Feature article
How agents can help you problem solve in a tricky market
Conditional offers, pets in the house, how can agents help?
Last updated: 24 September 2024
If you’re selling your property in the upcoming spring/summer season, you’ll be relying on your agent to navigate a number of curly challenges for you. As the seller, you’ll want to pick the agent who is the most nimble and can roll with the punches.
We asked international top agent trainer Josh Phegan about how agents should handle the multitude of challenges thrown their way in a tricky market. We tossed a few at him and he came back with his recommendations for how a good agent should respond.
Buyers commonly put in offers conditional on selling their own homes. What can agents do to help solve the chain situation?
Josh: An unconditional offer is always the best offer, as it provides certainty for the seller and guarantees the purchase price. As markets shift, sellers may consider a conditional offer and it’s up to the agent to minimise their risks.
A conditional offer needs to be in the best interest of the seller, and one of the first things the agent will do is assess the saleability of the buyer’s current property.
Best practice is to keep the first property on the market (your home) while your agent attempts to sell the second, the buyer’s property.
It’s really important that the agent prices the second property correctly, that they work with buyers to maximise buyer appointments and bring offers for your buyer to consider.
It’s stressful for your buyer, as they may not proceed with their purchase if a great sale isn’t achieved on their own home. When there is a chain of property sales in the mix, great buyer matching, early offers, and a successful sales process are paramount.
Some listings come to market tired and under-maintained. What can agents do to help?
Josh: Property, presentation, promotion and price all determine the success of any sales campaign. Agents may recommend improvements to sellers to ensure you maximise the sale price. And, in the new world, financial products like List Now allow consumers to buy now and pay later. They offer short-term loans which can be used to pay for styling, maintenance and marketing of a property and are charged at a small monthly interest rate. These financial products are a great way to help with cash flow issues when bringing a property to market.
The agent needs to work with the seller to identify where the money is best spent to maximise the seller’s return.
How can agents help sellers with pets when it comes time for open homes?
Josh: It’s best practice for owners to take their pets with them during the course of an open home; it allows the buyers to have quiet enjoyment of the subject property. When it’s required that the pets stay at the property, it’s advisable to make sure they’re fed and watered and able to look after themselves. It’s important the agent feels confident to show the property with the pet in the home. Some buyers with allergies will need to be made aware that there’s a pet there, to prevent any allergic reactions.
A lot of buyers are expecting a bargain when they bid on a home and they may ignore the asking price. How can an agent help them kick off negotiations close to the asking price so the seller is happy to engage?
Josh: The agent needs to guide the buyer on how they’ve arrived at the asking price, demonstrate the market conditions of the day and create a competitive environment between buyers to maximise the sale price.
Agents use a mix of what’s on the market and what’s been sold recently to demonstrate market value. Markets are dynamic and the most recent sales and new-to-market properties are most indicative of market conditions.
Square metre rates for land, building replacement costs and rental returns can all be used by agents to back up the seller’s asking price.
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