/7 and with a 3D tour it can be!

If you follow these golden rules, you should ‘come up trumps’ when selling, and get the viewings and offers you deserve!

Got a question? Don’t hesitate to contact me via the email or phone below.

flamewheel

Rob Stoyle MNAEA BNUC-S

Email: rob@helmores.com
Phone: 01363 777999

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