There’s a lot of fuss going on about this new method of selling Real Estate called Purplebricks, that has hit the East Coast, and how it will save consumers thousands in commissions.
They are basing their projection of success on the fact that nobody here likes Real Estate Agents. Well that is probably true, and some I agree are not that likeable, but generally it’s because most people don’t really understand what we do. They cannot justify our fees in their own mind, but let me explain something. Very few Agents are in fact successful and when they are, they have certainly earned their stripes, because it certainly doesn’t happen overnight. It takes years of knowledge, trust, understanding, sincerity and strength to win a seller and buyer’s trust and confidence to get a great result. Anybody can get a bad result.
Now, because I’m a buyer and keeper of things and rarely sell, I had not had the experience of trying to choose a Real Estate Agent until this week when I decided to sell my investment property in Rockingham. Interesting I thought – what do I really want in my Real Estate Agent? What is going to make the difference in the result I get? Well, after a bit of thought it came down to two things.
Firstly, I wanted my Agent to really care about how the home looked when it was being viewed. I wanted to know that they would be there early to turn on the heating, open the blinds, put on the music and really inject some atmosphere into the home so that everybody would love it when they walked in. This is so darn important in making the difference in whether a buyer buys or walks away.
Secondly, what I needed was a gutsy negotiator – not someone wimpy that would be bossed around, but someone who could really stand their ground and properly represent me, the seller, right through the negotiation process, by properly explaining the procedure and being completely transparent throughout the negotiation process with both parties.
So, the value of a Real Estate Agent is their knowledge, experience, advice and ability to read their buyers and sellers and understand the thought processes that are going on with both parties. It’s not something that can be done through automated systems, untrained and inexperienced representatives, or any blanket procedure that can be spat out for less expense and expected to attain the same result.
This has been proved time and time again by the quick death of virtually all cheap and cheery “do it yourself” recipes for selling homes and for those who are attracted to this cheaper option – be warned that it will probably cost you a bundle in lost revenue. It has been tried before and has failed.
They may have Purplebricks, but it’s no Purple Cow.