SHORT SALE NOT BEST FOR SELLERS
Realmark director John Percudani says selling a home as soon as it hits the market is not necessarily a good thing for sellers.
11.04.2009 – He says a sale has to be given the chance to mature to ensure sellers are uncovering the best offers.
“Many people believe that selling their home quickly is best case scenario, you don’t have to face weeks of home opens, your advertising costs are less and you avoid a situation of being stuck on the market not being able to sell,” Mr Percudani said.
“Many agents do reinforce this attitude since it is easier to take the first offer, rather than following a sale strategy that takes a few weeks.
“But when it comes to getting the best price, a sale needs to run its course, a good marketing strategy builds momentum for a number of weeks after the property hits the market and all potential buyers don’t always show themselves immediately.”
“Simply taking the first offer in fear means you are not letting the market speak and you may find that there is another buyer willing to make a higher offer,” he said.
“I see it happening regularly and some sellers are missing out on a lot of money as a result.”
Mr Percudani said the situation was probably a ‘hangover’ from tougher market conditions.
“Recent events saw selling a home, especially at the top end of the market, difficult, and this perhaps has sellers worried about being stuck on the market for extended periods,” Mr Percudani said.
“Also it comes down to advice from the agent, if the agent says take the offer a seller will.”
“It really comes down to finding an agent who gives you good, honest advice, sellers need to choose a sales specialist who tells them the reality of the market, not what they want to hear. “
Mr Percudani said sellers needed to get serious about agent choice.
“Find a professional, the office at the local shopping centre isn’t always best, remember a good sale result is about process and strategy, not personality. Too many people make decisions around whether they ‘like’ an agent, that is actually irrelevant,” he said.
“You don’t choose your accountant or your doctor because you like them, you choose them because you trust them and because they are specialists in their field.
“The sale of your home is a big decision that does involve a lot of money, give it the thought and research it deserves.”
Mr Percudani said it was actually a good time for selling.
“Sellers don’t need to be nervous about selling their homes, right now the balance in supply and demand makes it a good time to put your home on the market,” he said.
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