Winning with a Building and Pest report Being transparent is a marketing, pricing and vendor management tool all in one. Transparency communicates honesty and positions clients to trust you. An owner bringing their property to market, loves their property. A potential purchaser may be excited by the property but concerned that it may have secrets. Your job as an agent is to bring both parties to the truth - to arrive at a figure that allows a sale. There is one decisive action that you can take to win the owner’s business and to help secure the eventual sale. I strongly suggest that at a listing presentation you say, “For a powerful marketing gesture, I suggest that we, as the selling company and owner, come together and do a full building and pest report on the property.” Organising a building and pest report has a useful effect on vendors and it also telegraphs an important message to buyers. If a report is completed before going to market, the owner will have an independent, third-party perspective on their property. Handing them the report grounds them - they will see that their beloved home has challenges. Many sales fall apart at the very last moment because a buyer discovers problems with a property that leads them to then attack the asking price. A buyer can be full of fear and anxiety. If a buyer likes a property, and then does their own report and finds out that there are cracked tiles on the roof or a lack of sub-floor ventilation – they may feel hoodwinked or deceived. They’ll demand $10- 30,000K off the purchase price, purely out of fear and anxiety. However, if you mix up the play and when you are getting close to an offer, hand a buyer a building and pest report, it will have a calming effect and avoid the dance on price reduction. It is so powerful, as the agent, to say, “Prior to us putting the property on the market, we had the owner conduct a full building and pest report to assist us in the pricing process. I’d like you to have a copy of it. Read through it and that way you’re completely up to speed with what we’ve priced with this property. This report is a list of defects.” The buyer will be blown away by your transparency and their fears will be allayed. They won’t be able to say that they’ve discovered what’s wrong so their platform for negotiation will disappear. Strengthen your offering and guide the owner to having a security policy against massive attacks on price that can lose the sale. Encourage them to provide a building and pest report.
Posted on: Mon, 29 Sep 2014 01:30:07 +0000
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