Secret to success

Last week I wrote about how our team of agents support the efforts of property buyers as they navigate the challenges of a very strong market. This week I thought I would discuss the work of our team supporting vendors because despite what you might think, listing in a hot market does come with challenges. So, what is the secret to success?

As I have said many times before one of the most challenging things to manage when talking to potential vendors in a buoyant market is their expectations. Just as potential buyers are inclined to automatically add 10% to the estimated selling price presented by one of our Sales Agents, so too will a vendor.

Our Agents need to ensure potential vendors understand how they have come to the price estimation they present. The guide price is determined by careful market analysis, local market knowledge and up-to-the-minute examination of demand. In May we fielded 4,963 enquiries. Every one of those enquiries represents a crucial point of investigation into the state of the market and we use that real-time data to feed into the price determinations we provide our vendors.

Our team provide vendors with the most accurate price guide possible because aiming too high is dangerous. If the price is ambitious, it will deter possible buyers, and in turn, has the potential to justify a vendor to reject offers that reflect the true market value of their property. 

It’s really important to recognise our profession is firmly rooted in trust and transparency. We are negotiating deals representing significant amounts of money. We take that responsibility very, very seriously. Our clients need to know, and most importantly they need to believe and trust, that their Morton sales agent is providing advice founded in fact and presented to achieve the very best possible outcome based on a deep understanding of the unique circumstances of each vendor.

It’s equally important to recognise that to achieve a successful negotiation our agents have to establish a similar platform of trust with all parties who make an enquiry and are seeking to purchase a property. 

The result is that Morton secured 31 sales on behalf of vendors in May with an average of 27 days on market for an average value of $3,573,709. 

And to be very honest, there is no secret to that success. It’s actually the exact opposite of a secret formula. It is about being open, honest and transparent. The secret to the Morton success is our team of experienced agents are transparent, responsive, honest and they know their stuff.

And they work incredibly hard. That combination delivers results.

Posted in Ewan's Blog on 9th June, 2021