Hi Everyone
Just after some friendly advice
I have subdivided a block of land and wish to sell off the back block.
I have curently 2 agents listing the property , however no offers have been made to date. I have placed a premium price on the property about 155 above agents valuation. This type of land is hard to come across in my area Hence the higher price.
My dilema is that I dont feel either agent is doing enough to promote the property.
Therefore I am contemplating going to a sole agent situation. The question I have for my esteem property investor colleagues is how do I select the right agent. Should I propose a list of preselect questions to ask each agent.
I get the feeling that either agent just are no hungry enough for my business.
Any responses would be greatly appreciated.
Cheers
Beancounter
Hi Beancounter,
Asking $155K over agents valuation and you feel they are not working had enough – seems to me you want your cake and eat it too.
$155K overpriced is a big ask – so either you want to sell it or you don’t.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Hi beancounter
A property is only worth what someone is willing to pay no matter how scarce.
If you want to ensure you get the best price on a given day then put it up for auction.
If it is so scarce then the bidding will reflect the properties attributes.
As to chosing an agent look for the one that has the best track record. What have they sold?
To sell sucessfully they should have a marketing strategy. Ask them who the target market is and how they intend reaching them.
I’d like to sell my car – will you pay me 30k more than its worth. Its very rare.
Regards DarrenSorry Guys
Typo error 155 should read 15%
I would be pushing my luck to get a premium of $155k
cheers
beancounter
Open listing is the least effective way to sell any real estate. It’s kind of like ‘everyone gets a crack at it, but nobody is responsible for it’.
The agents probably are’nt working for you as hard as they could, for the reason that you’ve made no commitment to them.
I would recommend putting on with the agent who gets most results in the area as ‘exclusive listing’, or even a sole agency so you have the option to sell it yourself.
As far as selecting the best agent, go to some open homes in the area next saturday. See how the agents are representing their vendors. You’ll basically be acting as a buyer ‘shopping’ for an agent.
Hope this helps
beancounter,
compare apples with apples, a list of Q’s to ask each agent is a good idea. Ask them who their target is, what they will do to sell it, why should you choose them etc. Ensure their goals are the same as yours. Don’t pay any fees until they have sold it, get an itemised list of all fees/ costs.
A reduction in available properties has made it a sellers market from a point of view of what you can expect from your agent.Regards
Daryl
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