Most people are far more likely to say “Thanks, I’ll call you” or “I’ll think about it” than “I never want to see you again” or “there’s no way that couch is worth that much”. And although such honesty might ultimately make things simpler, imagine if people actually were – how would the other party react to such an uncharacteristically candid response?
This tendency to be non-committal is a challenge in the real estate world, too. Only the most skilled agents are able to effectively deal with it – to tease out the buyer’s true position and then communicate it, along with other important information, in a way the seller can digest. Bringing both parties to a mutually satisfactory outcome.
Overlooking this reluctance Australians have to be candid, quite a number of new companies have sprung up that specifically cater for owners who want to sell their homes themselves. Industry conspiracy theorists even believe that the long term game plan of realestate.com.au is to cut out the agent entirely.
In part, the trend understandable – technically, a seller can sell their property themselves. And as the private sale companies say in their advertisements, why shouldn’t the property owner owner get to keep the $5 or $10k the agent would have taken in commission?
But in reality, would they?
In fact, the private seller would only be guaranteed of “pocketing the commission” if real estate had a set price. But it absolutely does not. The commission is a percentage of the end price, not a fixed fee.
So here’s some more questions for the would-be private seller;
Will they be able to get the best price? Do they want to organise the campaign, conduct the open homes, deal with the buyers, and make the necessary phone calls to follow up? And more importantly and the point that’s so often overlooked – do the buyers want to deal directly with them?
Or will those buyers just be saying “Thanks, I’ll call you”?
All the best