Tips for Sellers

When an agent quotes you a likely selling price, get the quote in writing with a clear condition that if your home sells below the price quoted by the agent, you do not have to pay the agent.
Sure, if the market price genuinely falls and ‘you’ believe the agent has made an honest mistake, ‘you’ can decide whether or not ‘you’ wish to pay a commission.
What’s the difference?
The painter gives you a written quote and has to honour it.
The Real Estate Agent gives you a written quote and does not have to honour it.
You would ask two questions of a professional service provider – first, what are you going to do for me (the price)?
And second, what are you going to charge?

If you sign up with an agent, put a limit on the time that you are ‘tied’ to that agent.
The longest time should be 90 days. Generally the shorter the period the safer it is for sellers.
You do not want to be stuck with an agent you don’t like. If you like the agent, you can always extend the agent’s time when the period expires.
Putting a time limit on a selling agreement gives you control over the agent, not the other way around.

Yesterday’s price is gone.
Sure, the price you can get today may be less than you could have got yesterday.
However, tomorrow the price could be lower than the price you can get today.
Too many sellers today are costing themselves a lot of money because they are holding out for a price that is no longer achievable.
The longer you wait, the lower your price can become.

When you are selling a property, you need the best price available in today’s market.
Do not confuse the price you want with the best price available.
Unless you are willing to take the BEST offer in today’s market, don’t even place your property for sale.

No matter how tempted you may be or how much pressure is placed upon you, never pay any money to any agent for any reason until your home is sold and you are satisfied.
Be careful that the agent’s selling agreement does not have a fine print clause which requires you to pay advertising expenses if your property is not sold or if you change agents.
Finally, Do NOT sign any contracts to sell your property until you speak with your own personally chosen legal adviser or Land Conveyancer.

All Agents will ask you to sign an agreement before you sell your property.
BUT remember that you are being asked to sign their agreement.
Imagine saying to your Agent: “I will not sign your Agreement until you sign my Guarantee.”
If any Agent refuses to sign this RUN!
This Guarantee is to protect you, the consumer and save money.
It has been recommended by the Real Estate Consumer Association.
At Lakes and Portside we will happily sign your Home Sellers Protection Guarantee.
How do you get a copy of this guarantee? Contact Us and we will send one to you!

If you don’t trust the agent – don’t hire the agent!
We understand that TRUST is the Major ingredient in any relationship – be it personal or business.
Ask yourself this question: “Do I feel comfortable with this person handling the sale of my family home?”
You need to trust your agent and give him the confidence to make the decisions and get on the job of finding the right buyer.
Try not to interfere!
Remember if you lose your trust and the agent has signed the guarantee then you can dismiss the agent.

Most real estate advertising is a waste of money.
Question: “Does advertising promote the agent or sell the house?” Who pays?”
Very few homes are sold because of advertising.
Sadly our industry is addicted to advertising, bigger ads, colour, competing in the market place to look “The best”.
At Lakes and Portside there will be no advertising costs, if your property does not sell.

We have found that buyers visit your area before they buy.
The area attracts them more than the advertising.
It can be such a waste of time, money and energy to place advertisements in The Advertiser which will reach thousands of people who won’t buy in your area.
This is why we keep our office AVAILABLE 7 DAYS and target our advertising locally.

Commonly known as “Buying your Business”.
Some agents inflate the price to win the business
OR
Others are unskilled at pricing
OR
Don’t wish to offend you and so won’t challenge your opinions
This is why Lakes and Portside guarantee that if we cannot sell your home in the price range we quote – we do not get paid.
Insist that your agent give you their estimate in writing and charge you nothing if they sell less than the price estimated.
This will help identify agents who are giving you false quotes.

Selecting a cheap agent may get a cheap price!
Please be careful in choosing an agent based purely on fees.
If agents are prepared to give their own money away imagine what they’ll do with yours.
Better to pay an extra 1% on your selling fees than lose 10% off your asking price.
Hint: Good negotiators rarely give big discounts on their fees.
Lakes and Portside guarantee that unless you sell your home at a price you are happy with there are “NO FEES”.

At Lakes and Portside we keep detailed records of buyers and keep in touch with them until they purchase or stop looking. We often hear the comment that our company is the only company that keeps in touch with them as a buyer. Insist on an agent who keeps detailed and accurate details of buyers as one of them may be your buyer!

In principal having a number of agents finding a buyer for you seems fine BUT the buyer will always go and talk to the agent they feel can help them buy the home at the lowest price – “How much will they take?” is a common question.
ALSO the agents will be in a hurry to sell your home before another agent sells it – the sales becomes important NOT the price.
Choose the agent you like and trust and that will sign the Home Sellers Protection Agreement.

Auctions rarely get you the highest price.
At Lakes and Portside we found that many buyers who bought at auction openly admitted they would have paid more.
The auction process stops at the maximum price the runner-up buyer is prepared to pay.
The buyer maximum is never tested.
The reserve price is the lowest price that a seller will accept, don’t focus on the lowest you will accept focus on the highest.
DON’T START LOW – START HIGH! You will always get a higher price.

You don’t need to open your home to strangers and people who are not in a position to purchase your home.
An open inspection is your choice, however at Lakes & Portside our preference is to only let qualified buyers view your home.

Signs are a 24 hour salesperson and attract buyers who specifically want your location.

Being available 24 hours 7 days a week and working weekends when buyers have time to search for their new home.

Good negotiators will achieve the highest possible price for your home. Ask your Agent to prove his negotiation skills.

Your reason for selling is confidential.
At Lakes and Portside we guarantee NOT to disclose your reasons for selling.
This can harm your chance of obtaining the highest price – especially if you need to sell by a specific date.
Too often many agents will advertise “MUST SELL” – “OWNERS TRANSFERRING” – “OWNERS PURCHASED”.

If using a price range to advertise your home, remember the buyer will always focus on the lower figure.

Please be careful with what you spend on major improvements to your home.
What suits you may not suit the buyer.
We feel that the main purpose of Home Improvements is to improve your enjoyment NOT your price.
Do not spend large sums on home improvements immediately prior to selling your home.

Dull homes get dull prices.
Do not confuse improvements with presentation.
Make your home sparkle and your price will shine!
Pay attention to the little things which create a big impression:
– The front garden
– Cleanliness
– Smell
– Uncluttered
– Brightness
Stand back and look at what buyers will see on arrival. A home that sparkles always sells for a higher price.

High prices often come early – low prices often come late!
Consider carefully the early offers you receive.
If the early price enables you to achieve your goals you should consider selling sooner rather than later.