Posted on 28/08/2017 by Todd Pearce
Many homes sell quickly without a hitch while others seem to attract more than their share of problems.
One of the most difficult situations for vendors to deal with the Loss of their purchaser. By the time vendors realise their sale is not proceeding they will have already spent money with their solicitor and in many cases soil have undertaken the purchase of another property with its associated costs - loan applications, pest and building reports and so on.
It is rarely just "bad luck” when a sale fall through. A professional and experienced agent will handle the marketing and negotiations in such a way as to minimise the risk factors.. Less professional agents are not so careful or diligent.
A good real estate agent should make sure a vendor is totally informed about a purchasers buying status.
Many agents ask for offers from people who are not in a position to proceed – for example they have not yet sold their own home, or they haven’t had their finance approved. If the home the purchase is dependent upon doesn’t sell, or the finance doesn't eventuate, purchasers inevitably get cold feet as the exchange date gets nearer. A common misconception is that an agent using “hard sell” techniques soil get the sale through faster.
“Hard sell” is a short term fix which sometimes works to achieve on the spot commitment. Purchases who are sick of hunting for their dream home are vulnerable to pressure and sometimes end up making an offer on a house they’re not 100% sold on. On the whole though, reluctant purchases pull out when they've had time to reflect."
More professional agents have both the ethics and the expertise so that vendor’s don’t end up on a wild goose chase with unqualified purchasers.
If you're not confident your agent is telling you everything you need to know, make sure you ask for feedback after every inspection. Once someone is ready to make an offer, you need to know whether they are in a position to put their money where their mouth is.