KGCI: Real Estate on Air - The Art of Pricing Property and Communicating Value to Sellers

Episode Date: March 5, 2026

Summary:In this episode, the host discusses the critical skill of pricing properties correctly and effectively communicating that valuation to sellers. The conversation emphasizes that an agent's true value lies not just in their ability to sell a property, but in their expertise in pricing it accurately from the start. The host provides a tactical framework for conducting a comparative market analysis (CMA), explaining the importance of using comparable sales, market trends, and property-specific details to arrive at a realistic price. The episode also covers key strategies for presenting this information to a seller in a clear and compelling way, managing their expectations and building trust.

Welcome to the new version of Let's Talk About Real Estate Podcast, the podcast for real estate agents everywhere. I'm Lisa B and together with Beyond Kunzel, we're going to talk about everything real estate. We talk about what's working, what's not working, what's new, what's old, technology and anything else to do with real estate. We'll answer your questions from the Facebook group, Let's Talk about real estate. So if you have a question, we can help. Join the Facebook group today and again, welcome to the show. John Kunzel, welcome to Let's Talk about real estate. This week we're going to be talking about the seven P's of real estate and how we can actually help a seller maximize the profit, which is the 8P.

So would you like to go through what our little list is and what we're going to be talking about today? Yeah, definitely. Firstly, Leicester, great to be back here and for everybody that's listening. And thanks for being part of the show. So we're going to get straight into it. So as agents, we're there to obviously maximize our seller's profits. And that's why they choose us, ultimately at the end of the day, from a seller's perspective, they want to get the maximum they can out of their property. Now, we all know there's certain factors that involve in that.

But these are the seven keys to go through when you're sitting down with a seller, to actually explain to a seller for them to actually understand how you derive at their profit. So the first one is property type. The second one is the positioning of the property. The third one is the preparation of the property, which then brings us into presentation of the property. preference of agent is extremely important. And then we talk about the promotion of the property and then how to price the property.

So they're the seven keys that every home seller needs to get right in order to result in maximum profit from a property. Exactly. All right. So the property type, obviously, you know, depending on whether it's an apartment or whether it's a luxury listing, you know, whatever it is, you know, you've got to actually have a look at all the comparable sales

and all that sort of thing as well. And after this, what I'm going to go into is after we do these 7Ps, I'm going to be talking about how to actually explain this to the seller as well, like sort of go through pricing as well. So how we arrive at price and how a seller may arrive at price. So, all right, what is we pay about property price? Property type. So property type, I mean, we've got units, we've got townhouses, you've got self-standing properties, you've got community title properties, are they strata title properties? What additional fees? Because obviously, community title and strata title have additional fees that can impact price.

and often in a unit situation, there might be 10 units and they're all the same on the other side, all the same floor plan on the inside. And that depends on what they're like inside. Then you've got luxury properties. You've got properties which are, you know, a beach side. You've got holiday home properties. You've got Airbnb type of properties. You've got permanent rentals. You've got four bedroom homes, three bedroom homes, two bedroom homes, five bedroom homes. So you need to first start looking at the property type and start doing comparables around that property. type because that's very important to compare apples with apples and not apples with oranges. And like you said, if the strata fees are exorbitant, you know, compared to one down the road,

which they're a lot lower and, you know, it's a newer building and things like that. You know, yeah, that can really have a huge impact, obviously. Certainly, definitely. All right. And then you've got the positioning of the property, which is the second P. And positioning on the property, like I say, is it hills views, is it beachfront, is it right in the middle of the CBD, you know, because depending on the positioning of the property will depend on the type of purchaser that's looking at that property. Is it positioned around schools? Is it positioned around the best public

schools in the area? Is it positioned around the best private schools in the area? Is it positioned by water? Is it elevated? Is it in a flood zone? Is it, you know, all these things come into play as well? Is it a property that's a luxury property that offers somebody the next 20 or 30 years of lifestyle because of the way that it's positioned and where it's positioned, or is it a property that's positioned in a bad section of town, in an area with high crime, in an area where there may be factories nearby, but you're residential, is it in, by the side of a highway, is it out in the middle of the country? The positioning of the property is very important as well to determine what type of buyer is going to be attracted to that type of property and you need

