In challenging economic times like these, it pays to think outside the square.
Penetrating an exhausted real estate market can be difficult which is why it is important to stay one step ahead of the game.
I believe understanding the current market situation and knowing what people are looking for in terms of buying and selling homes, is vital to business and vital to client needs.
In my experience fresh and innovative ideas in difficult times keep business alive, healthy and prosperous.
This is why we’ve developed a new concept in the world of real estate which, if early results are any sort of indication, is a winning formula.
Set-Date-Sale (SDS) has the characteristics of an auction (but without all the stale conditions associated with it such as deposits and cash payments) and the reliability of the trusty traditional sale.
And when we married the two concepts together we came up with a practical selling method to suit current market conditions.
The way SDS works is simple. After launching a marketing campaign to attract buyer interest, the property is then advertised with a buyer’s price guide or alternatively no specific price at all.
Now this may seem unusual, but in a market where it is difficult to price properties, potential buyers are able to present offers they deem fair and of market value, and sellers find out what the market is willing to offer.
The beauty of SDS is that control is entirely in the hands of the buyers and sellers. They determine the outcome of the sale.
Buyers are required to submit their offers to the agent by a certain date and unlike the traditional sale, the agent is required to present ALL offers to the seller who is then in a better position to negotiate and ultimately decide which offer best suits them.
The buyer has the confidence that their offer will be submitted for consideration and the seller has the freedom to choose which offer they like.
And because of the set date, the property doesn’t linger on the market for months on end. It is a quick and fair process where everybody wins.
This method of selling is exclusive to Realmark. We developed it because the current market demanded new, effective solutions for sellers.
SDS helps to attract and maintain buyer interest. It provides a higher degree of fairness to buyers and great transparency for sellers in comparison to the usual basic sale approach.
The injection of SDS into our business operations has given our clients another option when it comes to selling their homes and a boost I believe the market needed during these times.
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The paradox of insular language
1 year ago
This is definatley innovative. I would love to know the actual results you are getting from this. It puts alot of power in the buyers and they tend to be pretty aggrressive in negotiating these days. I would suggest that it is a sealed situation so other buyers dont see it and tend to just barely edge themselves out to a number.
ReplyDeleteThis is a very innovative technique. It puts alot of power in the hands of the buyer. I would hope they are not able to see other bids so as to not make a situation where they edge each other to death. Do you think real estate will ever move to a bid platform??
ReplyDeleteActually, SDS is very fair to both parties. It gives buyers a chance and time to make a considered offer with the confidence that all offers are presented to the seller in private.
ReplyDeleteConversely, sellers gain faith from the buyer’s market speaking to them about the real value of their property... and there are occasions where the seller would have got less if the traditional for sale with an asking price had been used.
It works for all parties. Thanks for your input. JOHN.
I hear Realmark is trying to claim exclusive rights to this so called "Set Date Sale" and are telling other real estate agents that they are not allowed to use those 3 words???
ReplyDeleteSet Date Sale was created and introduced to the WA market by Realmark and is a registered business name of Realmark Pty Ltd and copyright applies. John.
ReplyDeleteJohn, the idea sounds very much like ebay for houses, except that buyers cannot compete against one another and bid up the price. How is that good for the seller?
ReplyDeleteThe method is a little bit more sophisticated than that . Because it is strongly consultative throughout the process it attracts a top line outcome .
ReplyDeleteThe reality what we have found repeatedly is that our SDS choice provides the opportunity for buyers to make a considered offer without duress and this repeatedly delivers up better quality offers in both price and buying terms . Furthermore , rather than the usual occurrence of one offer only , the seller often has multiple offers to consider and base an informed decision upon.
Plus various steps in the process provide buyers opportunity to revise and improve their offer for seller consideration. Overall it is a whole lot fairer and easier on buyers and the seller can make a confident decision that they have not undersold their property . As you rightly suggest ensuring a property is not undersold is the key to the right outcome .
In that context , we have found that it has been an outstanding success for clients , plus the case studies reveal that for buyers and sellers it is a positive experience .
The frustration for us is that some try to imitate what Realmark SDS does without understanding all the components of marketing , reporting , consultation , etc that are essential elements to avoid what you are suggesting and to ensure a good result for the client .
I hope those comments assist . JOHN.