There are many reasons why a quick sale can be a fantastic result for all parties involved. Evan Broadbent lists his seven top reasons why every agent should have strategies in place that facilitate these transactions.
The buzz you feel from a quick sale that has resulted in both a happy vendor and happy purchaser more than compensates for that enduring sale that is seemingly taking forever to sell, if you sell it at all.
1 100 PER CENT STRIKE RATE DOES NOT EXIST
I don’t know any agent who has a 100 per cent strike rate for selling every property they list. The simple fact is the longer a campaign runs the less likely it is that you will be the selling agent of that property. We continue to benefit from strong real estate markets in most regions, but it isn’t always this way and buyers aren’t always as readily available.
2 TIME-POOR SOCIETY
Everybody is in a hurry. ‘I want it done yesterday’ or ‘I want it done ASAP’ are two of my favourite sayings, as I’m sure they are yours. In today’s society of instantaneous expectations, both vendors and buyers, and landlords and tenants for that matter, want things to happen quickly. Time is money, and people have never valued their own time as much as they do today. Save your clients’ time and create clients for life.
3 URGENCY CREATES ACTION
A common objection to a quick sale is that it is not in the best interests of the vendor, because the property has not been exposed to a wide enough market to create competition and seek further interest in anticipation of higher offers. It is a valid objection; however, therein lies your leverage in negotiations.
‘Mr and Mrs Buyer’, or Mr and Mr Buyer, or Mrs and Mrs Buyer (have we voted yet?) this property is yet to be advertised online or in print to a wider audience. We suggest you present a very enticing offer to avoid the vendors going down that path. Remember, you have an early opportunity and a head start on others, so don’t waste it.’
Is a big expensive auction marketing campaign, with a huge floodlit board and VIP night with champagne and canapés, social media videos and front page editorial, really all about the vendor?
4 THINGS CAN AND DO GO WRONG
We all have a story about a vendor who changed their mind (yes, I know – hard to believe) or decided they no longer wanted to sell, or were offended by a purchaser’s offer, or sacked you because you didn’t tell the buyers about the extra power point under the laundry trough which is great for charging the dust buster, or missed showing them how to use the foldout ironing board that you also forgot to list in the extra features or display in a photo.
Things can and do go wrong, and irrelevant of who is to blame you don’t get paid.
You have donated your valuable time to a vendor who will also share their trauma on Facebook.
5 MORE TIME TO PROSPECT FOR THE NEXT LISTING
As hinted earlier, some agents want a strong campaign to simply help promote themselves and their agencies, meet more potential clients and build their database, and so on. I get it. Absolutely. But doesn’t a nice quick sale actually free up more time to prospect for the next listing, plus achieve what we are ultimately employed to do – sell property? Don’t complicate it.
6 SAVE $$$
Print media may be on the decline, but online advertising costs are not. Although most offices now charge 100 per cent vendor-paid advertising, there is still substantial leakage in many businesses along with agreed but unpaid advertising to be collected, and deals done to secure listings. When considering this, along with a dollar value placed on your time, a quick sale has the highest profit margin – an important metric when assessing the success of any business. Not to mention the fact that you can also save your vendor thousands of dollars and most of them will be appreciative.
7 SOMETIMES THE FIRST OFFER IS BEST
No need to elaborate, plus I’m apparently over my word limit.
If you don’t have steps in place to increase your likelihood of achieving quick sales Evan recommends you visit quickrealestate.com.au and subscribe for free.