to understand that buyers needs once and concerns and factor that in as well when you're marketing a property. Right, because it's always, you know, location, location, location. You can change the property, but you can't change the location. The main thing you've got to get right as a location. And there's also the orientation of the property as well. It might be facing south. It might be facing west. It might be getting a whole lot of shadowing from the building next door. I remember going into an apartment and I thought, this is the best listing ever. And I went back the next morning and it was dark. You had to have the light on in every single room. So I priced it nighttime price. Daytime price. It was not the same price. You know, so you've got to take all of those things into into consideration

as well. You do listen. And I've just purchased a property, right? And the main thing when I purchased the property that I'm living in now was my kids were accepted into the King's Baptist School here in Adelaide in Winvale. My one and only goal was I was on a main road. So I wasn't happy with the main road position, but that was my first home. And my wife wanted to get off the main road. I wanted to get the kids into Kings Baptist School. They were accepted into the school, which is probably one of the top 10 schools in South Australia. Well, it is. It's voted that. And I wanted my kids to be within walking distance to the school. So my whole property search was simply based on walking distance to the school. Now, when I purchased this property, which I'm in now, it didn't tick all my boxes. It didn't

have the 2.7 metre ceilings. It didn't have, you know, the double garaging. It didn't have shedding. you know, it wasn't the prettiest property in the world, all those sorts of things, but it was walking distance to the school, which my kids have enjoyed. My kids are 10 and 7. Now, I've just purchased another property, which is my upsize, which is the 1,300 square meters. It's still within walking distance to the school. It's walking distance to walking trails. You know, so the positioning of the property was very, very important. I just paid an extra $225,000 more than I originally wanted for that particular property because of the position. because I could go to a suburb called Greenwood,

which is an extra 10 minutes down the road, and I could buy a property for probably $300,000 or $400,000 less, that's actually larger, but I didn't want to be that 10-minute drive from school, and my wife didn't want to go any further north because her family's south. So we had a particular area of Gulfview Heights, the dress circle of Gulfview Heights,

and I paid a premium simply based on the positioning of the property. So it's very important that you factor in what's around the property, the surrounding property, shops, public transport, all these types of things, because somebody like me who's an emotional buyer who's looking for a forever home, it's a very different scenario to an investor looking for an investment. Because schools can be such a huge factor. I remember I sold a property to a couple that had a special needs child

and their parents lived across the road. They paid a premium price for that. So it's also knowing buyers as well and what's important to them. And, you know, like you were an emotional buyer and sometimes we get those emotional buyers. So we'll talk about that after we go through our peas. we'll talk about, you know, sort of emotional prices and things like that too. All right. This is why just on that positioning of property,

this is why it's really important from an agent's perspective to have real conversations with buyers. Who are you? Where are you living currently? You know, what are you looking at doing, you know? And when are you looking at doing it? And why are you actually looking at doing what you're doing? Because once you understand that,

you can then use those things to help navigate that buyer through the mind things two ways. What am I paying for the property? How much do I love the property? So you want to take it away from a price experience for the buyer and make it about a lifestyle experience. Yeah, absolutely, absolutely. Okay, now we're talking about the preparation of the property. Yeah, so I always say to everybody, if you fail to prepare, be prepared to fail. Because obviously presentation is everything, which is our next P, but we need to prepare for that. So is there any wood rot on the property? Is there any major building or maintenance concerns, you know, is everything working and

functional in the property, you know, are the carpet's worn out? Is the paint tired and worn, you know? Are there doors hanging off of hinges, you know? Preparation, you need to basically look at your property. You need to look at what buyers might go, gee, I'm not really happy about that. And you need to rectify those things and prepare for those things. Now, it does determine property type again, because you may have a really rundown property, but it's on 1,200 square meters in a suburb where everything else is on 400 square meters and a developer is going to come and knock it down. So obviously presentation and preparation from that point of view are irrelevant in that particular

property type. And this is why you're going to look at it as a whole. But in a general family setting for a family home to appeal to purchases that are looking at living in a property or investing in the property, they don't want trouble. So be prepared and prepare your property for sale because if you fail to prepare, be prepared to fail. That's what I always say. What's your take on that, Lisa? Yeah, and it could be just like, you know, like I was saying, that apartment that was really dark. You know, you might have a really dark house. It might be some skylights that you can put in, you know, that are going to give the house a bit more light and, you know, all of that sort of things. So yeah, just take a really objective view at the property and what is it that buyers are going to look at? What is it that needs to be done? And just, you know, like we know, the lawns out the front, when you're taking photos of the property, make sure things are put away the water. washing isn't sitting on the bed, you know, things like that, you know, from a preparation of,

