It’s possible that you have put a property on the market, and you are not getting enough buyers for it. This is the point where you feel frustrated. You want to know what’s wrong with it. You are done with great marketing of your listing. But still, no luck in getting good offers from buyers, or maybe you are at the point where you are not getting any offer at all. At this point, you need to sit and ponder.
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Is the seller asking a reasonable price for his property? You may be unable to make a commission on the sale of a property because it’s overpriced.
Buyers may check listings on apna-makaan.com, but they switch to another property when they evaluate its market worth.
Let’s understand the pricing philosophy of the real estate world.
When you find a customer who wants to sell his home, you want to win his attention. You make promises. It’s normal to tell him that whatever he is asking, you can provide him. That’s a point where you lose more.
A home seller always wants to sell his home at a high price. If home’s worth is 50 lac, he will say you can bring a customer of 60 lacs; then, he will pay you more commissions. These things are quite common in the real estate market.
However, if you want to avoid frustration involved in a real estate deal, you will have to stop being a seller’s pleaser.
Be honest from the start or at-least ask him to ask a reasonable price.
A home seller hires you because he wants to get a fair price for his home. You can fulfill the price of a reasonable price for sure. But don’t fake false promises. Here is why you must have to set a right-price of property listing at the start.
You put the property in the market, and it doesn’t sell because it’s the price is high. When the seller asks for too much, you have to tell him that if he doesn’t drop down the price, then the property won’t sell. In case you don’t tell him, then you will receive his call every other day. He will ask you why you didn’t bring a buyer for him. When are you going to keep your promise of selling his property at the best price?
When you fail to bring a client for his home, he will not only hire another agent but also bad mouth about your services. So, it’s how your reputation gets affected when you don’t set a reasonable price from the start.
The purpose of putting a property for sale on Apna-makaan.com and other sites is to generate some commission from it. When the property’s price is too much for buyer, you are the only part who loses the most. You make all the marketing efforts to sell the home, but it doesn’t sell fast due to overpricing, which has damaging effects.
Seller moves to another agent, and you earn nothing after months of effort and hard work. Do you want that? I know the answer is no. So, it’s good to set the home price right from the very start; it’s the way of making a profit from it.
When a property is listed at a high price, it will stay there for a long time. No buyer will show interest in it as they know what exactly its worth is. Days pass by and even months; the seller will get frustrated, and his regular calls will increase your stress level. Your focus will divert often, and you would try to sell the home by all possible means. Know how stress decrease workplace productivity.
However, it won’t go anywhere, and your emphasis on work reduces. You won’t be able to promote other properties well. Instead of facing all those problems, you should try to deal with them at the very start when the seller comes to you, and you give him an honest opinion about the pricing.
When a real estate agent doesn’t get a buyer for a property, it doesn’t mean that the market is saturated or the promotional tactics of agents aren’t working. Sometimes, it’s the price. If your home is worthy, then people will like to invest in it. An agent should be very honest with the home seller; instead of pleasing him with the false promise of big-ticket sales, he should tell him what he can bring for him based on the current market’s condition. As an agent, you make no profit from an overpriced home, so it’s better to inform your seller about the exact situation.