When a vendor or prospective seller considers selling their home or investment property, the Agent will often only discuss price as the main consideration. There are so many other issues and points of attraction that "bad" agents will fail to consider and it is at this initial stage that vendors should get proper advice on strategy to make sure they are heading in the right direction before the property hits the market.
There are so many negotiation points that the real estate agent can use to attract more buyers and subsequently achieve a higher price. By way of example, vendors should consider clauses such as :
- Longer settlements - this becomes attractive for buyers who need to sell first or can give buyers more time to get finance
- Extra inclusions - for example, throw the boat in if you live near the water or have a waterfront property
- Vendor finance - will attract more buyers that can't get a deposit or are self employed. There are a number of variations of vendor finance and different strategies will work for different situations. Advice is critical.
Whatever strategy a vendor seeks to employ it is critical that the agent and Solicitor discuss the proposed plans and that all clauses are properly drafted into the contract.
Vendors should be open minded to the fact that "price" is not always the only point when considering a sale strategy, and other variants need to be considered that will make the property more attractive to buyers.
Always seek out an experienced real estate agent that understands negotiation, not an agent that is only offering a cheap commission rate. A good negotiator, or should I say a great negotiator, is vital in any marketing and sale campaign.
If you wish to discuss your proposed sale or would like some guidance on strategy, contact the team at Carver Lawyers on 02 9773 4550 or email Dean Carver - property lawyer using the contact tab.