you know, all of those sorts of things, preparation of your photography as well, you know, just, just you want to have the property in its best light. And if it's an older property, you're not going to be able to fix everything, but, you know, the major things, just the things that are obvious. And that brings us into presentation because preparation and presentation are hand in hand, really. And, you know, like you said, lighting, there's a few very simple things. So you're front curb appeal, right? Make sure your curb appeal looks good because the first thing they're going to see is the photos on the internet.

So you're going to make sure your photos are done well, like you said, prepare with your photographer. And don't make the property look like it's dark online or don't take photos yourself if you don't know what you're doing, all these sorts of things. But you know, the main things people see is what's online, then they drive past the property. They judge a book by its cover. Everybody does, right? Don't judge a book by its cover is the saying that everybody in the world knows for a reason because everybody judges books by their cover, all right?

make sure that it has the curb appeal because that's the first thing that they're going to see to make them want to come into the property. The second thing is the two biggest things that people see are your floors and your walls. Because your floors and your walls, along with your ceilings, it makes up the majority of your property, right? So if you've got worn and weathered floor coverings, for a couple of grand, you can get new carpets or floating floors or vinyl plank floors. There's lots of options nowadays and speak to your agent about those. But fresh paint, you know, new floor coverings, presentation is everything, premium presentation. equals premium price. Now is the property vacant? If the property is vacant, then it's definitely

worthwhile if the property is neat, tidy, clean and appealing to buyers that want to live in that property, to get the property staged, right? So that's part of your presentation as well. Declutter everything. Take down all personal photos. Make sure anything religious is removed. Make sure that anything sporting-wise is removed because people want to feel like they're in their next home, not that they're browsing through somebody else's home because when they feel like they're in somebody else's home, they feel uncomfortable. When there's no trace of the other owners and they, and it's presented really nice, they feel like they're in their next home, they start to visualize themselves living there and that's part of the process.

See, this is what I love about this because I don't agree with that because I like it when they've got their own photos up when I've sold properties because they've known that person, they've worked with that person, you know, so I actually like it when they've got their personal things up because they'll go, is that Dave? I work with Dave. All of sudden, they trust that seller because it's Dave. You know what I mean? So it's like, you know, whatever you believe in, but I like to have personal photos there. Sorry, Bjorn. Yeah, I disagree one million percent because it's about a psychological connection. And the only photos that you might have up is kids, because everybody loves kids,

but I don't want to see the two owners. I don't want to go into a bedroom and visualize those two owners sleeping in that bed in that bedroom. I don't want to, I don't want to walk into a bathroom and think, okay, this is where these two people, because I've got a picture in my, in my head now. Like, if I don't know who owns a property and I don't see the people, then I picture myself there, myself in the pool, myself in the yard. I like to see, you know, sort of what, who are the people, you know, who are they? I like to know. But anyway, we agree to disagree. Yin and yang. We're allowed to disagree on things. Exactly right. All right. So, what's the next one? So the next one is very important, which is your preference of agent, okay,

because whoever presents your property to the market, the dialogue, the discussions that they have with those particular buyers could be make or break. The strategy that they use and how they draw out the best possible price is very important as well because anyone can put a signboard up, anyone can order photos, anyone can stand at the front and hand out brochures. But you're paying for a marketer that's professional and you're paying for a professional negotiator.

That's what you're paying for. So the home sellers, and I love these ones, the home sellers that always bring up, what do you charge, what's your commission, what are your fees? And they haven't even met you and you haven't even had a discussion with. They're the home sellers that I don't want to deal with because they're the home sellers that have got no idea. And they're the home sellers that just think that it's the same as buying a car from a car yard. And it's a Toyota land cruiser. And it doesn't matter which car yard you go to. They've all come from the same factory.

