There is a shortage of houses to sell and a huge surge of buyer’s desperate to buy in the inner 10km ring (and even beyond) who have been clamouring to get their hands on a new home since prior to COVID arriving here in March 2020.
Owners have been reluctant to put their homes on the market, not understanding the incredible opportunity being presented right now. Properties which have been prepared well and have a great agent are achieving incredible sale prices – and we can sell stock quickly because there are so many people out there to sell to!
Think about how much work is involved for your agent in getting your property ready for sale:
- Writing an extensive list of small changes and repairs and maintenance to maximise your sale price
- Assisting you with finding relevant tradespeople to undertake any of these jobs
- Helping to ensure you have the best styling by either organising a stylist or bringing in additional furnishings to add to your décor
- Assisting you in decluttering and storing any items
- Making sure that you are ready for photographs to showcase your home in its best light online and in print
- Writing a blurb which accurately depicts your property and assists the buyer to make the time to see it on Open Home day
- Uploading all these elements to online portals which will be seen by tens of thousands of potential buyers
- Designing and writing the copy for the Open Home brochure and street sign
- Delivering DL fliers to the neighbourhood to ensure you have every eye on your property – your neighbours are often your buyers!
- Fielding calls and emails from prospective buyers and encouraging them to come and see the property in person
- Negotiating the best price in market (usually with multiple offers) over the course of 2-4 days
- Bringing you signed contracts for you to choose from
So, why shouldn’t you sell your house off market?
- You may be missing out on tens or hundreds of thousands of dollars in sale price. If you don’t tell the world, most likely the person with the most money in their pocket to spend on your house never even knew it was for sale!
- Not every agent is going to go the extra mile to ensure you achieve the best in market – and, in truth, it’s less work for an agent to sell your home off market with such a strong buyer pool at the moment.
- Without showcasing your home to *every* potential buyer, you may be missing out of huge amounts of money, but the agent is only missing out on a few thousand dollars. Extra work (see above) does not always equate to a whole lot of extra agent which means that some agents use off-market sales as easy ways to make money without having to do the hard work.
- You could be devaluing the other houses in the street, and in the suburb because your sale price will eventually be public knowledge.
- There will be less money in your budget for the next step in your real estate adventure – whether you are upsizing, downsizing or “right-sizing”.
This is a bit of a dirty secret in our industry and most agents don’t want to tell you this information because it’s such a lucrative way for an agent to make a commission without all the hard work.
Don’t keep your property sale a secret!!
When you sell off market there are three people and two winners.
- The agent wins (they get a commission)
- The buyer wins (they usually get a property for cheap!)
- The seller is always the loser because they left money in the other two pockets
If you would like an honest appraisal of your property, and an agent who will get you the best price (not just any price), please give me a call on 0458 912 906.
