October 3, 2018

Selling Property in a Tough Real Estate Market

by Neil Jenman

Real estate agents take note: Face facts. Face reality. When you work in real estate, you MUST MAKE SALES. Especially in a tough market.

You’ve probably got enough stock that, if you sold it all, you’d go from poor to rich instantly.

So WHY aren’t you selling it all? Because the market has fallen well below your listed prices, that’s why! It’s simple: your unsold properties are massively over-priced in today’s market.

Never mind what happened yesterday; you’re not selling yesterday, you’re selling today so therefore the only market that applies to you is today’s market.

Gone are the days when the incompetency or deception of agents who over-priced houses was hidden as the market rose as fast as the agents’ lies.

In those days – barely a year ago – agents who should have been denounced as liars or fools looked like heroes as the market rose to meet and smother their lies.

Today, it’s the opposite: many agents are still telling lies in the hope that the market will do what it’s done for many years.

But the market is different now. It’s falling and faster than most agents and their clients realise. Consequently, many agents are in danger of going broke as many homes fail to sell.

Face the facts: tell your sellers to SELL NOW for the highest price they can get.

I can almost guarantee you one thing: whatever price they are offered today is a price they may never see again for many years.

As for those sellers who just say: “We’ll wait for our price,” oh really!?

And how long do you plan to wait?

History shows that when property markets fall in Australia it takes between six and 21 years for them to reach their previous highs.

So, those smug sellers and those hopeful agents might be waiting at least six years and as long as 21 years. That’s insane.

With talk of house prices falling as much as 60% and with claims by some experts that we’re headed for the worst economic downturn since the depression of 1892, it seems like it’s time for sellers who really want to sell in the next ten or more years to follow an old piece of real estate advice: “Grab as much money as you can and run!”

And their agents need to tell them what I’ve just told you. Face facts. Face reality.

Now, do it and make some sales! Okay? And make your clients happy.

Here’s the bottom line, agents: Your sellers want to sell. So get them the best price no matter what the market. That’s the best you can do.

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