Real estate is so different. It's a people's business. I have people say to me that are sellers that will talk to me and they'll say, look, this, this company or this agent wanted to sell my property, we had no interest in them at all because we didn't want that agent representing our property because when we went looking for property, they didn't call us back, they didn't contact us, they didn't SMS us, it was sold after one open inspection, they didn't give everybody in the market a fair chance to see the property, their communication was poor, whatever it might be. So promotion of a property

comes down to your preference of agent. And that's, that's our number. next one is, is promotion. Yeah. Well, hang on, hang on, preference of agent, because we're talking about the profit. And if there's an agent like, you know, with the property you purchase, there was three buyers, say, right, you know, if they didn't handle that property properly, they wouldn't have obtained that price. And if an agent is so focused on just getting the property sold rather than the profit or the price for the seller, you know, a seller can lose a lot of money, can't they? Like, it's ridiculous. And as you said, it's not what an agent is.

charges you, it's what they can cost you if they don't do it properly. And, you know, they can't give away things like the reason for your selling, you know, if, if you're in financial trouble. Oh, yeah, they're in financial trouble. You know, what's the buyer going to do then? It's a divorce. Okay, maybe we might get it cheaper. Oh, it's a death in the family. Oh, so there's, how many beneficiaries are there three? Okay. Oh, well, that doesn't, you know, three, three, you know, this price divided by three, that's not too bad. You know, you can't give away those things to a buyer that's going to affect the price. You can't tell the other buyer what the offers are. That's, that's unethical to me as well. You know, so it's really being that

negotiator that is going to get that seller the best price as well. Well, taking into my personal consideration, right, I bought five properties, okay, in my time. And the first one was great. That was a guy, Nabil Shahardi, I bought my first home off of who I was going to, and I went and worked with for a while, right? So fantastic experience. Great. Get a great job. Really good negotiator. Really good negotiator. The other three agents, which I won't say who they were, they were absolutely terrible. Absolutely terrible. They didn't listen to a single word that came out of my mouth. I told them why I was buying the property and what my plans were. And then, yeah, I out-negotiated them big time, right? And the last property that I've just purchased,

one was a block of land, so there wasn't really too much involved in that to block a land. but the last one which I purchased, the agent, I actually said to the home sellers at the building inspection, I said, you've got to thank your agent because your agent's just drawn an extra $2,000 out of me. Now, I went and appraised that property, and I praised it at about 1.2. Okay. They had another agent come in. I said, look, I'm interested in buying it privately, had to go through the whole rigourole. They said, come back, whatever. They said, we're going to get some more opinions. Another agent came in at 1.2 to 1.25. Another agent came in at 1.2 to 1.25.

And this agent said, let's put it up for 1.25 to 1.35. Now, all along, I wanted to pay 1.2. Went on the market. He texts me. He's an agent that lives three doors down from this house that I'm buying. So I thought in my head, we're competitors. I don't know if this guy's going to want to actually sell to me. But I've wanted this house bad, right?

Because I'm going to live there until I get carried out in a casket. Long tory short, he said to me, and goes, Bjorn, here's the property. I told you, I'd let you know. when it's online, it's online now. First inspection is going to be this day at this time. How I'm going to work is I'm going to do an open inspection. Then I'm going to get interest, of course, and I'll probably like this. Then I'm going to do another open inspection and then we're probably going to sell. So you need to move fast. But what you need to do is ask yourself how much you

want this property because I'll sell you this property, but it's going to cost you. You're going to pay for it. And I said to him, look, right, I don't care about the price. It's just money. You know, I'm at EXP, so money's nothing. You know, the money that we keep at EXP is, is, you know, twice as much as what anyone gets anywhere else. So I was like, I don't care about the money. I just want to secure the property. Now, throughout his negotiations, he let me know by guiding, because he said, well, God, didn't give away other people's offers, but I went in at 1.35 straight away. This agent said to me, look, Bjorn, you're going to miss out, you're going to get upset with me. You're going to ring me up and you're going to think that I haven't sold

to the property and that something's going on. I don't want any issues. I don't want any problems with that. You've been looking at this property for three months. We know you want it. It's gone above the price range and it's gone into the next the next number right it needs to have a four a one point four something that's all i can say that's all i can say he goes and i'm just giving you every chance to make your best of final offer by 9 30 tomorrow morning and if you miss out you miss out but please do not get upset with me because i'm giving you every chance okay i'm letting everybody know that's where it's out he goes there's five offers on the table you're equal first on conditions your third on price at the moment i said what about 1.36 1.3 no you're going to miss out yon

and you're going to get mad at me, you're going to get angry at me, I don't want that. You've got to give me your best you can. Anyway, long story short, I paid $1,425,000 just to secure the property, right? Which is 75 grand more than the top end of the asking price. However, as a buyer, when I look, did I get out negotiated by that agent? Not really, because I just wanted the house. I didn't care about the money. There's property sales in that area for $1.57, you know, $2.2 million, $2 million, $2 million, $1.38,

