Instant Reaction

Written by Paul Kounnas Wednesday, 07 December 2011

Selling in the current environment can be stressful. What the seller really wants is an instant reaction from the market place.

“Good, bad or indifferent, let us know where our home sits in the market, but we don’t want a protracted campaign. Once the offers roll in, we can then decide whether we are going to stay or sell.”

The good news is the internet has made selling real estate as close to instant as it is ever likely to be. Yes, even in a flat market.

Once your property is listed on the main media websites, the agent’s respective site, emailed to the databases and a signboard is erected, you will have covered 95% of the potential market in just a few days.

Based on the marketing and the perceived value being offered buyers decide to inspect or not inspect.

What comes next is an instant reaction.

A reaction to how the market views the value proposition of your property within the current market. They are assessing your home against the other homes that are currently listed on the market.

Given the internet is so powerful and dominant in its reach, embrace early interest, don’t resist it. The opposite is more confronting than early interest.

No reaction is still an instant reaction, no interest is feedback.

It is feedback that you may not wish to confront, but it is feedback. Buyers vote with their feet. If they are not turning up to enquire, turning up to inspect or turning up to offer, they are providing you with feedback through silence. This is the hardest feedback to accept because nothing gets said. The buyers whisper to themselves that they prefer the one down the road and move on – whilst you wait.

If you are on the market and buyers are not expressing any interest, you need to“read the play.”

Once your marketing is set right and buyers have visited your home, if you still don’t have an offer or two to consider, either the agent cannot sell or the buyers are finding better value elsewhere.

Very rarely does a seller that spends month after month resisting the market feedback suddenly find a buyer at the desired price.

Pricing to sell is putting a pricing strategy in place that will attract buyers and bring the campaign to a rapid conclusion. Price attracts or repels.

As a seller, you need to set your pricing strategy with an agent that you trust to negotiate the best possible price for you.

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