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Hi there, Jarrad Mahon from Investors Edge Real Estate. Thanks for joining us for what could be our last video in our series on How to make THOUSANDS EXTRA and reduce your stress when next selling your Perth property. I’m joined by Logan Duncan-Smith one of my savvy sales agents so thanks for joining me today Logan.
In this video we are really going to go deep into the effects that your agent can have on your sale price by their negotiation skills that they have. And I know every agent that sits in front of me may say that I have good negotiation skills but really the proof is going to be in the price that they get from someone isn’t it?
And what we’ve spoken about on our other videos is leading up to this point is how to create a context into your sale and get all those elements in line so that you can have the competition and have a number of buyers interested at that critical point. And leading up to now, we’ve spoken about furnishing your property if vacant, we’ve spoken about pricing to drive that competition that’s another major part to it. We then spoken about the marketing that you need to invest to get the exposure. Finally, we’ve been using local agents and putting them to work, something that we do that other agents typically don’t because they normally have that rivalry.
And then ideally we got to the end of that, we’re a couple of weeks on the market, we’ve got two buyers that are interested at the same time are working it together and we’ve got some competition. So, getting to that point, how does an agent be at their best to negotiate and what kind of difference are we making in the sale, by fetching far more than our commission, far more than our cost, we’re really getting that back in our sale price?
Logan: Yeah, something we do is stuff like weekly dialogue sessions with each other. We don’t wanna be warming up in front of a real life situation. So, it’s ideally typically in the mornings, we try to go through situations that came up that weekend that we didn’t have an answer for or just something that I saw or something that we saw in the sales training, that we think is worth implementing. In the end it’s just about the focus, it’s just about getting the best price, every dollar counts effectively.
Jarrad: Makes a difference, doesn’t it?
Logan: No definitely, it’s just finding an agent that’s willing to do that for you as well, its sometime just something as simple as calling a buyer back, you just make sure this is their best and final price. Sometimes people buy a house and they would be willing to pay more and you just don’t know.
Jarrad: One of the classic things we love to ask out seller is when you bought your house, would you go pay more if the agent had pressed it further and surprisingly on many cases, they themselves had that experience.
Logan: Yeah, specially family home buyers, investors are a bit different.
Jarrad: Ultimately you want to know that your agent has got the very best price out of that buyer. What are some of the things that help you prepare for that, the worst thing that buyers find about real estate agents is that some are like that pushy car salesman, you actually end up driving buyers away if you do that. What are some of the unique things that you know and how do you approach it?
Logan: With an investment of half a million dollars, you sort of don’t want to come across as a pushy salesman. You can push people away but at times there are times to push so it’s definitely a fine art and something we’ve studied extensively myself as well as the agency is neuro linguistic programming (NLP). And it just basically helps us be able to relate and read people as well as many other things but it’s very important being able to read and relate to people. And sometimes there’s time to push and sometimes we need to pause. It’s very important to be able to get those timings right coz if you push at the wrong time they go hiding, they go turned cold.
Jarrad: Getting the buyer to feel good about the price that they’re paying otherwise they get buyer’s remorse and they can pull out in the sale to settlement period.
Logan: Exactly, it really is a fine art coz you are still representing the seller and their best interest at the same time, you need to keep the interest of the buyer in mind as well.
Jarrad: Great, so selling with a savvy agent that has the negotiation skills can make a massive difference and I really wouldn’t think about going it alone or with someone that doesn’t measure up in that area. Thanks for joining us!