In this post, Martha MacLaurin-Wood and Belinda discuss the typical fears for selling this COVID environment.
I think the main fear is health and safety. What if somebody who’s sick comes into my home, they’re afraid of opening the door and putting themselves and their family at risk. So we have been listening to what the government says in terms of rules. As of today, you can have two people in a home but it’s changing, it was only an inspection one on one basis. One of the things that we do is of course, before we book those appointments, we just double check:
- “How are you feeling?”
- “Have you been in contact with anyone with COVID-19?”
- “Have you travelled”
- “Is there anything that you need to tell us about you, your situation?” etc,
Then we follow that up by hand sanitiser on arrival, gloves etc. As an agent, we would already have opened up the house, propped open all the doors, turned on all the lights. We do that using the sanitising wipes, so that we’re not contaminating the property. We ask buyers as they come through, please don’t touch anything, please try and keep your hands off. Everybody is very understanding. If somebody wants to open a drawer or a door or a cabinet or a wardrobe, of course we allow them to, but we also make a note to make sure to wipe down that surface on our way up, just to make sure.
Probably the biggest fear is What if I can’t get the money that I need to move forward? What if I can’t achieve the price I need to move forward? Well, even if it wasn’t in these COVID-19 times, that is always a fear that my vendors have. The way I reassure vendors is to talk to them about how we came up with the price that we’re listing the property for sale. I have basically three different types of prices that I run through. The first one is the cost price. That’s when you’ve got a vendor or a homeowner who says, I bought the house for X amount of dollars, added a kitchen and I’ve landscaped at the cost of Y. My mortgage is Z and they add up all those figures and they come to a bottom line price. That’s their cost price they need to achieve to move forward. The way I overcome that is to explain that people don’t buy property based on how much you paid for the home. People buy property based on how much they perceive it is worth.
The second type of pricing perception that I come up against is when they’ve had other agents through your home and a lot of agents are prone to telling you what you want to hear, rather than what the reality is in the market. And that, in our industry, is called “buying a listing”, they’re telling you your dream price, they’re telling you the over the top price, that if somebody gets carried away with their emotions, they’re going to put their hand up at auction 10 times and they’re going to buy that house. It’s really important to realise agents don’t control the price you can sell your home for because the agents are not the person buying your home. The only people buying your home are the buyers. They work in competition with all the other buyers that are looking for homes at the time that are similar to yours. So you can’t sell your house in isolation of what’s going on in the market.
I am very much a big believer in educating my vendors about what the market price of your home is. This is when I look at homes within two kilometres of yours with similar features in terms of the numbers of bedrooms, the numbers of bathrooms, garaging level on views, outlook, and also the finish, have you updated it? Is it an original condition? Do you need a new carpet or new paint? I talk to them in particular about how your property compares to those. It’s in a very short timeframe to within the last two, three months. We come up with a price that way because that is closest to what buyers are going to be seeing and what buyers know or is happening in the market.
Today’s blog is a nugget from last week’s Right Size Your Home Online Workshop. Every Friday at 10:00am, join me as I take you through the “Rightsize Your Home” framework to help and support you move through the process effectively and efficiently with a practical, step-by-step roadmap on how to overcome the fears and challenges of Rightsizing and plan to make the journey a fun, stress-free and profitable process..
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With over a decade of experience as a Property Makeover and Change Specialist, I have spent many years helping transform homes and lives. My experience in helping those looking to Downsize has led me to write my first book – Rightsize Your Home – The Empty Nester’s Guide to a Stress-Free Downsize, available to download or in hardcover.
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