I will repeat what I’ve said above. In the sale of your home, there are only 2 opinions that matter: Yours as the seller, and that of the best buyer. Not the agents. Not the free valuation website. Not the independent valuer.
What you should focus on is therefore finding the best buyer. And to find the best buyer, you need to maximise the buyer pool and therefore create buyer competition.
When interviewing your agent, ask these questions:
- How do they plan to create competition amongst buyers for your home?
- How do they plan to present your home in this digital age and the current market to obtain maximum possible interest?
- Are they planning to use social media and search engines to drive interest? How so? Have they personally used them and spent lots of $$ on such advertising and understand intimately how it works?
- Do they have the ability to change and adapt advertising copy on a constant basis to maximise eyeballs?
- What are they going to do to attract as many qualified buyers as possible to your property?
- What are the recommended most efficient and cost-effective marketing channels currently available?
- How are they going to help those buyers create an emotional connection to your home? Are they going to be personally present and deal with each and every objection rather than simply push the buyer to the next house or pass you on to their associates?
- Have they got the multiple linguistic capabilities to deal with a wide range of buyers so that you capture every single possibility?
Agents who have over-appraised typically have lots of properties on their books because they know some will sell (eventually). This is what we call “buying the listing”. Will that be yours? It doesn’t really matter to them as the fact that a percentage will sell has already been factored into the calculations.
You can fully expect significant drop off in interest/effort once you have signed the listing agreement or if your property fails to sell in the auction campaign. Why? This is because they need to focus on getting more listings and the focus of open homes is likely be to meet potential vendors (hopefully more realistic than you).
Smart innovative agents will position themselves as ‘competition creators’ rather than mere ‘property valuers’. You will want to see them as marketing experts whom you hire to run truly innovative campaigns and maximise your sale price when it comes time to sell your home.