{"id":14465,"date":"2017-11-01T01:00:26","date_gmt":"2017-10-31T14:00:26","guid":{"rendered":"http:\/\/www.realestatetalk.com.au\/?p=14465"},"modified":"2017-11-01T01:00:26","modified_gmt":"2017-10-31T14:00:26","slug":"the-5ps-to-getting-top-dollar-when-you-sell-justin-nickerson","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/the-5ps-to-getting-top-dollar-when-you-sell-justin-nickerson\/","title":{"rendered":"The 5P\u2019s to getting top dollar when you sell \u2013 Justin Nickerson"},"content":{"rendered":"

Every seller of a property wants top dollar and every buyer doesn\u2019t want to pay too much.\u00a0 It becomes a battle and, as a seller, you cannot always be sure you are getting a fair deal or at best \u2013 top dollar.\u00a0 I asked the man who has just been crowned as the best auctioneer in Australasia for his advice.\u00a0 Justin Nickerson<\/strong> tells us how you can achieve that with his 5P\u2019s.
\nTranscript:
\nKevin:<\/strong>\u00a0 Over the past three or four months, the Real Estate Institutes around Australia have been conducting a competition to try to find Australasia\u2019s best auctioneer. Last month, five of them got together for the finals in South Australia: Mark McGoldrick from New Zealand, Bronte Manuel from South Australia, Ned Allison also from New Zealand, Clarence White from New South Wales, and Justin Nickerson from Queensland.
\nJustin Nickerson \u2013 for only the third time in history \u2013 took out the award for the second year in a row. When I caught up with Justin, I wanted to know from him his experience about how sellers can get absolute top dollar when it comes time to sell.
\nJustin:<\/strong>\u00a0 Sellers want to achieve the best price, and we break it down to what we call the five P\u2019s to get you a premium price. Because the reality is that you could always sell a property, you could chuck a sign out the front tomorrow, and you could find someone at lowest common denominator to buy it. The challenge or the hunt is actually to get the best price that\u2019s out there. I think an emotional buyer and a competitive environment are your two keys.
\nThe five P\u2019s we talk about are presentation, so ensuring that you present your property well. People walk through there and it doesn\u2019t have to look like a show home or a display home, but it certainly has to be to the best of its ability. Space is a big one. Not having a cluttered home is a huge thing, because space allows people to visualize what the property potentially can be. Obviously, being cluttered makes the property feel smaller, which is something you never want to do.
\nThe second one is process, so dealing with an agent who actually genuinely understands the way that buyers think and are going to be able to pass the information back on to you, because what you want your agent to be doing for you is giving you true information from the market.
\nNot necessarily what people think the property is worth or what the property might sell for, you want your agent representing back to you what people are actually going to pay for your property. So, making sure that you tick off on the process side of it.
\nPromotion, which is advertising. Whether you\u2019re a believer in the newspapers or not, that\u2019s your own belief, and your own spot, depending on where you are, whether it\u2019s going to be relevant or not, but making sure that you do promote the property well.
\nSo, the photos look good. If you\u2019re doing videography, which is an area that we\u2019re really exploring at the moment, you do a good video to really promote and highlight the benefits of buying the property, and just making sure that the advertising really does capture the buyers. Talk about the key attributes of the home, and talk about why the sellers are selling to make sure that the value-based buyers get engaged, as well.
\nPricing strategies: that\u2019s deciding whether you go with a price or without a price. You can put a set price on the property or an \u201coffers over\u201d strategy if that\u2019s what you want to do. Being an auctioneer and being compensated to stand in people\u2019s front yard and call out numbers, I\u2019m always of the belief that auction is the best method to go with, but again, having a clear strategy in mind and knowing why you\u2019re embracing that strategy.
\nThe last one, which is a bit of an under-rated one, is choosing the right person. It\u2019s not necessarily highlighted enough how good a good agent can be for your sale price. I know that there\u2019s always a cost battle there that you want to try to save as much money on the commission as you can, and we\u2019ve seen the rise of flat fee, lower-priced agencies existing.
\nThe reality is a good agent can make a difference in your sale price of many, many thousands of dollars more than their commission. If you don\u2019t choose correctly at the start, the rest of those other four P\u2019s can all be sacrificed as well. So, making sure you get the right person, someone who has a demonstrated sales history in the area, someone who communicates well to you, and someone who believes in your property as well and thinks they\u2019re going to get a good price.
\nKevin:<\/strong>\u00a0 In selecting that agent, that point number two \u2013 the process \u2013 is one way to determine whether you\u2019re with a good agent as well, and also, give them a test, I believe. Make them follow you up, see how well they follow you up, because if they follow you up well, they\u2019re going to follow up your potential buyer as well.
\nJustin:<\/strong>\u00a0 Yes, spot on. Go to open homes, go to auctions, interview a number of agents, and make sure that you\u2019re not based around the fee, because the funny thing is that if you ask an agent to discount their commission, you\u2019re testing their negotiation skills, and if they\u2019re ready to roll over and say, \u201cOkay, sure, take my money,\u201d when a buyer is coming to do the same thing, they\u2019re going to do the same behavior.
\nYou really want an agent who knows what they\u2019re worth, they\u2019re willing to stand up for what they\u2019re worth, because chances are, when it comes down the line and they\u2019re negotiating on your behalf, they\u2019re going to do the same thing.
\nKevin:<\/strong>\u00a0 There you go. Just to summarize, the five P\u2019s are:
\nPresentation: I guess that comes down to staging. The process the agent goes through: a great opportunity for you to get an understanding about do they really understand the auction process, and believe me, that\u2019s absolutely critical. Promotion: you cannot sell a secret. The price strategy: what is the pricing strategy, how much does that agent understand about the market and where your property is going to sit? And I guess probably the most important one, as Justin said, is the person to do the job.
\nMy guest that time was Justin Nickerson, Australasian Auctioneer of the Year.
\n <\/p>\n","protected":false},"excerpt":{"rendered":"

Every seller of a property wants top dollar and every buyer doesn\u2019t want to pay too much.\u00a0 It becomes a battle and, as a seller, you cannot always be sure you are getting a fair deal or at best \u2013 top dollar.\u00a0 I asked the…<\/p>\n","protected":false},"author":176692471,"featured_media":14466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,11,13,36,23,25],"tags":[101],"class_list":["post-14465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-kevin-update","category-latest-story","category-property-investment-topic","category-selling-a-property-topic","category-sponsored-channels","tag-podcast"],"yoast_head":"\nThe 5P\u2019s to getting top dollar when you sell \u2013 Justin Nickerson - 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\/the-5ps-to-getting-top-dollar-when-you-sell-justin-nickerson\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The 5P\u2019s to getting top dollar when you sell \u2013 Justin Nickerson - 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