And those other properties that were less than the property price that I paid on my own research, they weren't flat, they were hilly. Mine's flat, they didn't have a pool, this one did. You know, this one was immaculate, those ones were sort of not immaculate. So all those factors, I factored in myself, but the agent that they selected got me to pay more. If they would have selected one of the other two agents and taken it to auction, I probably would have preferred to go to auction because I know that I was only one of two cash unconditional buyers. So it would have been a very different scenario. So the agent chose the strategy. The agent chose the negotiation process.

The agent communicated with me. Now, I'm happy because the communication was good. Did I pay way more than I wanted? Yes, I did. But the communication was good. So this is where selection of an agent or preference of an agent is absolutely critical. Because another agent might have cost them $225 grand. This agent got them $225,000 and they've still got a happy buyer.

Do you know what I mean? So it's very important, very important. You're an emotional buyer. So it's important to recognize that. You were the ideal buyer. You just said, I don't care. I just want it. So that's awesome.

As an agent, you're going, yeah. You know, because you're the emotional buyer. Yeah. All right. So now we are at promotion of the property. So you can't sell a secret. Now, I've got a massive buyer's agent network. And if I've got development sites, I'll get more money for a development site off market

than what I will on market. Because the developers that will pay more, they do not buy on market development sites they do not want to go to auctions they do not want to compete with other people they want to feel like they're getting VIP now here's apart from that scenario you need to make sure that you are promoting your property properly so you need to be real estate.com you need to be on domain.com you need to be on all the other sites you need professional photos i always do professional videos i do google ads facebook ads instagram ads youtube ads right some of my property videos are getting 10 000 15 000 hits in like a week

So you've got to make sure that you've got a sign at the front. Put photos on the sign. Don't just have a board with your name on it. I think you need to have photos so you can let people see inside from outside. You've got to make sure that the promotion of the property, how many inspections are you going to be doing? Are you just going to be doing one a week or are you going to be doing midweek opens? You know, all these types of things with how you promote your property, right? If you don't leave any stone unturned, you know as a seller that if you've had the right preference of agent, right, you've

Right? You presented and prepared your property well and you're promoting your property properly that you will actually get the maximum price for that property. But if you go, oh, you know what, I'm going to cut out the signboard. I'm going to cut out the professional photography in the video and I just want you to take some photos and put on on real estate.com. Well, then it may not be appealing to those emotional buyers and we will know emotional buyers pay more, right? I'm a logical buy when I buy investment properties. All the investment properties I've bought I've made an absolute killing on. I've bought, I've bought, I've bought, them very well. But this property that was my final purchase for my next 35 years, for my kids to grow up at school and families to come over and have parties, I didn't care about price. And I didn't care about telling the agent about that either because I just wanted them to know this is the guy that's going to pay the most amount of money. Let's just get the most of money out of this guy and get the property and get it done. You know, $225,000. I've got $150,000 of settlements happening in the next 30 days. I can make that up in a couple of months if I have to.

It's not about the money for me in my situation. So the promotion of a property will make sure that you draw every single buyer for that property out of the marketplace and they see it and they know it's for sale and then you've got to give them all the opportunity to buy it. Yep. And also too, there might be things like you know, you've got your normal advertising for different properties, but you've got the marketing that you do for yourself as well, which is going to attract more buyers as well and attract people to you. But also too, like just say, for example, it's a property. that's near the local hospital and it's a, you know, it's a reasonable property or it's, you know, sort of a higher end or whatever. It might be the doctors that you approach through the hospital. It might be, you know, so think creatively as well, you know, your luxury,

where are the luxury buyers going to be hanging out? You know, make sure you've got, you know, we've got our new EXP luxury division here, which is amazing. I'm obsessed by it. I love it. I love it. You know, to be able to advertise your property in the Wall Street Journal, you know, you sell this property in the Wall Street Journal, into the Rob Report, into mansions, you know, magazines, into, you know, 79 different places, different countries and things like that. Just incredible. So, you know, know, know who your buyer is going to be and where they're hanging around as well. Yeah. All right. So now we come to the pricing of the property. And this is, I think property type and pricing and position go hand in hand.

