Apples and Oranges: real estate traps
There is a well-known saying that, ‘If something seems too good to be true, then it probably is’. This applies in many walks of life but particularly in real estate. And what is doubly sad and difficult here is that the sale of your property is, for most of us, the biggest financial transaction we’ll ever make.
It is interesting watching the tactics of many local real estate agents marketing their properties to the buying public. For the consumer who is unaware they will often see a property with an advertised price that seems ‘too good to be true’. In actual fact, it generally isn’t true! It is sometimes as much as 25% below the realistic value of the property, and not actually for sale at that price. Why do they do that?
What’s worse is that after the sale the agency then touts to anyone who will listen that they have achieved an unbelievable price for the vendor. But all they achieved was the true value of the property which was their full objective all along. How are these agents viewed by the buying public? These people spent time and money on building inspections & pre-approvals only to find out they had no chance of buying the property in the first place.
Do these tactics unearth the best buyers and create the best competition? Or have they just duped buyers from the wrong price bracket and therefore generated little true competition for the property? None of these people truly push the successful buyer to their maximum price leaving the vendor with the second best price. Therefore no-one knows how much more would the buyer have paid.
If the property was marketed at a realistic range, and the buyers were encouraged with strong negotiation skills to pay their maximum price, then not only would the buyers have more confidence in the system but vendors would achieve the maximum for their property.
If you would like your property aligned with the right buyers (apples & apples) and achieve your properties maximum value then give Hoskins Real Estate a call and ask us about our unique system of selling.
Hoskins are experts in selling real estate in Whitehorse, Manningham and Maroondah city areas. The Hoskins philosophy is to be the premium property people so we aim to deliver a premium real estate experience for all our clients – come see for yourself.
