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Bucking a trend in which agents are finding off-market buyers to make offers on properties, a Brisbane-based agency has kicked off a new campaign that wants sellers to “Sell Loud”.
Hutton & Hutton is behind the strategy which urges sellers to avoid taking off-market offers and instead encourages them to strategically market their home to achieve the best possible offer.
According to Hutton & Hutton’s group CEO, Peter Hutton, the private method of selling is cheating clients out of the potential to make more money on their home.
He argued that when agents present their clients with an off-market offer, “the sellers aren’t getting the opportunity to see the maximum potential of their property”.
“That’s why H & H are encouraging our clients to ‘Sell Loud’,” the CEO said.
The CEO, who also holds the role of principal agent at Hutton & Hutton Inner-North, said “there are three things that really drive up the price of a property: buyer demand, buyer competition and market transparency”.
“When we sell loud, we’re increasing the number of interested buyers who get to see that property, which increases demand,” Mr Hutton said.
He observed the boutique agency’s use of the “4, 40, 4, 2 rule” when selling property.
“Four weeks worth of open homes (maximum) will generate 40-plus buyer inspections, which leads to four-plus second inspections, resulting in two-plus competitive offers from the most motivated buyers,” the CEO explained.
Mr Hutton added that this is usually only the minimum figures, which the agency often outperforms on “because of the groundwork we put towards generating and increasing market demand early on”.
He said their process “usually sees us generating 70 buyer inspections, leading to six-plus second inspections, and resulting in three or more offers from buyers”.
For Hutton & Hutton Inner-East agent Ivana Reich, the Sell Loud campaign saw her achieve a transaction for $80,000 more than a previous off-market offer.
“After seeing the off-market offer, I recommended to the seller that we Sell Loud, and within three days we had 46 enquiries, 15 inspections, and eight offers,” Ms Reich said.
“The owner was absolutely thrilled and I was so glad she didn’t settle for the off-market offer and chose to Sell Loud instead.”
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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