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Real Estate Agents Don't Sell Homes
Published in Australia
Non-Fiction - Business and Economics, Self-Help

Print: 978-1-925447-89-7
ePub: 978-1-925447-90-3
Mobi: 978-1-925447-91-0

Date of Publication: 08 Jun 2016
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Real Estate Agents Don't Sell Homes

David Kaity

Published by MoshPit Publishing

Find out more about David Kaity: Author's website | Facebook | Blog | Other


Finally, a book that busts the myths of the real estate sales industry. It reveals the reasons why you will always leave money on the table regardless of which agent you sell with. Thankfully, it gives a much better alternative to achieving the highest sale price for your home for a fraction of the cost of an agent. You too can walk away with up to $50,000 more from the sale of your home.

What value will you receive from the book

What you will learn from this book:

  • The five wrong reasons why most Australians use a real estate agent and why you should avoid them.

  • Why interviewing 3, 10 or 15 real estate agents won’t make a difference to the success of selling your home.

  • What real estate agents really sell.

  • The number that is far more important than the price you sell for and why no agent talks about this.

  • Why knowing the value of your home has little to do with getting the highest price.

  • Why it is deceptive to think that agents make the process of selling convenient.

  • The real truth behind the ‘database of buyers’ real estate agents claim to have.

  • Why having an open home is often the worst possible way to display your property.

  • Why commissions remove any incentive for an agent to get you the highest sale price.

  • Why being the ‘local area expert’ doesn’t mean that an agent will perform well or achieve the highest price.

  • Why auctions are often better for the buyer and the agent than for the vendor.

  • The actual recipe behind any successful property sale and why you need to trust the process instead of a real estate agent.

  • The huge benefit of considering marketing as an investment instead of an expense and where you should spend your marketing budget for maximum return.

  • The best way to sell any home successfully.

Five reasons people choose to use real estate agents

  1. They think that there is no other viable alternative. Some people even think that they are legally required to use a real estate agent to sell their property, while others think that choosing between three or four agents is having choice enough. What they don't realise is that in reality, these three or four agents from different agencies will be working in the same system, playing by the same rules, and using similar tactics, even if they have slightly different approaches. In addition, they will all charge you a commission and most likely, a hefty marketing fee.

  2. People forget. Even if people have had a previously unpleasant experience, they will sell with a real estate agent again, because this is the kind of transaction that most people only engage in once every seven to ten years on average. Generally, this is enough time for most people to forget the experience, even if it was unpleasant.

  3. The large cost of using agents is disguised. The cost – however horrendous – comes out of the equity in the property, so it doesn't hurt so much. People are not handing over thick wads of hundred dollar bills or clicking on the ‘transfer’ button to pay the agent $15,000, $20,000 or $30,000. People never see the money they pay to their agent and so they don't feel the pain of paying it.

  4. Lack of knowledge about what really sells a property. Most vendors don’t understand what makes people buy property, or put another way, they don’t understand what factors contribute to the successful sale of a property. This is ironic considering that most people, who are selling, will have bought at some stage, and if they reflected on the circumstances of their purchase, they would gain some valuable insights into what made them buy in the first place. Most people who really think about what made them buy their home will admit that the agent had very little to do with not just their buying decision, but much of the rest of the process. If vendors really appreciated the recipe, or the process that lead to a successful sale, they would look for other alternatives to the very expensive traditional real estate agents. Agents know this and so they play their cards very close to their chests, revealing little about this recipe or the components to a successful sale. They know that if they don’t hoard this information, they will quickly become irrelevant.

  5. Conditioning by the industry. There are a number of myths that people have been conditioned to believe about this industry. These myths have become deeply entrenched in the Australian psyche over several decades, thanks mainly to conditioning by the real estate sales industry.

Myth 1: Real estate agents sell properties

Think back to when you bought your home. What made you buy it? If you were dealing with a real estate agent, did they actually do or say anything to sell you the property? Like most buyers, you probably saw the property advertised on the internet; you had a look at the pictures and thought they were interesting enough to justify a closer look.

You probably went to the open home, looked around and within about ten minutes decided that you liked what you saw. You probably made an offer to purchase and maybe it was accepted. Otherwise, there may have been a couple of counter offers, but in the end you signed the contract and bought the property.

It is likely that even before you set foot in the property you knew what your budget was, how many bedrooms and bathrooms it needed to have, what general condition it had to be in, how large the living areas or the block of land needed to be, and what general area it had to be located in. When you inspected a property and it did not fit your criteria, was the agent able to say or do anything to make you change your mind?

Were they able to sell you a property that you did not want to buy? Were they able to convince you to buy something you didn’t like, especially when so much money was at stake?

Of course not. You went there with certain expectations and certain criteria, and if the property met them, then you made an offer to purchase. You did not need to be sold on the property.  

There is a big difference between you buying a property and an agent selling it to you, but very few people are consciously aware of this difference. Following this logic, if you bought the property you are living in and it wasn’t sold to you by a real estate agent, why would you think that you should pay a commission to an agent to sell the property to someone else?

The better way to sell

The topics covered in this book are by no means an exhaustive debunking of the real estate sales industry, but by highlighting the main seven myths that have become deeply ingrained in the Australian psyche, you will no doubt question what you think you know and to look for an alternative.

Knowing what I know about this industry, I promised myself never to let any of my family or friends become victims of it when it comes time for them to sell a property. If my family and friends are worthy of my help, then so are all my fellow Australians. After I came to this conclusion, I made it my mission to save Australians from making one of the most expensive mistakes of their lives – selling with a real estate agent.

I quickly realised that I had to also warn people of making the second most expensive mistake, which is to sell privately. People who attempt to do this without knowing and following the recipe risk leaving lots of money on the table.

As I mentioned at the beginning of this book, there is a process or recipe that sells a property and this recipe doesn’t care who follows it. This means that it doesn’t have to be a real estate agent. You certainly don’t have to pay anywhere near 2.5% plus GST in commissions, in addition to unnecessarily high marketing fees – which can be up to 1% of the value of the property – in order to have this recipe working for you. The recipe itself consists of three parts – Presentation, Pricing and Promotion – which when executed well, make all the difference to the success of any property marketing campaign.

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