Blog / Property agent
Saturday, 5 January 2013 at 00:50
In real estate agency today, you'll still find clients that want the greatest price or rent for their property regardless of market conditions locally. Unless your client owns a great property, it really is unlikely that any price or rent offer will reach their required benchmark.
An overpriced property gets quite stale on the market quickly. The buyers and tenants from your area understand what the actual prices are and does not generally make an offer on something that is beyond market evidence in price or rental. If the client chooses to list at a high price, they risk destroying any enquiry that may have learned to them. You may also be wasting your time.
The next question will probably be whether you want to take by using an overpriced listing. Some agents can do that for that potential for governing the stock and conditioning the client. Are you going to, but you do not need to become known as the agent that may list anything at any price. In addition, you should not be referred to as agent that may list and not covert your chance to a finalised transaction.
Follow this advice to assist you with overpriced listings and clients that refuse to listen to sound judgment:
Make certain you are talking with the actual decision maker. In corporate commercial real estate it's not unusual to possess a 'middle manager' increase the risk for first enquiries or approach. Respect their position and recognise they could possibly be speaking with key people behind the curtain.
Inspect the house with all the client so you can both discuss the features of the house as you can see them today as well as in the present market.
Get the customer to inform you the history of the property and why they bought it. Also ask the client to let you know why believe that someone should purchase or rent the house. Should be genuine provides you with some leverage to go over the present market today.
Give some facts and data regards the present property market with some real concentrate on comparable properties which exist available today. Compare those properties to people who did sell or lease. The purchase price or rent differentials will become important.
Show the client what sort of good property ought to be marketed today. When they wish to take their property for the market chances are they usually supplies you having a vendor paid marketing strategy as well as an exclusive listing. In just this way can you build the levels of inspection and enquiry the property deserves.
Don't let yourself be too eager to jump into an overpriced listing. Consider your entire options before you decide to go forward and balance those options up against the motivations from the client. Don't walk into your chance if you don't think that it is possible to service it.