SELLERS: Fixed Price Property Sales – EXPLAINED.
As an agent it sends cold shivers down my spine when I hear Client say that they watched a property show on TV recently where the client negotiated €50,000 off the sale price of the property. What many people do not realise is that what they see on the TV it’s not always 100% what actually happens.
We have filmed several property TV shows, and they are in the business of producing entertaining television and not factual television, and often the show is edited in a way That what comes across on TV is not what actually happened when the clients were here.
The second thing you need to be aware of when watching the shows is the very end credits. One of the very last thing is to be shown as the credits role will be the date the program was filmed, and it may well be that the show is 10 years old and was filmed in the height of the property crisis.
© Ch8 TV. MMVIII
As an agent when we value properties we do not pull a figure out of the air, the valuation is done taking many many factors into consideration and this is something that is only learned with experience and a deeply profound knowledge and expertise in the specific area.
As an agent I do not build any negotiating room into the price. I fully understand that the selling of properties is actually nothing to do with sales and more to do with marketing. The crude analogy is bums on seats, meaning the more people come to look at properties the more chance there is of somebody buying one. Therefore it is counter-productive to over inflate the price of the property when we can list it much closer to its realistic selling price and consequently have more people coming to view it.
We also realise that when buyers are investigating properties whether this is on my website or on the property portals such as Rightmove overseas, Zoopla, or any of the many other portals they search in price brackets after 25,000 or €50,000. We often explain to clients that there is no point in listing a property at €205,000 when it will be seen by many more clients if they list at €200,000 or even €199,950, and this is where fixed-price properties become more prevalent.
We recently undertook a valuation of a property where the owner wanted us to list the property for 160,000 however he will be willing to accept €150,000. I explained to the client that if we listed the property at €150,000 fixed price it will be seen by many more clients. This proved to be the case as the property sold within a week of being listed.
At the moment on our website we have three 2 bed two bath identical villas both with pools and all listed at a fixed price of €139,950.
The villas have all the documentation in order, And are being sold fully furnished and at this low price point there is very little room for negotiation. We explain to any client wishing to view the property that the price is fixed and there is no no room for negotiation. The fixed price is made very clear on our website and all of our publicity material, our portal advertisements as well as being explain to the clients prior to viewing. New
This makes it simple and clear for everybody involved. In essence the negotiation has already been done, Only it was done by the agent and not the buyer.
The buyer is still getting an excellent deal as they are buying the property at the lowest price that the vendor would have considered, and the vendor is getting a price that they are happy with as well. everybody wins.