How I Leveraged the Right Method of Sale to Exceed the Vendor’s Expectations
With the sale of this very dated townhouse I completely reverse engineered the process.
The psychology of almost every house buyer, to begin with, is to want a bargain. I played on that. My goal is always to grab the buyer’s attention from the very first time they see the property advertised. So we showed them a bargain by advertising the property for sale at “offers over” the rock bottom price the vendor had agreed to accept.
The property went live on all major property portals, emailed to my buyer database and was marketed on social media for the staggering amount of $30 on Friday afternoon.
The result spoke for itself, people flocked to the property, Over the weekend I had close to 100 people through the property resulting in heaps of interest in the property.
I set a deadline for all offers to be presented by 4pm on Tuesday effectively generating competition between the buyers to secure the property.
When I sat down with the vendor’s after 4 days of marketing they were absolutely staggered when I presented them with not 1, not 2 but 18 offers for their consideration.
There is nothing more powerful than competition. Buyers will always pay more to beat another buyer than they will to please the vendor. It’s all about psychology, and deployed correctly this is the most powerful piece of knowledge of them all.
The result surprised even me, with an unconditional sale price more than $60,000 above the advertised offers over price!