Property Strategy Tips From a Successful Buyer’s Agent, Reece Coleman.
Buying and selling property can be challenging and with complex processes. There’s a lot of noise to cut through and in and outs to understand. So much so that people like me have made a career out of it.
As a licensed real estate agent and a global relocation professional of close to 20 years, I have picked up a few buying and selling strategies across my career. Here’s a snapshot:
Choosing the right type of sale (buyers and sellers)
Sale type is one of the most important aspects of a successful property transfer. Options vary from tender to auctions to private sales, but the goal remains the same: to get the right price, at the right time. Today, more and more buyers and sellers are favouring off-market sales, which are beneficial to buyers and sellers alike, saving both parties time and money.
Marketing your property (sellers)
Marketing a property is no longer just about signage, listing services, real estate platforms, email lists, and open houses. Today, effective marketing strategies include: harnessing the power of social media, specifically platforms like Instagram and Facebook; leaning on networks and relationships – word of mouth has never been more powerful; and embracing technology, such as virtual showings and live question and answer sessions.
Making offers (buyers)
Do your local research. Research the history of neighbouring properties to understand local demand. Look at what has been sold and when it was sold, attend other open inspections and auctions, and compare the state of play. Robust comparable sales analysis and supporting documentation are your best chance at securing a property for true market value. It’s also beneficial to uncover the vendor’s motivation to sell, as there are often factors in play other than price – e.g. timing and sentiment.
Negotiating (buyers and sellers)
Negotiating can be a daunting prospect for buyers and sellers, however with the right research and a solid offering in place, you can secure the right price at the right time. It’s important to remember to leave your feelings at the door and apply pressure only if you are confident your terms are acceptable. Emotions and urgency can cost you a sale.
Facilitating fast settlements (buyers and sellers)
After an offer has been accepted, comes the settlement, which involves a long checklist of action items. Before you exchange payment for keys, it’s important to make sure everything is as agreed in the contract, e.g. pest, electricity and building inspections. If it’s not, this could delay or kill the deal. To facilitate a fast and seamless settlement, it’s important to have expert guidance on what needs to be actioned and when.
In today’s market, the best strategy you can put in place is a seasoned real estate professional who can walk you through the process and handle each step for you.
Focused on building relationships, a good agent will be privy to several off-market opportunities a week, have an array of marketing tools in their belt, have an up-to-date understanding of current market conditions, and get as many eyes on your property as possible. What’s more, they will keep a level head throughout the negotiation process.
About Reece Coleman
Very few real estate professionals in Australia understand the national and global market like Reece Coleman. A licensed real estate agent and a global relocation professional of close to 20 years, Reece has an unmatched track record of making home buyers’ dreams come true and building and growing investment portfolios.
As Head of Advisory at Maker Advisory, Reece is considered the voice of buyers in Australia and is driven to make the market work for you. Read Reece’s bio.
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