The Value Add of a Realtor

The Value Add of a Realtor

Category Bugle Newspaper Article

Can you sell property using social media? An interesting article published on Inman - an online news and information platform for the real estate industry - described how Justin Bieber attempted this using his 120 million followers on Instagram in a late-night spree of posts last Friday. Having recently acquired a US$8,5m home in Beverley Hills, California he seemed ready to sell on a whim, He decided to post more than dozen images of his 600 sqm home called "The Tropics", having only bought the property in March this year after getting married to model Hailey Baldwin. He seemed to do this without her input - always a terrible idea, as we all know who the real decision-makers are when a couple buys or sells a home. No doubt his followers would have been fascinated to see the images of the beautiful home - looks similar to many of our Zimbali residences. I was amazed that each post typically received over one million likes and sometimes around 20,000 engagements or comments. This is astounding and gives you some insight into his influence over a segment of the population. His posts included images of banana-leaf-print wallpaper, a modern wine cellar, skateboard decks fitted to the wall as you walk up the stairs, a hanging chair with Ogie-like wooden flooring and a giant wall hung image of the newlyweds. Bieber's social media posts generated a lot of interest on Instagram but no serious offers on the property. There was one intelligent response however that suggested he "Get a Realtor, my guy". Thank you! Even with millions of likes and thousands and engagements, it takes more than a few posts to sell a property. This is true for most property transactions but especially true as you move up the price spectrum. So what value can a "Realtor guy or girl" add to the property buying and selling process? Well actually quite a lot and here are some of the key value adds:

1. Professional advice on pricing. An over-priced home will languish on the market and get stale, only in most cases to sell well below market value. The idea that a seller can always reduce the price but never increase has an element of truth but unless a home is priced within the strike zone at which the market, in general, will respond you are wasting your time and certainly the agent's time as well. Get your pricing right or don't list the property for sale.
2. Professional advice on presentation. You only get one chance to make a first impression. Most homes need de-cluttering, re-painting, deep-cleaning and fixing all the obvious eye-catching faults.
3. Professional negotiating skills. The listing agent is representing the seller and should be looking to ensure the best price possible is achieved within the given market conditions and the state of the property. The agent, therefore, is negotiating on behalf of the seller and this is where experience pays off. The difference in the final result for the seller can be substantial. A smart experienced agent is like gold to a seller.
4. Facilitation of the transaction. Property transactions can be complex and have many important aspects that need careful attention and co-ordination. Aggressive and demanding contracting parties can be like oil and water and in many cases, it is a professional estate agent that keeps it all on track.

Author: Andreas Wassenaar