right. Yeah. I believe that when somebody says to me, what's my property is worth, I say your property is worth what the most motivated, emotional buyer is willing to pay for your property at the point of time when we put your property on the market. And the reason I say that is because the house next door is completely different. The house across the road is completely different. The only thing they share is the positioning. But apart from that, one might be four beds, one might be three beds. One might face north. One might face south. For example, me, I love north-facing properties. I love north facing properties, right? So pricing or a property, you can either put a fixed price on the property. So $1 million. You can put a 10% range, one to $1.1 million. You can run an

expressions of interest campaign where you don't have any price and you're just taking offers as they come, or you can run a best offer by campaign, best offer by the 20th of June or whatever may be, a date that's three weeks into the future or a month into the future or a week into the future depending on where your market is and the average days on market. Then you can run an auction campaign. Now an auction campaign, you can put an auction campaign with a price guide, with a price range as well. So you can have price or no price. With me, the strategy that I use for all my properties initially is no price. And there's obviously a search price in the back end engine, which is entered in so that people searching know it's sort of within their budget or not.

But I like to remove price and get them hooked on the emotion and then start having discussions with price based around Lisa, I understand you're asking about the. the price. This property needs to be sold. Okay, it's not a matter if we get a dream price we're selling or not. It's a very realistic vendor. The property's worth what the market's willing to pay. Nobody's seen the property yet, so we haven't done a open inspection. The first one's on Saturday, so I'll invite you to come through. What sort of budget are you working with, though, Lisa? And then the buyer will say, I've got up to 1.1 or 1.2. And then you can say, look, in all honesty, I think it might go a little bit over that. So I don't want to, you know,

waste your time, but you might go, you know what, if you've got a budget around there, it definitely works while coming through, you know. The vendor has asked me to sell to the most motivated buyer who's going to give the best price, but also the best conditions. So Mr and Mrs. buyer, it's not just about price, it's about conditions. Are you unconditional? Are you subject to sale? All these sorts of factors. So come along, let us know what you're willing to pay, and then what it will do is we'll collect initial offers and then I'll guide you with where you sit, first, second, third, fourth, fifth, sixth, sixth, whatever it might be. Then once we've had discussions with the vendor I can give a price indication and then we put a price guide on the

property and then we'll probably do a couple more open inspections than be sold so I know it's a be frustrating not to have a price at the moment I can send you a list of all the recent sales in the area if that's going to help you what's your email address you can use that for gathering data it might a great way to gather data and a great way to get calls now also I know as well I say to my vendors look I'm not going to put any price up and I'm not going to put an open inspection up for the first couple days because I want my phone to rent because I can tell if I get 10 or 20 phone calls we're doing well if I only get one or two phone calls we're in trouble, right?

So it's a good way to gauge things as well. But I always believe that price is derived from the property type, the position of the property, the preparation, the presentation, the preference of agent and the promotion. So that's how I work. You may think differently on price. You might be somebody who always puts a price on something. I'm not too sure.

But what's your thoughts on price, Lisa? Yeah, no, definitely. I always did a price. I prefer that. Now, the things that I used to do, and somebody taught me this when I first started in real estate, It was the best thing ever, particularly for new agents as well, is that whenever I spoke to somebody on the phone and they wanted an appraisal, I'd say, okay, well, what I'm going to do straight away for you

you, I'm going to prepare some reports. So before I come over, I'm going to prepare some reports of what's sold in the area, what's for sale and what I believe buyers will pay at the moment. So I'll go through my database and see what buyers will pay. So what sort of price range do you think your property would fall into? Would it be 700,000, 800,000, $800,000, $900,000, $1.5,000, because I haven't seen the property so I don't know what it's like and I don't want to have to come back beyond so you know just what sort of price range do you think it would be oh I don't know and I never had anybody not tell me a price ever in my you know 21 years of selling never ever had had anybody that didn't tell me a price so then that to me that gave me the the starting point of what you know

that's the price they're wanting so as I'm doing my research for going to an appraisal I'm looking around to go is there anything that justifies that price that they want right? And they forget that they tell you. They absolutely forget that they tell you. So then that's my starting point. But that's also when I'm telling them a price, I know what they're looking for, right? So if I've got to spend more time on the price, then I will. So I'll tell them, you know, as an agent, we go by what's sold in the area, what's for sale and what buyers will pay. So that's the market value. It's not what I think your property it's worth. It's what the market thinks. Because I got according to, once I said,

