Selling Real Estate - Perception VS Truth (Part 2)

Perth Real Estate Sales News & Market Insights  |  20 May 2021

Real estate agents are in the business of relationship-building, communication, marketing, negotiating, conflict resolution, researching, selling, leading, and closing. The vehicle through which all of this is achieved is 'selling houses'. The sale of a property is the final result of the effort agents put into the above areas with all stakeholders. The degree of success is strongly influenced by their willingness to invest in continuous professional development.

So let's look at only one of these areas, negotiation.

From time to time, I'll hear an agent say, "I emailed the offer and acceptance paperwork to the buyers." So why do so many agents use email as a communication tool, where a face-to-face (in person or online) meeting is far more effective and will drive a better result? 

A sit-down or face-to-face meeting should always be the default formula to facilitate a robust conversation for negotiation. 

Why? Firstly, leaving the 'number' up to the buyer leaves the offer open to outside influence/intervention from other parties who are not qualified or invested in the outcome. A critical aspect of every agent's role is to;

1. Educate buyers and sellers regarding the state of the market, and
2. Facilitate a 'meeting of the minds' between two opposing parties

Without guiding this process in a highly skilled manner, negotiating an offer reflecting the highest value is unlikely.

Furthermore, an agent must form a connection with the buyer/s, spending time discovering what has motivated their interest in a property. Choosing a conducive environment for this to take place is also critical. Buyers are generally mindful that agents are working for the owners, and can often feel guarded. For all parties to feel relaxed and open to reasonable negotiation, a sit-down meeting is the best scenario for conversations to occur.

This also ensures that documentation is filled out correctly regarding clauses and legal requirements concerning tenancies, notice periods, and settlement terms. Covid-19, in particular, has caused numerous changes in the property industry and can be a minefield for those not 'in the know.'

If you're interested in finding out more about what it takes to be a highly skilled and knowledgeable Real Estate Sales Representative, call Jonathan Marlow on 9207 2088 or shoot us an email at hello@xceedre.com.au.