We had a vendor call us to appraise her home after it had been on the market for six months. The highest offer the agent had brought to her was $580,000.
Naturally, before arriving at the property, we thought it must be the price, especially in a softening market. However, when we inspected the property, we started scratching our heads. We thought: I don't know why this property hasn't sold.
What we changed
We then looked at the current marketing and copywriting. We advised the owner that we wouldn't adjust the pricing. We would relist at $600,000 to $620,000, but we would retake the photos, create new copywriting for the ad and commence paid social media marketing.
She moved the listing over to us, and our ad went live along with the social media advertising. Within one week we had her property sold at $640,000, $20,000 above the advertised guide, with multiple inspections and offers.
What it taught us
We truly believe the agent you choose can have a huge bearing on your outcome. Presentation, marketing and price all play a part, but so too does the agent's negotiation. In a tough market, your agent needs to understand how to negotiate for you to achieve the best price possible.
The property: 1/38 William Avenue, Warilla.
