Getting a high clearance rate is a priority for many real estate agents in Australia, but getting it to a point where you’re happy is easier said than done. So, what’s the trick that the country’s most successful agents are keeping secret?
Sadly, there isn’t a secret. However, in tough market conditions where a vendor might have to accept a lower price than they would have liked, it all boils down to one thing — trust.
And this trust can be built by honest, frequent communication.
When auction day rolls around, if your buyers know that you’ve done everything within your power to get the highest price possible, they’ll be much more likely to sell their property instead of quit and head back to the drawing board.
To achieve this success, however, you need to get your campaign on the right track not 2 months down the line, but right from the very start.
How Can You Get a Campaign off to a Good Start?
Once you break it down into steps, it’s simple. Here’s what you need to do:
1) Work out the main point of contact
Who is your client’s preferred point and method of contact?
2) Communication and vendor reports
You need to let your client know how often they’ll hear from you, as well as when they can expect to receive any key vendor reports. With iDashboard, you can provide them with their own unique Vendor Report URL, so they can access their Open Home & Private Inspection feedback 24/7, at their own convenience.
3) Marketing and open houses
Sit down and discuss how their property will be marketed, as well as any open house events that you’d like to book in. If possible, take dates that your client will be able to vacate their property for these to take place.
4) How you’ll manage buyers
You need to let your client know how you’ll be managing buyers. Will you be presenting offers straight away, or waiting for several to come in before getting back to any of them?
5) Why they’re selling
In case the buyer asks why they’re selling, you need to have an answer to give them. If you don’t, it can leave the prospective buyer feeling uneasy and lead them to believe your client is moving for negative reasons.
6) Discuss your levels of feedback
Typically, it’s best to start with a framework of three feedback levels. These should cover buyers that are interested, qualified buyers that aren’t interested, and neighbours and friends.
7) How offers are handled
It’s not unheard of for a client’s first offer to be their best, but you need to figure out and let them know how you’ll handle this.
8) Price adjustments
Inform your client about the potential need for price adjustments, as early as week 1 if feedback dictates a need for it.
9) Your auction strategy
If a client is considering auction as a method of sale, you need to discuss what the strategy is going to be. Leaving this to the last minute can be messy.
10) Answer any questions
If your client has any questions, now is the time to answer them. This will leave your relationship with a benchmark of honesty and openness that’ll lave them with greater confidence in you as an agent.
Taking the time to have this meeting with a client a couple of days before you take their property to market with keep everything above board, let them know what to expect, and give them an idea of the bigger picture. You need to walk them through the process, and by investing roughly 30 minutes of your time for this at the start, you’ll save hours of phone calls and meetings further down the line.