Lots Of Lookers
All too often activity can be mistaken for productivity. This is a dangerous trap that home sellers need to be aware of. Some real estate agents will “create” activity and later use it against you for their own gain! Activity or Productivity....you decide
Who is wasting your time
Any Tom, Dick and Harry can be shown through your home and as a result you’ll probably think….I’m having lots of inspections therefore lots of interest, that’s understandable, a normal conclusion. But what if Harry is the only one in a position to buy? The only one who has an approved loan, or cash in the bank, or has already sold his current home and now needs to buy. That basically means that all the Tom’s and Dick’s were a waste of time!
Imagine getting a call from your agent saying he’s got buyers to bring around; you’ve had a late night the night before and thought… I’ll tidy up in the morning or, the kids have been kids and the place is really not in the state that you would like it to be, so you rush around madly tidying up, just as you finish there’s a knock on the door, the agents arrived. As the agent is showing the ‘buyers’ around you overhear…….we really love it, but we do need to get our place sold first, or, we like it, but really need that extra bedroom and 2nd bathroom like we said…are you happy/not happy? Is that activity or productivity?
Why does this happen
The two main reasons this happens is;
2. Just plain deception
In the case of incompetence; it simply means that someone has not correctly qualified the buyer’s needs or wants, or capabilities. As a result you get people looking through your home that either cannot afford it, or it does not meet their needs, or they are just simply out for a sticky beak and so on. Is this activity or productivity?
In the case of deception; the agent already knows that the ‘buyer’ should not be inspecting your home but takes them through anyway! Why? Because he/she needs to be seen to be active to get the desired result they are after. This is where the sting comes in, you see after having ten or twenty ‘buyers’ march through your home, no nibbles, no offers, you start to hear little voices in your head saying….what’s wrong with my home, why is it not selling?
The little voices in your head
Now one thing you can be sure of and that is that the agent will almost certainly have started those little voices, the odd casual comment such as “gee we’re getting lots of buyers through Mr Seller, I am surprised we haven’t had any offers yet, I think we might be a bit dear”.
Whether it’s the fault of incompetency or dishonesty, the end result is the same you drop your price based on fiction, not cold hard facts. You’ve resigned yourself to the logic that it must be too dear and drop your price; the agent has now successfully used the activity trap on you to get you to reduce your price.
Fact not fiction
The better agents will bring the best genuine buyers to your home. They will continue to keep you updated on those buyers and if they end up buying another property over yours, at least you know the feedback is genuine and a possible adjustment to your price is warranted, it will be based on fact, not fiction.
With preparation and research, you will quickly and easily identify the agent you want to look after your money.
If you are currently selling, or about to sell, and would like someone independent sitting on your shoulder observing the goings on, without interfering in the process, drop us a line and see how we can assist. We understand that you might have only dealt with agents once or twice in your lifetime but we do it every day! Contact iREC and see how we can help.