Not all Real Estate Agents are the same
Not necessarily, is the short answer. There are many factors to consider before this question can be truly answered. Where they advertise the property, the actual advertisement, their pricing of the property, how they represent the price, how they handle the enquiry, how they conduct the inspections and how they negotiate with the purchaser are the main ones. Not all Agents are the same. As well as these, if you do decide to appoint an Agent, you want one who listens to you, one you feel you can trust, one you like, one you feel is experienced and competent and one that communicates often with you throughout the selling process. Before appointing an Agent, it is good practise to interview at least 3 local Agents. It's like getting a quote from a tradesman, normally you obtain 3.
ReDIY can list your property on Major Real Estate Websites
ReDIY can list your Private Sale on Realestate.com and Domain.com.
The first consideration is the marketing and advertising of the property. Marketing and advertising are two different things. Advertising is normally either print or on line. Newspaper advertising is becoming more and more obsolete. The major Real Estate websites in Australia are Realestate.com.au and Domain.com.au. Your property needs to be on one or both of these sites. This is dependant on the state that the property is located. Realestate.com.au is the #1 overall, but Domain.com.au has the monopoly in some states. Marketing is actively seeking a buyer, rather than waiting for enquiry to come in. This is utilising a database of existing buyers, mail outs, signage, brochures and contact with the neighbourhood. The buyer could be living in the next street.
Marketing is Key to getting the price you want
Writing a tantalising advertisement for the major Real Estate Sites.
The advertisement needs to be eye catching and informative. The features, fixtures, fittings, extras and location should be disclosed in the advertisement. It needs to tell a story, highlighting the benefits of the home. The heading needs to be a great grab, emphasising the best feature. The quality of the photos is very important. They need to catch the attention of buyers, especially the main one, which appears on the first page of the online advertisement. You want to entice buyers to go to the second page to find out more about the property. There is an option to display the full address or only the suburb. There is a feature on these major sites which allows buyers to utilise the map function to see what other surrounding properties are for sale. If a property is on the market in a neighbouring street, they will also see yours, if the address is displayed. Some say, that by not displaying the full address, it will create more enquiry as buyers cannot simply drive by and dismiss the property from first impression. You have a choice to have a floor plan uploaded, as well. If engaging a professional photographer, they can do this for you.
How to Price your Private Sale
Pricing a Private Sale to attract the best buyers.
When it comes to the pricing of the property, there are options - an asking price, price range, offers over and no price. With an asking price, it is clear to buyers what price you are seeking. With the other strategies, it can be interpreted differently. What you must be aware of is that if an asking price is not displayed, for all to see, there must be a price range entered in the background of the portals. This allows buyers to search in a price range but the range is not visible. If using an Agent, make sure this range is discussed so that the property is represented in a range that you are willing to accept. When buyers enquire about the property, you want it to be represented correctly, in regards to price. An asking price is simply that and should be represented as that price. With the other options, it is not quite so clear. Make sure it is not represented at the bottom of the range or below the range.
Handling enquiries with ReDIY.
Handling of the enquiry is also important. The prospective buyer should be able to make contact readily and easily. The enquiry needs to be qualified. Are they a genuine buyer or just conducting research? Are they in a position to buy now? Does the property meet their needs? Are their queries answered confidently and accurately. You know your property better than anyone else.
Conduct Open Homes
Smart ways to entice buyers to my Private Sale Open Home.
The inspection can be handled in 2 ways. Either by an open home situation, or by a one on one appointment. Most Agents conduct their opens on a Saturday morning. Therefore, the competition is fierce. Buyers need to pre determine which properties they will inspect that morning. So why not have a second open on a Sunday. This is a more relaxed time for all concerned and will allow the buyers to have a more thorough inspection without any time pressures. It also allows all the decision makers to be present. Another option is to have an open on a week night, outside of business hours. The alternative is to make a time with each enquiry to conduct the inspections privately. If the buyer has not been pre qualified, they may not turn up though, which can be a time waster and frustrating. Having brochures at the inspection to hand out is a good idea. It reminds the buyer of the features of the property and what they liked about the property. Many buyers are looking at many properties each day so a reminder is beneficial.
Do Agents negotiate better than Private Sellers?
When you have a buyer interested in the property and indicating that they would like to try to buy the property, the negotiation commences. A skilled negotiator is your best ally. One that is working for you to obtain the maximum price from the buyer. When selling yourself, it could be advantageous to have a trusted friend or relative conduct the negotiations on your behalf. This distances you and stops emotion getting in the way of the negotiation process. Not only is the price negotiable, but the terms and conditions are as well. A contract that is $2000 lower, but with better conditions may suit your requirements better.
Sign up with ReDIY to get your property advertised on the major sites.
ReDIY can assist you to sell your property yourself. We can give you access to the major real estate sites, Realestate.com.au, Domain.com.au and other dedicated real estate sites to advertise your property yourself. Realestate.com.au does not allow private sellers to access their site, but ReDIY - (Real Estate Do It Yourself) can advertise for you, on all sites, for a low, one off fee. We need to be a registered Real Estate Agent for this access. That is where it stops. We are here to assist Private Sellers to do it yourself. The cost to advertise on Realestate.com.au, Domain.com.au and others real estate sites, with ReDIY is negligible, compared to commission, marketing and advertising costs, charged by Real Estate Agents. Why not try yourself and save big dollars.
Private sellers win against Agents.
So, back to the original question. Can Real Estate Agents get you a higher price than selling privately? If you do your research, become well informed and are confident, then "No."