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Do you encourage vendors to sell privately?

June 2019

I’m sure you could come up with a whole list of reasons why vendors should not sell their own properties. A good agent knows exactly how to convince their vendors that it is better to go through an agent rather than sell their own home. It can get really frustrating when you know that you have the wherewithal to get a better deal for that client but they still choose to sell privately.
 

Likewise, I find it quite intriguing and disappointing when a real estate agent decides to sell his or her own rent roll or real estate practice. Because this is what I have been specialising in for 10 years, and with a lifetime in the industry I know how to achieve the right result for my clients.

Then there is invariably an emotional side of things where you have an attachment to your clients or the business that has been your baby for some 20 or 30 years.

If you are going to work through a broker, one of the thing we pride ourselves on is making sure we keep the transaction as confidential as possible, for as long as we can, through the whole sales process. And that includes not giving any information out until a confidentiality agreement has been signed. Where as, as soon as you pick up the phone, even to give a slight indication that you are thinking of maybe retiring or down sizing, as soon as you open your mouth the cat is out to the bag. Then you have to decide how much information you are going to give them. So often we see private sellers giving far too much information on the business to the opposition, and then that person who was interested in buying can’t get finance or they change their mind and they have had access to all that information, that you have given them at their disposable while you are still trying to run your own business.

So, there are some very significant risks when trying to sell your own rent roll, and that is why we find it absolutely intriguing that there are agents around the country doing this day in and day out. We not only strive to get the best price in the shortest possible time but we also pride ourselves in the fact that we are very, very discrete. We work strictly by the book and we don’t let anyone else know about what you are doing or thinking about doing unless we have that signed confidentiality agreement in our hand. 

Skilled rent roll brokers are also adept in negotiating price, but it’s not just the price, sometimes the price can be the easy part, sometimes it’s the terms and conditions of the agreement which are far more important than the price itself, because in a good market, the price can be achieved without too much difficulty. So, if you are thinking of selling feel free to give me a call, I am happy to have a confidential chat and help you make the right decision for your time in the market place.

You can contact Chris Goodway on 0403 090 522 or chris@therentrollbroker.com.au

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