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We are now back to a normal market, given the last 18 months was the exception, not the norm. In this extract from his recently published book Real Estate Manual to Mastery, Adrian Bo details the steps every agent should take to achieve sales success in these market conditions.
Without fail – have a 30 minutes face-to-face meeting with every listed seller weekly until the property sells. This is a non-negotiable as you need to display “high evidence of effort” before you provide “high evidence of market feedback”. Many agents do it the wrong way around. The owners will listen if they know you are leaving no stone unturned.
With fewer registered/active buyers on your auctions or “for sale” listings, start having face-to-face meetings with them as well. Ask direct questions for direct answers, i.e. “Does your finance provide for you to exchange unconditionally if we agree on a price?”
“I am meeting with the owner this week to make a recommendation for a reserve price, there is no better person to ask at what price do you see value and what price do you think you could stretch yourself to if we end up with a competitive auction?”
Don’t rely on buyer inquiries from online and print listings. You need to go “old school” and start smashing the phones, SMS and emails from past open house lists, database, other colleagues’ hot buyers list, buyer’s agents etc.
It’s time to start promoting and boosting ($100-$200) your listings on socials, not just your sales. Use the geography map and “characteristics” to target typical “buyer origin” out of area buyers and the typical interests bespoke to the listing.
Process sets you free. Don’t be “outcome-focused”, meaning have confidence in your process. Don’t be deterred by having little interest or only one buyer at auction. If you stay in the process and make sure you “over-communicate” with your seller and all buyers, I guarantee the right buyer will appear and your seller will take on board all recommendations when you have a genuine offer. A premium price is important, but you can’t control “the market”. The market is a fluid process; however, you can control your process (accurate pricing, immaculate presentation and luxe marketing) to get a property sold regardless of market conditions.
Adrian Bo is a licensed agent and auctioneer, founder of a sales training academy adrianbo.com and author.
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