{"id":4104,"date":"2015-04-24T01:00:00","date_gmt":"2015-04-23T15:00:00","guid":{"rendered":"http:\/\/realestatetalk.com.au\/?p=4104"},"modified":"2015-04-24T01:00:00","modified_gmt":"2015-04-23T15:00:00","slug":"how-to-sell-a-very-unique-property-with-limited-interested-buyers","status":"publish","type":"post","link":"https:\/\/channels.realty.com.au\/realtytalk\/how-to-sell-a-very-unique-property-with-limited-interested-buyers\/","title":{"rendered":"How to sell a very unique property with limited interested buyers?"},"content":{"rendered":"

 
\nIn today’s show\u00a0Michael Cooney,<\/b> from Hodges<\/a>, joins us to talk about how to sell a very unique property with limited interested buyers.
\n <\/p>\n

Transcript:<\/b><\/h4>\n

Kevin:\u00a0 <\/b>Sometimes from time to time, you\u2019re going to need to move something out of your portfolio that might not be performing all that well, and it might not be performing because maybe it\u2019s only limited in terms of its attraction to tenants or even its attraction to buyers. What can you do? Michael Cooney from Hodges in Melbourne has had some experience with this and joins me.
\nHi, Michael.
\nMichael:\u00a0 <\/b>Well, thanks, Kevin. How are you?
\nKevin:\u00a0 <\/b>Good. Michael, what advice would you have for someone in this position? What should they be doing?
\nMichael:\u00a0 <\/b>They have to firstly understand the property they\u2019re trying to sell and its uniqueness. Every property has a unique selling feature. If they\u2019ve had it for a while, it could be something that has a longer term tenancy in it. You have to understand the property, and if they\u2019re going to sell it, they need to find an agent who will understand the property. That\u2019s the first thing. The current owners bought it for a reason or reasons, so it\u2019s very important that the agent knows those reasons, and this will help them understand the buyers who they\u2019re looking for.
\nTiming is the next point. When is the best time of the year to sell and show the property? Now, now if it\u2019s an average investment, time is probably less critical. At the moment, if we\u2019re going to sell apartments above shops in an area where it\u2019s a bit of a tougher market, what we have to do then is look at \u201cOkay, how are we going to market those? Who\u2019s going to buy it?\u201d and they\u2019re very much a local buyer. I would advise your investors then to choose a local agent. They should be choosing someone local who knows the market, who has sold similar <\/b>properties, and that\u2019s very important, also.
\nKevin:\u00a0 <\/b>I like the point you made earlier, Michael, too, about understanding the buyer and where they\u2019re going to come from, because that\u2019s certainly going to help with the marketing again, I would imagine, as well.
\nMichael:\u00a0 <\/b>I think so. I think if you\u2019re looking at, \u201cWho is going to buy this property? Is it another investment or is it going to be an owner-occupier?\u201d If it\u2019s going to be another investor, are they going to be a local one? Are they going to come from a financial planner? Are they going to be a self-managed super fund?
\nBut if they\u2019re going to be an owner-occupier, if I were the owner of the property, I would be looking to do some research about what you can do. Research \u201cWhat properties like mine have sold recently, and who has sold them?\u201d
\nGo to that agent. If they\u2019ve had a successful marketing program, you know how many days it\u2019s been on market, they will have a list of buyers who perhaps missed out on the property, so an off-market sale may be a distinct possibility.
\nBut you also have to look with unique properties at why are they selling now? What\u2019s the reason they\u2019re selling now? Is there a real negative with the property that they need to tell the agent that needs to be overcome?
\nKevin:\u00a0 <\/b>There\u2019s always a reason for a property to be sold, Michael, isn\u2019t there? It could just be that it\u2019s excess in the portfolio and you\u2019re saying you should brief the agent on this?
\nMichael:\u00a0 <\/b>I think so. It\u2019s really important that people tell the agent and find an agent who you can sit across the table and have some really open and honest dialogue with. If it\u2019s a distressed situation, tell them, because the right agent will help you. The right agent will help you in every circumstance. The wrong agent won\u2019t.
\nIt\u2019s really important to research, \u201cOkay, I\u2019m going to perhaps rate my agent and see who the number one sales office in the area is, who is the number one salesperson. Does that coincide with who\u2019s selling these types of properties in the marketplace?\u201d
\nIt could be simply that you\u2019re retiring, it\u2019s a pre-CGT (capital gains tax) property, so you\u2019re just ready to liquidate it, or you\u2019re looking to move into another investment. You\u2019re shuffling between funds. There are a number of reasons why you\u2019re selling. Be open with the agent and make sure that person understands exactly what you\u2019re trying to achieve, when you\u2019re trying to achieve it, and how you\u2019re trying to achieve it.
\nKevin:\u00a0 <\/b>Yes, it all makes sense, Michael. Thank you so much for your time, Michael Cooney from Hodges in Melbourne. I appreciate your time, mate. Thank you.
\nMichael:\u00a0 <\/b>No worries. Thanks very much.<\/p>\n","protected":false},"excerpt":{"rendered":"

  In today’s show\u00a0Michael Cooney, from Hodges, joins us to talk about how to sell a very unique property with limited interested buyers.   Transcript: Kevin:\u00a0 Sometimes from time to time, you\u2019re going to need to move something out of your portfolio that might not…<\/p>\n","protected":false},"author":176692471,"featured_media":4178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10,25],"tags":[101],"class_list":["post-4104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-kevin-turner-sponsored-channels","category-sponsored-channels","tag-podcast"],"yoast_head":"\nHow to sell a very unique property with limited interested buyers? - 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-to-sell-a-very-unique-property-with-limited-interested-buyers\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to sell a very unique property with limited interested buyers? 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