Choose a Price Defender not a Price Pretender

Pricing your home is not an easy task but if you are thinking of selling, it makes sense to ensure you’re employing the correct type of agent.

What’s your home worth?

 What an agent says?

 What the market is prepared to pay?

 What your friends say?

 What you think?

 What next door sold for?

Looking for an Agent? 
When you’re looking for an agent, most sellers get two or three appraisals.

Sometimes they are horrified at how far apart the prices are. Some agents tell you what they think you want to hear rather than a realistic price that the market will pay.

These people I call price pretenders. They either don’t know the market or they are “buying” the listing by suggesting a higher price than other agents.

Look instead for a price defender. This is someone who gives you good market information based on recent sales. Each sale is compared to yours and the differences are allowed for with a dollar value.

This we call a comparable market appraisal. Comparable, as it’s comparing like with like.

You want an agent that has carefully examined your home and all of the value add-on's that he/she can use to justify your price.

Knowing where all the extras are helps get an owner a truly great price.

Presentation
Price pretenders will often put your property on the market but you may not be in the market. This means that you may be on the market for a longer period and end up with more stress and a lesser price.

Remember, no buyer ever rushes in to pay more for a property that’s been on the market for a long time instead they hope that you’re under pressure to sell at a bargain price..

Price Defender
Price defenders also have excellent photography, videos, floorplans and brochures. These are used to give the buyers something to justify the high price they paid when showing friends what they are buying.

Finally, price defenders are good at justifying value in a tough negotiation.

Some price pretenders offer cut price fees suggesting they’ll save you money.

But ask yourself this…

“Does everyone at work get paid the same amount? If not, who gets more? I’ll bet it’s those who’ve been there longer, know more, have the experience and can command a better price. Agents who can defend their selling fees can defend your price. The price pretenders can end up costing you money.

Answer this question as well..

“Do you honestly believe that a house will sell for the same price, regardless of which agent is selling it?

If the answer is no, then you have answered the questions as to why some agents are more expensive.

They charge more because they can and they are worth it. They have a better value proposition.

Don’t employ your agent on fees but rather on value.

If an agent gets you 1% more on a $500,000 property that’s $5000 extra in your pocket, 2% more is $10,000 and 3% is $15,000. The numbers add up very quickly. A price pretender can end up costing you those dollars just as quickly.

Try this test. Ask for a discount. If they agree, run! You’re a better negotiator than they are. You would be better to sell it yourself.

If the rep is flexible in approach, has a sticking point they will not go past and can justify their fee. Pay it. It’s likely they will get you more. At the end of the day, don’t buy price, make sure you buy value.

You can not afford to put the right buyer in front of the wrong agent
One final analogy to ponder…

All surgeons are alike in that they have access to the same theatre, tools and staff. However, you would never think of shopping your family’s health, by selecting the cheapest surgeon. You would move heaven and earth to get the best for your family.

After your family’s health, your home is your greatest asset. Like your surgeon, trust this asset to the agent with a plan and proven performance, not just the cheapest fees. Trust and safety are factors not to be taken lightly. Who are you going to trust with the safety of your family’s largest financial asset?

Who do you believe will get the best outcome?

When buying an agent’s services, buy on value, not on fees and ensure it’s an agent you feel comfortable with.

Your gut can often be a good guide as to how comfortable buyers will be dealing with your agent