Probability is What Works Once, Doesn’t Always Work Twice.

Probability is What Works Once, Doesn’t Always Work Twice.

Probability is what works once, doesn’t always work twice.

It’s a big assumption.

And, contrary to the oft-quoted Henry Ford ” If you always do what you’ve always done, you’ll always get what you’ve always got”.


The home that sold in a few weeks, down the road, for just below the asking price, enabled the estate agency to gain some ‘brownie points’.

Your home is similar.

You want to move.

 

Should you use the very same estate agency?

Should you ask the very same price?

The Law of Conditional Probability says not.

It is a finite market.  There are only so many opportunities.

Unless there was a line of frustrated buyers outside the estate agency office, the probability is that the previous sale soaked up the one buyer that was in the market.

For that particular home.  At that particular moment.

Don’t assume, that because your neighbour sold with Agency A, the agency will be a perfect fit when you decide to put your home on the market.

They probably won’t.

Choosing an estate agency is as much about character as it is competence.  Its relational.

Rather than transactional.

What one homeowner likes, may be repugnant to another.

Evidence, if you will, garden gnomes, wishing wells, leylandi and imitation lawns.

It’s important that the homeowner and the agency can sustain a good working relationship.

If you don’t ‘get on’ with the agency, no amount of slick sales patter, no impressive track record and no premium price promise is going to fix the problem.

Look elsewhere.

And that price promise?

The eventual selling price achieved for your neighbour comes with a ‘back story’.  Ask the agency about that story.

How was it marketed? What was the click-through-rate on the portals? How many viewings?  How many offers?  What percentage  of the original asking price was achieved?

Since the eventual selling price was below the original asking price, what steps did the negotiator take to ensure the buyer paid more?

What was the first offer? How long before the first offer? Why wouldn’t the buyers pay the asking price?

The ‘price promise’  from any agency is just that.  There to be broken.

There are reasons aplenty why many agencies don’t achieve the asking price.

There’s a good example on our website www.agencynegotiation.com  

It’s to do with the commission structure that loads the dice in their favour.

But my point is this:  Each and every transaction should be viewed as unique.

Starting afresh.

Consider different agents because the agency that sold your neighbours home just might have been able to do better.

On the eventual sales price.  On the valuation. On the fee.

But didn’t have the courage

Consider a different asking price. If only to find out how certain agencies might justify the increased valuation.

Rock the boat.

Rock the Boat

We’re here with the life-jackets.

Ask awkward questions. We’re here with the answers you need.

If you simply do what your neighbours did and choose the same agency.  At the same price.  In all probability,don’t expect the same result.

Have a question about choosing the best agency.  About negotiating the best fee structure.  About making the right choice, first time?

Get in touch. We’re happy to help

[email protected]

@chris_agency

Tel: 0800 0112 678

Thanks for reading.

 

 

 

 

 

 

 

 

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