Break convention to halve DOM: top agents

Break convention to halve DOM: top agents

07 August 2014 by Elyse Perrau 0 comments

Two of Real Estate Business’ Top 100 Agents have divulged their secrets to achieving outstanding results in the category for shortest days on market. 

Both ranking in the top 10 of Real Estate BusinessTop 100 Agents, McGrath Estate Agents Peter Chauncy and Piers van Hamburg achieved outstanding results in the category for shortest days on the market.

Both averaged 15 days to sell a property, less than half the average Top 100 Agent profile result, which was 35.9 days on the market.

McGrath Crows Nest partner and sales agent Peter Chauncy said a key strategy to his success in being able to sell quickly is he typically runs a “much shorter and condensed” marketing campaign compared to other agents.

“I think it is more common in this day and age for agents to set a normal auction date and then bring the auction date forward when there is sufficient interest in the property,” he told Real Estate Business.

“But it is maybe not so common for agents to do a shorter campaign upfront.

“I think if you have got the right relationship with the client and you have got everything set up correctly, it takes a bit of belief to do that from word go and set it up as a shorter campaign.

“But from my perspective, since we have been doing it, we have been getting great feedback, from not only our vendors, but also buyers,” he added.

Also speaking to Real Estate Business, McGrath Neutral Bay director and sales agent Piers van Hamburg said for him, it is all about trying to price the property correctly.

“What I do is really try and price it correctly initially and work out how we can overachieve on that, rather than over-promise and under-deliver,” he said.

“Since January I have done 52 sales, and 51 were at auctions; so I guess I am 98 per cent auction guy.

“Out of the 51 auctions, we have seven sold at auction, 37 sold prior to auction and seven sold post auction,” he added.

Mr van Hamberg stated that if you are going to sell property in 15 days or under, you need to sell a majority prior to auction.

Both Mr Chauncy and Mr van Hamberg agree an important factor in selling property fast is a “set-to-sell” meeting with your vendors before the first inspection to prepare them for every outcome that could occur.

“The trap that some agents fall into is they think that their owners understand as much as they understand about selling a house, and when to say yes to an offer and when not to say yes,” Mr Chauncy said.

“I think these things are better set up pre-frame before they are actually happening, and once you do that there is that extra element of trust with your client or your vendor.

“So you suddenly become their trusted adviser and not someone who is looking to make a quick sale – that is the big one,” he added. 

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