Selling Tips

Selling your home can be a very overwhelming prospect. However, choosing the right agent can make it an exciting and rewarding journey. Merchants will be there for you right through out the selling process.

Generally the most effective method of sale in the current market is “For Sale by Negotiation”. This is the method most purchasers feel comfortable with, and will attract the widest range of buyers. Because they know what the price expectations of the Vendor are, they are able to satisfy themselves that that price represents value to them, and arranging finance (if necessary) is much easier than at auction.

From a vendor’s view point it allows a sale to be negotiated with less chance of a buyer 'going cold' and avoids the stigma of the property being passed in after the normal auction program, which can have an adverse effect on price.

For transactions which require the campaign to cater for a very broad buyer base, one should consider the merits of using a “For Sale by Expressions of Interest” Campaign. This allows the market to freely communicate its views on price, and other terms and conditions required with the Agent and the Vendor. It generates dialogue by which a competent Agent can manufacture into a mutually satisfactory agreement for sale.


Setting and advertising the price of your home

Setting the asking price for your home is one of the most important decisions in the campaign. Merchants strongly believe it is our responsibility as your agent to give you a professional opinion on the price range your property is most likely, but not restricted to sell in. Using our knowledge of the market, in conjunction with accurate and comparable market sales to support this advice, we can then offer you all the information required to make an informed judgement.

The price prospective purchasers will be prepared to pay for any property will often vary according to their financial circumstances, and a host of other reasons. 20 years of experience tells us that it is not in the Vendor’s best interest to set a fixed price, which can only be negotiated downwards, but to indicate a price range that allows you the best chance of getting what we refer an 'emotional premium', without overpricing the property.


Buyer Competition

In any market, sale price is reflected by demand. The best way to optomise a property’s sale price is to choose a marketing campaign that will get the property noticed by the maximum number of buyers current in the market. With appropriate pricing, Merchants can apply their negotiating skills and ethics to ensure that we capture the optimum levels of emotional energy, directed towards acquiring your property.

Having set a price in this manner and applying buyer competition you retain control over the selling process, selling on your terms.  Relying on buyer 'feed back'  to set a price is risky. Many buyers will be less than frank when asked about price because it is in their interest to talk the price down, or they have no realistic knowledge of the market, or they may not be genuinely interested.

The claim that not advertising a price creates more interest and more worthwhile inspections, is difficult to comprehend, even though it is often used to "sell" auction campaigns. Price is the greatest electrifier of interest, and if none is advertised many buyers will just walk on by - their time is precious and they need to make choices about what to inspect. Price is one of the first criteria to be judged when searching for a home or investment. Applying a price range is the perfect “hybrid” method of sale.


Negotiations

We have the experience to obtain the best possible price for you during the negotiating process. It is our policy to only submit offers that are in writing, so that you know all offers are the basis of a binding contract (subject to 5 day cooling off period) and not merely 'fishing trips'.