Look Beyond Your Own Experience
By Craig Lowe
Some of the most common misunderstandings about real estate sales and marketing strategy come from home sellers’ belief that their own experience of buying a house is representative of what everyone is likely to experience. This reasoning is completely understandable; our personal experiences form our view of the world, but that doesn’t make it correct.
A seller who purchased their home through a small, black and white, classified ad, for example, is often against the idea of larger more expensive colour advertising. Some people only look at one publication -either the internet, or a specific magazine – and feel that is the only place they need to advertise. Other common beliefs formed, based on like experience, include the notion that selling privately or listing “quietly” without advertising is preferable to marketing a property; there are sellers who simply don’t like tenders or don’t want open homes. The list of pre-conceived, and often inaccurate, ideas some sellers enter into the sale process with is endless.
Having said that, there are plenty of people who understand that experienced real estate salespeople have been through the entire sales process with literally hundreds of sellers, dealing with thousands of potential home buyers, and are happy to delegate strategic decisions completely. I usually find, however, that the initial part of the selling process is spent educating my clients to ensure they totally understand the sales process and I often have to work hard to ensure they do not make misinformed decisions.
I would guess that real estate salespeople deal with this more than any other profession. You don’t question or dictate professional processes with your lawyer, your builder or your doctor do you? While this is fairly understandable – to most people who have owned a home, the processes can appear simple enough - the fact is that excellent salespeople use a finely tuned understanding of marketing and buyer psychology, combined with proven processes and strategies to achieve the best results. An intuitive understanding of which is impossible for anyone to have without the same level of experience.
Of course not all real estate salespeople are equal in terms of the quality of service they provide. The level of experience and consistency is so varied across agents (unlike more formally educated professions) that it is a mine field of misinformation and bad practice. For this reason, the true key to getting it right is in selecting the right person from the outset.
You should make sure your agent has at least 5 years experience and has a proven track record of success. The experienced and highly successful agents are undoubtedly the best at achieving higher sale prices in shorter timeframes. For most people, buying or selling a house is the largest financial transaction they will make in their life – it seems ludicrous to roll the dice on an inexperienced agent. The difference is quite literally tens of thousands of dollars on the average priced home.
Interview someone you are confident has the right ability and experience, and whose judgment and advice you know you can trust. By getting a good salesperson to provide you a brief presentation on their general strategy, you will get a very good idea of whether that person is capable. Once you have decided on a salesperson, an open mind to the strategic advice will usually be well rewarded at the end of the process.
I have been selling real estate in your neighborhood for nearly a decade and would be delighted to provide you with my opinion on your home’s market value and the best selling strategy for you. Call me anytime on 021-764-647. There is absolutely no cost or obligation.