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00:10 Darin Butcher: Hi, I'm Darin Butcher from Wiseberry Heritage Real Estate and a
commonly asked question is: What is a 33 day sale?
I know this is going to educate the public, but I also know the agents also are gonna
be educated by it, and that's a great thing.
33 Day Sale is something designed by myself, but it was actually used off a method that
was called Set Sale from David Pilling down in...
I went down to Melbourne, around about 20 years ago, to prove his price ranging wrong.
Price ranging is where there's two prices on the property and I thought it was unethical,
it was misleading, it was not gonna get the right result, all those things that all the
agents talk about.
But there again, for the last 19-20 years we've been using it.
And that's funny, for all those baggers that are out there, all of them now offer you that
service because it is such a good service.
00:54 DB: Understand that experience in that system is very, very important for a 33 day
sale, 'cause you're gonna put a price guide on the property, and the idea is that buyers
look for a bargain price, there's a market price, and then there's a dream price.
And every owner wants a dream price, every buyer wants a bargain price.
Let's introduce them to the property, let's talk price secondary, but let's get them to
see the property and what it's worth.
How do they know you've got the pool out the back or the granny flat?
How do they know your block is 600 or 700 or 800 meters squared?
They don't know these things.
They're important facts that they need to learn about the property, but you can't sell
the sausage without the sizzle.
Let's get them to look have a look at the property, let's get them to see the important
points about the property, and let's talk price and circumstances secondary.
01:32 DB: Now, circumstances are very important in real estate, so I wanna teach you that
first.
And the idea is that if somebody's interested in a property, they might want it in a four
week settlement and six weeks might suit you, so they should have to pay a different price
to if they'd suited your circumstances.
Now a classic example on a user that's over the top, but if I was to offer you another
a $500,000 for your property, but ask you to wait another 10 years for that, would you
do it?
Now I know it's far-fetched and some people will say, "Yes," and some people will say,
"No," but the idea behind it is this: That you've got to look at the market and go, "One
size does not fit all."
We've gotta look at the market and say, "Okay, we've got a buyer that wants a quicker sale.
We've got one that wants a slower sale.
We've got one that needs to sell a property.
We've got one that needs to get financed."
And they all should be treated differently.
Why should a cash buyer and a person that wants you to wait 12 months be playing on
the same level playing field?
Why have a fixed price?
Or why actually take it to auction where they can have only have a six week settlement,
and a 12 month person that might pay you $50,000 or $100,000 more is out of the question?
02:30 DB: I'm a licensed auctioneer and as a licensed auctioneer, I still don't advise
that that's the best method some of the times.
A 33 day sale works in all occasions for all properties.
And the beauty is that we set an appropriate price range based around the bargain, the
market price, and the dream price.
We then market the property aggressively over the 33 day period.
You can sell the property from day one and that's the advantage of the property, or you
can wait all the way to 33 days, but the idea is let's see all buyers and make them compete
against each other.
Not just the ones that have got cash today.
The best way to do that is invite everybody in.
Now, there's two ways to buy a 33 day sale.
The first one is on on a multiple offer form.
The buyers, the best way they can do it, is the sooner they actually get to the property,
the sooner they actually look at it, the better they can get a property without the more competition.
From our point of view, it's from an owner's perspective, they can get a buyer in the door
that is emotional about the property and will connect with price at a lot higher if they
get in there early and they wanna be the competition.
It's a win-win for both parties.
The idea is though they can come in, put down their highest and best price on a form, they
can tell us their circumstances or situation, or if they're flexible to suit you then we
work around it for you.
It's a great situation.
03:37 DB: Now also, there's a second way to buy a 33 day sale and that's called registration
of interest.
You tick a registration of interest form and say, "I would like to hear if a deal is going
to happen on this property."
Now, why would a buyer register an interest?
And it's quite simple.
A buyer would register interest for this exact reason.
They would actually see that they might have circumstances that happen.
They might need to sell a property, they might need to look at more properties, they might
need to show family and friends, they might need finance bridging finance, they might
need to do pest reports, building reports, valuations.
There's many show stoppers that stop a person saying yes on the spot.
What I'd like to do is make sure that we know that we've got every cent out of them as well
as cashed up buyers when we're negotiating.
04:16 DB: When a buyer makes a offer that an owner's willing to accept, we go back to
the registered interest and give them an opportunity to still secure the property.
We don't disclose price.
We would never do that and give you an unfair advantage on your competition, nor would we
do it back the opposite way.
But what we do do is tell them that there is looking like there's going to be a deal
and we're asking them to put their best price forward.
From an owner's perspective, it's quite simple: You're getting to see 100% of the market and
100% of the people that have potential to love your property.
Not just like an auction, unless you're ready with 10% and six weeks settlement, that you're
the only one that's able to negotiate on auction day.
04:49 DB: It's just a different way of doing things.
Realestate.com did a seminar going back a back a few years ago and they said 66% of
buyers on the coast, and it was called Click the Seller Seminar.
66% of buyers actually will not negotiate with a property without a price, without a
guide.
Now, I'm just trying to give you a bit of an idea, but I don't lose two thirds of your
buyers.
I don't know what your thoughts are, but I'm Darin Butcher from Wiseberry Heritage Real
Estate.
I hope this tells you a little bit more about 33 day sales and I look forward to explaining
a little bit further in your living room in the not-too-distant distant future.
I'm Darin Butcher, signing out.
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