9 November 2015

Barry Liddle offers four tips to avoid these traps

Finding the right real estate agency is critical to achieving the best price for your property, says Barrie Liddle, director of Ozway Realty.

He says there is a huge difference between finding an agent who tells you they can achieve the price you want to hear and finding an agent who can deliver the highest possible price.

“The reality is the agent who can maximise the price in all likelihood will not quote you the ‘best price’ when trying to secure your business.

“Instead, they will give you a quote based on hours of research comparing the most accurate market facts.

“In many cases, the best agent will surpass the comparable sales results by between 3% and 10% more and their professionalism will not allow them to quote on opinions or ‘gut feels’.

Liddle says this 3% to 10% price difference is why sellers such exercise the up-most due diligence when selecting an agent.

“It’s an important decision and making the wrong choice can easily cost you tens of thousands of dollars, and, in some cases, hundreds of thousands of dollars.”

He says some of the pitfalls to avoid include:

  • Giving it to an agent who sells a lot of properties. Active agents often have huge monthly overheads and getting a sale takes precedence of securing the best possible price
  • Giving it to the agent who has been managing it. A good property manager is not necessarily the best salesperson
  • Choosing an agent who just achieved a record price; you need to ask – what were the circumstances?
  • Choosing an agent who will get you a “bargain” when you buy again. If they are betraying another client to get you a good price, why will they be loyal to you?

Liddle says bypassing these traps makes the selection process of an agent an important part of the sales process.

“Many sellers have the view that all agents are the same – that’s simply not true.

“To ensure sellers get the best agent for their sale it’s important to remember this is a job interview and you want to hear what they have to say – not what you want to happen.

“If you tell agents what you want, they will simply play it back to you to secure your business.

“So it’s critical not to tell them how much money you want, how you want the property sold, the size of your marketing budget or how you want buyer inspections done. What you want to know – is what they proposed to do to ensure you get the best price in the shortest time frame.”

 

About Ozway Realty

Ozway Realty is Australia’s first real estate membership that fully services successful real estate agents. We’re not your traditional agency. For a start, Ozway is an innovative real estate membership business. We are a collaborative membership organisation, not a hierarchy.

More: https://www.ozwayrealty.com.au/

 

For all media queries please contact:

Barry Liddle
M: 0414 494 553
Email: barry@ozwayrealty.com.au

December 9, 2015

Traps that people fall into while picking an agent to sell their property

9 November 2015 Barry Liddle offers four tips to avoid these traps Finding the right real estate agency is critical to achieving the best price for […]
December 8, 2015

PM CAPITAL Asian Companies Fund receives ‘Recommended’ rating from Zenith Investment Partners

PM CAPITAL today announced that the PM CAPITAL Asian Companies Fund has received its inaugural ‘Recommended’ rating from the leading independent research house, Zenith Investment Partners. […]
December 2, 2015

Technology not the end all solution for SMSF administration

There are significant misconceptions in the market about the role of SMSF accountants and administrators in the superannuation sector, says Olivia Long, CEO of the SMSF […]
November 12, 2015

Charter Hall Direct Office Fund equity inflows pass $175m mark

Charter Hall Group (ASX:CHC) today announced that its Direct Office Fund (DOF) has now raised circa $175 million since its launch, as a broad range of […]
November 11, 2015

Odds of a US rate for December rise rocket

The US Federal Reserve will step back on to centre stage this month with everyone wanting to know whether they’ll hike rates in December. The market […]