What’s involved in closing a sale?
Mr Pignataro believes that the most important element involved in closing a sale is an agent’s solid understanding of what they’re selling.
“If they don't understand or don't believe in what they're selling, it's difficult to sell to someone else,” he told REB.
Mr Pignataro emphasises that it’s also imperative to manage clients’ expectations around the sale of their property.
“We do some more research and we prepare a fact sheet for buyers which tells them a little bit about the property and the size of the land.
“It also tells them what's sold, so that's where the price guide's going to be.
“We get the lowest range and the highest range and we give them comparable sales, so that they are not disappointed.”
Mr Pignataro says highlighting where the value lies in a property is “the first thing you need to establish” with potential buyers.
“If you see value in what you're selling, it's easy to sell the value of that property to someone that wants to buy it, and you'll be able to present it in that fashion.”
He also says that in closing a sale, agents can inspire confidence in their clients by having the ability to “answer all questions on site”.
“It's important that both the vendor and the purchaser have an agent that's well informed and can answer their questions instantaneously.”
Buyers are the best source of market information
Mr Pignataro explains that the key to being able to answer clients’ questions “on site” is to keep abreast of what’s happening in the market by listening to buyers.
“It's important for an agent to know what's on the market, what's coming on the market, and what the buyers are saying,” he says.
“At the end of the day, the buyer is the source of the information.”
He explains that the best way to find out what potential buyers think is by engaging with them at open homes.
“They're telling you what the agent's quoting, how it compares, and what their thoughts are,” he explains.
“You should be able to absorb that and give it back to your vendors as feedback.”
“And don't forget, the people that are coming to look at a house are buyers or vendors. Potentially one of them are going to sell eventually,” he adds.
“If they're impressed with your work, they're going to come back to you and ask that second question.”
Keep connected to potential buyers
Mr Pignataro says that he maintains a continuous dialogue with people he meets at open houses who are interested in selling or buying in the future.
Once they have been added to his agency’s database, Mr Pignataro sends weekly emails including new stock, but not only what the potential buyers have expressed an interest in.
“I think it's important that a buyer also knows what else is out there. Because once they've bought their family home, the next thing is an investment,” he says.
He thus adds to his weekly emails stock from surrounding suburbs and similar properties for potential purchases.
To see who else made the Top 100 Agents 2016 ranking, click here.
Quick facts - Robert Pignataro:
- 2016 REB Top 100 Agents ranking: 33
- Company: Strathfield Partners
- Sales volume: $340,242,289
- Average sales price: $793,106
- Position: Managing director
- Suburb: Strathfield
- Years’ experience: 29
- Support staff size: 2