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Lets Get Real Without The Undersell

Let's Get Real Without The Undersell.

Posted 11 September 2019

Selling your home can be a complicated, often daunting process. 

Finding the right property along with the negotiation involved and the too-ing and fro-ing between agent and seller can create angst. With the perception of difficulty at hand, it's no wonder 97% of Australia enlist an agent to help. Whether you've lived in your home for a month or 10 years, part of your identity is often aligned with a home purchase, moulded within that private space. 


Passing your home onto someone else is almost like giving your diary to a stranger, inviting them to carry on where you left off. Your home is important, and it should be important to your agent too. We put a lot of responsibility into the hands of real estate agents, and yet how much do we trust them? 


According to statistics, not a lot. A survey conducted by Kelton Global found that only 11% of people considered real estate agents trustworthy. A shame when you consider the number of excellent agents out there trying to do the right thing. 

Why is this so alarming? 


It all springs forth from a couple of words we hold dear on our team- transparency and integrity. 


Human nature relies on integrity. Our society is built on honesty and would crumble if the people enlisted to help, only helped themselves. Transactions, especially when buying and selling houses, when finances are at stake, need to be honest and fair. 


For the sake of social cohesion, we need honesty so that we can rely on others to accomplish the tasks we can't do ourselves. It is no small thing. 


With the market as temperamental as ever, trust in the people navigating this market and selling our homes is imperative. 

So what sort of scenarios are being reported and complained about? An unfortunate scenario that occurs far too regularly is the undersell. Case: A potential buyer tries to call the real estate agent to organise an inspection. The agent in charge has someone nearly over the line, so doesn't bother responding to messages or is slow to respond. 


The property has been on the market for a long time, and the agent agenda -it just needs to be sold. They don't tell the owner and convince them to take the lower price to save the hassle. Any new contenders at this point will only make things complicated for the agent. 


The reality? 

The new potential purchaser is keen and is willing to pay far more than the listed price. 

The outcome? 

The owner doesn't know this and has lost out. The new enquiry party doesn't know and misses out on the property. 

The winner? 

The real estate agent and the buyer for possibly getting the property for below value price. The agent has taken a small hit to get the sale over the line.

How can this be avoided? 


The owner and the real estate agent have shared control. The owner sells their property while the real estate agents are screened and in alignment with a transparent model of selling using a shared algorithm. 

Next Address provides Australia's first online property marketplace that uses a 'SmartMatch' system to match and connect buyers and sellers directly. 


Our founder Julie O'Donohue, based the entire Next Address ethos on transparency. 


"Transparency is the scaffolding for all integrity; it isn't just a thought or concept- 

it is the driving force for our purpose, right down to the algorithm we use." 


To get into contact with a real estate service that genuinely cares about your home, call 1800 316 611 or email contact@nextaddress.com.au. 


Sources https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics https://www.businesswire.com/news/home/20180918005181/en/Era-Eroding-Trust-National-Study-Reveals-Occupations 

https://nextaddress.com.au https://www.thecourier.com.au/story/5969960/how-this-ballarat-business-is-disrupting-re al-estate-as-we-know-it/ 

https://www.nar.realtor/research-and-statistics/quick-real-estate-statistics https://www.businesswire.com/news/home/20180918005181/en/Era-Eroding-Trust-Nati onal-Study-Reveals-Occupations https://nextaddress.com.au https://www.thecourier.com.au/story/5969960/how-this-ballarat-business-is-disrupting-re al-estate-as-we-know-it/ 


 

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