Hands up if you have sold a property, are trying to sell a property or thinking about selling and this very thought flashed through your mind…
“Maybe I could sell my own home and save a heap of money!”
I will bet that at least 90% of you have your hand up and gave this scenario serious, or at least fleeting, thought.
If that is the case, why then does the Sell Your Own Home Market represent a relatively small percentage of property listings in Australia?
New Zealand’s penchant to sell without agents is around 10%
It is difficult to quantify, but it appears that somewhere between 3%- 5% of the entire market is represented by ‘private house sale’ listings.
The emerging ‘each way bet’, PurpleBricks, doesn’t fall into the DIY category because if almost $9,000, with half upfront, is not a commission, well I’ll stand buggered.
What could be holding Australian home owners back?
New Zealand’s penchant to sell without agents is around 10%, the UK, around 20%, the US and Canada northwards of 30%.
Are we scared of something? Have we been brainwashed into thinking that hiring a traditional, commission based agent is the only way to sell?
As a passionate and vastly experienced Real Estate Consumer Advocate, I’d love to share my 5 Sure Fire Tips to Private House Sales Success to help you see that the alternatives are real, simple to execute and massively rewarding.
1. Give Mainstream Media a Wide Berth
“The market is crashing”, “Turmoil for the economy”, “Jobs under pressure.”
The more you watch and listen to the MSM, the more likely you are to feel anxious, inadequate, indecisive – and that is what it is designed to do.
(Psst…I haven’t watched or listened to a mainstream news or current affairs show for almost 15 years.)
Make your decisions based on your own research by finding and listening to independent experts who have a reputation for plausible reporting in their chosen field.
The muppet who is reading off the auto-cue is not your best source of balanced information.
2. Be careful of well-meaning friends posing as experts.
One thing I have learned personally and professionally is that the more people you ask, the further you get from making a decision.
The minute you ask for a relative’s, friend’s or co-worker’s advice, you have pinned the Sheriff’s Badge of ‘Holder of all knowledge’ upon them and given them permission to impart their opinion, possibly based on little or no exposure to the subject you are trying to grasp.
Sure, if they work in or have excelled in that particular field, buy them a coffee and ask away. If not, once again, find someone who knows the game and has played in it, with the bruises and scars to show for it.
3. Switch On and Be Prepared
Poor preparation produces piss poor performance.
Prepare, prepare, prepare.
Prepare your legal requirements by instructing a lawyer/conveyancer to handle contracts and any supporting documentation.
Prepare and present your home/property as if the Queen was coming to say for a night.
Prepare your marketing with professional photos, floorplans, a benefit driven headline and a concise, yet informative narrative.
Prepare to qualify, engage and negotiate with buyers. Asking the right questions, conducting helpful professional inspections, and finalising a win/win deal are vital keys to sales success.
4. Concentrate on the Three P’s – Controlling what you CAN control.
Understanding the power of these three components is THE key to sales success.
This what every home seller can control and adjust at any time before and during the sale process.
Present your home to IMPRESS buyers
Portray and Promote your home to REACH the greatest number of buyers
Price your home to ATTRACT buyers.
Put quite simply, if you leave any or all of these vital components ‘swinging in the wind’ your chances of meeting your expectations will be hampered.
5. Leave your emotions in a suitcase in a vault – any lose the combo
The biggest killer of a deal is allowing your emotions to lead the charge.
“If you sentimentalise property, you can kiss profits goodbye.”
Pride, anger and fear must be kept locked away or under control.
Judging buyer feedback or offers with these emotions at the front and centre is the quickest way to real estate demise.
Stick to the facts and the numbers whilst keeping a friendly, helpful demeanour and you will go a long way to sealing a win/win deal.
All in all, by following a few basic rules, behaviours and disciplines, selling your own home is not the herculean endeavour that some people (agents) will have you believe.
Come on Australia – let’s at least beat the Kiwis at something!