Apartment Specialists Podcast No: 11
In this version of my podcast, I will discuss the common mindset of buyers when choosing a real estate agent and what they expect from them. I’ll go in-depth in this podcast.
Agent Murray, Apartment Specialists, number eight. Now today we’re going to be putting our buyer’s hat on and we’re going to think like a buyer. So if you’re an owner and you’re choosing an agent, you’re going to be thinking “Okay, this agent is actually going to be selling my property. So they need to know what they’re talking about”.
Now, I see too many agents come in and call themselves apartment specialists. They come into buildings where they don’t know actually what’s going on. When you put your buyer’s hat on – do you think if you walk up to an agent who’s selling an apartment and you’re asking them questions, and they can’t answer them, or the answers they give are clearly vague or they turn out to be wrong, this raises alarm bells?
Buyers, especially when dealing with real estate agents – since we’re one step above car sales men apparently are looking for these alarm bells. They’re in-tune to them. So What happens is when a buyer sees alarm bells, or feels uncomfortable, or feels that the agent isn’t giving him the confidence that this is going to be a good purchase, they run or reduce the price. So make sure that the agent that’s representing you knows your building inside out – knows the history, because the biggest thing an agent – the most important thing an agent needs to do is take away the fear and give a buyer confidence. Because once they do that, all you’re left with is the price.
Does your agent know your building? Give them a test. So in the mail you’ll get sent the body corporate minutes. Most of the time, most owners – to be honest – don’t read them. But find them in your e-mail, find them in the mail or where you keep them and ask them a few questions. Give them a bit of a test and see if they pass. That’s a really good way of telling if they really know your building. I hope this helps because this makes a huge difference when selling.
I’ll see you next time. Cheers!