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Posts by Neil Jenman:
Early this week we discovered that comedian Dave Hughes was the mystery buyer behind the winners of The Block. But, he has now admitted that he would have paid more!
“You can’t sell a secret you know.” This is a line given by thousands of agents to thousands of home-sellers in order to persuade sellers to splash out more and more money advertising their homes. The theory goes like that the more places you advertise your home, the more buyers you reach.
Opening your home for public inspection is one of the worst mistakes you can make. It is always a financial mistake, but it can also be your worst emotional mistake.
“Well. Who’s paying for the ads then” I asked, “Tell me, will you?!” He leaned across the table and gave me the cheekiest smile and said, “The vendors.”
There is one excellent way to know what your home is truly worth: Before you call an agent, call a valuer.
Price Ranges are ‘Bait’ strategies which use a false low price to attract buyers. The Price Range method comes in a variety of names – By Negotiation; Offers Above; Price Guide. They are all similar and they all undersell your home.
Home-sellers are being duped into spending millions of dollars on unnecessary real estate advertising through a system known as Vendor Pays Advertising, (VPA).
Always interview at least two agents. (The only exception is if one agent is highly recommended by people whose opinion you respect).
A common question that budding home-sellers ask agents is: “How much do you charge?”