THE SMART SALE
THE SMART SALE STRATEGY USES THE PRIVATE TREATY METHOD OF SALE, WITH SOME SUBTLE VARIATIONS AIMED AT OBTAINING THE HIGHEST PRICE.
If true genius lies in the ability to take something complicated and make it simple, then the reverse must hold true. Most common real estate methods take a straightforward process and make it dangerous, complicated and risky, for both buyer and seller.
The aim of any sale for the seller and their agent is to maximise the final sale price, with minimal risk for the seller and within the agreed time frame. The aim for the buyer? Find the right property at the right price without having to navigate the deception of false pricing and spending money for no result.
For both the property seller and buyer, simplicity leads to good outcomes, and simplicity is the hallmark of The Smart Sale. Most properties sold in Australia would benefit from this most transparent strategy.
During a private treaty sale, the property has a revealed listed price. It is a price the seller will accept and it allows the buyer to purchase the property at the asking price. A genuine asking price close to or at market value helps the seller maintain the power within a negotiation once a buyer is found.
WHEN USING THE SMART SALE METHOD, THE INITIAL PRICE IS SET SLIGHTLY HIGHER THAN THE EXPECTED MARKET PRICE AND THEN STRATEGICALLY REDUCED IF THE PROPERTY DOESN’T SELL.
Why start the price higher? Surely there is a risk to the digital footprint? Yes, and no, depending on how it is managed.
As a general rule, a property is advertised as soon as it is listed. The major websites such as ‘realestate.com.au’ and ‘domain.com.au’ are most commonly used, and a digital footprint quickly follows. If it doesn’t sell quickly at the initial price, all subsequent price reductions are visible forever, along with time on market.
To safely market a property and obtain the highest price, a strategy must exist to manage the conflict arising between digital advertising and the digital footprint.
FIND THE BEST BUYER – THE HEART BUYER
Occasionally, a buyer for a property defies market logic. They are a specific buyer for a specific house. This buyer will generally live in the property and it becomes their home. There is an instant and strong emotional connection. It might be a childhood home, close to work, close to friends and relatives, or maybe in the right school zone. Whatever the reason, these buyers are emotional and buy with their heart – not with the cold logic of a financial property purchase. They will pay a higher price than expected, often above market value.
The heart buyer, although rare, is unquestionably the first buyer agents and owners should consider. Often, the heart buyer falls into one of two categories.
- They have been looking for the perfect property for a long time. Generally, they have a lengthy list of requirements.
- They are an impulse buyer, who were not currently looking to buy, but just happened to see a property and fell in love with it.