{"id":13404,"date":"2017-08-21T01:00:37","date_gmt":"2017-08-20T15:00:37","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=13404"},"modified":"2017-08-21T01:00:37","modified_gmt":"2017-08-20T15:00:37","slug":"how-not-to-miss-the-strong-buyer-for-your-property-mat-steinwede","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-not-to-miss-the-strong-buyer-for-your-property-mat-steinwede\/","title":{"rendered":"How not to miss the 'strong' buyer for your property – Mat Steinwede"},"content":{"rendered":"

Mat Steinwede<\/strong> is one of Australasia\u2019s top agents.\u00a0 He has a theory about why many sellers miss the strongest buyer for their property which results in the possibility of underselling.
\nTranscript:\u00a0<\/strong>
\nKevin:<\/b>\u00a0 When it comes time to sell your property, one of the things that you\u2019ll hear agents talk about quite often is taking the emotion out of the sale. Not difficult if you\u2019re selling a commercial property because they\u2019re totally different from residential, but when you\u2019re selling a residential property, it\u2019s natural that you have some kind of emotional attachment to it, particularly in terms of its value.
\nSo, what do agents mean when they say, take away the emotion? Let\u2019s talk to one of Australia\u2019s most recognized real estate agents, Mat Steinwede.
\nHi, Mat. Thank you for your time.
\nMat:<\/b>\u00a0 Hey, Kevin. Thanks.
\nKevin:<\/b>\u00a0 Now, Mat, when agents talk about taking emotion out of the sale, what do you mean and how do you do it?
\nMat:<\/b>\u00a0 It\u2019s like buyers and sellers start at the opposite ends of the interest wave, and what I mean by that is when an agent says to an owner \u201cYou have to take the emotion out of it,\u201d or even people might say \u201cDon\u2019t get so emotional about your house,\u201d it\u2019s really good advice when people say that because a buyer starts logically and then they finish emotionally.
\nSo, when a buyer first sees a home come on the market, they haven\u2019t been there, they haven\u2019t experienced it, they haven\u2019t lived there, but what they do is compare it straight away logically to everything else that\u2019s happening in the market right now, so everything else that\u2019s for sale. They also pull up the data for anything that\u2019s recently sold, so they\u2019re looking at it very clinically.
\nAnd if any owner is thinking of selling their house, they have to do the same. So, they almost have to take the criteria of their property, the area their property\u2019s in, maybe what other benefits it offers, and then sit down at a computer or go around to open houses and just get all the information they physically can and compare it clinically.
\nForget it\u2019s your house for a minute. Do you know how many houses I go to Kevin? I\u2019ll go to three in the same street sometimes and they all say \u201cThis is the best position in the street,\u201d but I just heard that from someone down the road recently.
\nWhen you live there, you get very emotionally attached because you understand everything about the house, but a buyer doesn\u2019t see it that way when they first start looking at it logically.
\nKevin:<\/b>\u00a0 It\u2019s so important there for an agent to be really frank with the seller, isn\u2019t it, and say, \u201cWell, look, this is how a buyer is going to see your property.\u201d You really need to hear that, I think, don\u2019t you?
\nMat:<\/b>\u00a0 You do. When I say they start at the opposite ends of the wave, and I said that they start logically and finish emotionally, once the buyer becomes interested in a home, that\u2019s when price is built.
\nThis is why properties sit on the market for an extended period of time. An owner will see it from that perspective first and work backwards, whereas a buyer has got to work upwards. So, an owner quite often says \u201cNo, I think it\u2019s worth this,\u201d because it\u2019s worth that much to them. They almost miss the market. So, they start high, the market doesn\u2019t respond because the logical part of the process doesn\u2019t connect, and then they sit on the market, and then they end up dropping their price and dropping their price, most of the time.
\nKevin:<\/b>\u00a0 Is that why the first offer from a buyer could be a low because it\u2019s like a statistical offer, a logical offer?
\nMat:<\/b>\u00a0 It is, yes. Even though it might be emotional to a buyer\u2026 And really, that\u2019s the whole equation here. It\u2019s how to emotionally connect an owner\u2019s property with the marketplace, like try and find that middle band.
\nThere\u2019s a saying in real estate: your first offers are the best offers. Even though an owner might see it as low, to the marketplace or the buyer, it might be actually the right offer or the best offer because the buyer has been looking for a while.
\nKevin:<\/b>\u00a0 So, mate, what is your advice to owners if they\u2019re thinking about entering the market?
\nMat:<\/b>\u00a0 After 16 years of seeing owners miss the best offers and end up selling a property for less down the track because they missed that first buyer, I would say that when you do price your home, take your time, research the market, really get a sense of what\u2019s going on out there. Don\u2019t listen to your friends or neighbors because they have no idea, half the time.
\nBut when you do find a buyer, and if it\u2019s in those early stages, the biggest mistake that owners make is say \u201cIt\u2019s early days,\u201d and they let the buyer go. What I would be doing is sitting with your agent and I\u2019d want to know a few things: how long the buyer\u2019s been looking for, how much they have to spend, and how much they love the home. What are their reasons for buying this home?
\nIf those three things are all in your favor \u2013 for instance, they\u2019ve been looking for a while, they have enough money to buy the home, they have a couple of compelling reasons to actually move there \u2013 I would say chances are that\u2019s going to be the strongest buyer you\u2019re going to find along the whole process.
\nEven though it might be less than what you want, don\u2019t disregard it. Sit down with your agent and work through it and work through the reasons why their interested in the home.
\nKevin:<\/b>\u00a0 Great advice there from Mat Steinwede at McGrath Central Coast. Mat, once again, thanks for your time.
\nMat:<\/b>\u00a0 Pleasure, mate.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Mat Steinwede is one of Australasia\u2019s top agents.\u00a0 He has a theory about why many sellers miss the strongest buyer for their property which results in the possibility of underselling. Transcript:\u00a0 Kevin:\u00a0 When it comes time to sell your property, one of the things that…<\/p>\n","protected":false},"author":176692471,"featured_media":14622,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,10,11,13,22,23,25,27],"tags":[101],"class_list":["post-13404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buying-a-property-topic","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-research-topic","category-selling-a-property-topic","category-sponsored-channels","category-trends-topic","tag-podcast"],"yoast_head":"\nHow not to miss the 'strong' buyer for your property - Mat Steinwede - Realty Talk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/channels.realty.com.au\/realtytalk\/how-not-to-miss-the-strong-buyer-for-your-property-mat-steinwede\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How not to miss the 'strong' buyer for your property - Mat Steinwede - Realty Talk\" \/>\n<meta property=\"og:description\" content=\"Mat Steinwede is one of Australasia\u2019s top agents.\u00a0 He has a theory about why many sellers miss the strongest buyer for their property which results in the possibility of underselling. 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