I think your property's worth this. And then they didn't like it. me because they thought I didn't like their property because I priced it lower. So it's always the market's telling us it's this price. So go into what's sold in the area. This is what's sold. This is where I'm backing it up with facts, right? So what's sold? What's for sale? This is comparable to yours. If you've seen this one, it's got an extra bedroom. It's got an extra garage. It's facing north or whatever. And then what buyers will pay. So at the moment I've got, you know, these buyers and if you've got your CRM and you've got your buyers in there, you can actually, you know, start to go through, not reveal their names or anything for privacy, but you know, you can sort of

go through, you know, roughly what you think somebody will pay. But then you talk about, you say, but as a seller, you're coming from somewhere a little bit different to what I am. You know, you're coming from maybe emotional value. You know, you've built the house. You know, you chose the pink cupboards and the pink carpet and, you know, you chose every tile in the property. And, you know, you chose the paint color. You chose everything. And so that's pretty emotional, you know, and you've lived here. You've had your children here. You had your child in the bath. I had one woman that had a child in the bath there. So she was very emotionally attached to the bathroom. You know, so they're coming from the emotional kind of state. Then it's what they've

spent. So you might have bought this property for $600,000 and you spent $200,000 on it. It doesn't mean you're going to get $800,000. It really depends on what's for sale, what's sold and what buyers will pay. Then the other thing a seller might choose is what they need. Okay. So just because you want to sell this property and buy the property over the road that's a million dollars, it doesn't mean you're going to get a million dollars for yours. So they're the two different ways that we're coming at at value very differently. And so you could get to justify and they go, oh, yeah, okay, I am an emotional buyer and I am focusing on what I need and, you know, all that says, and I am focusing what I've spent. So it gets the elephant out of the room. Then when you're talking about price, something I learned

from Jenman is your buyer triangle. So you demonstrate that. And I used to have that in my listing kit. I'd have a blank one and I'd say, you know, all the different ones down the bottom, the little stick figures down the bottom, if I was to put, you know, $400,000 on this property and put a little sign on the letterbox and say, House for Sale, $400,000, that's what I'm going to, you know, I'm going to get a million buyers because it's too cheap. You know, that's the developers, that's the investors. That's probably how much they're going to offer. So if we put the property in the market and we get really low offers, then that's probably these types of buyers, right? But then in the middle of that triangle is your probable price. So it's the market value. So based on what's for sale,

what's sold, what buyers will pay, market value appears to be around this price range, right? So between 800 to 900,000, based on the fact here, then you shut up, right? They might say, and you know that they're wanting 950 or something, right? And they'll go, oh, well, I thought we'd get 950 or whatever. You know, you give them a chance to vent about the price. So they might say, oh, no, I agree, or that's awesome, or, you know, whatever. You know what they're wanting anyway, because they already told you. So when they say 950, you go, awesome, because at the top of that triangle is the emotional

buyer like Bjorn. So we can promote that at 950,000 and let's see if we get that emotional buyer. And even if we get two or three buyers, like Beyond, if we get two or three buyers, it can go higher than that, you know, but the thing is that we need to kind of price it around that, I believe, in order to get the, you know, to get that interest in your property. And so that's the way that I always did it. And it was never a price shock. I never killed anybody's dreams or anything.

It was always like I was able to handle it in a very discreet way where it didn't make them feel silly. They weren't angry at me. It was, you know, it was very much an open discussion because I knew what sort of price that they were after. So, you know, we've got all of those things that we went through the seven P's on how to get the profit. And then also, you know, how to deliver that price to the own. that it's not a it's not a dream shatter it's not you know whatever and then you know then you can move forward and and you know start to market the property and all that sort of thing however you want to market it and that's the thing and to get an indication of what people are expecting

before you go out go out there so just like to look at comparables here in the four to five five to six six to seven seven to eight yeah you can go on core logic and you can type in a property address and it will give you a low a medium and a high value so I always just refer back to that and I don't say to people look I'm going to send you an automated but the automated report doesn't know anything about the preparation, the presentation, your preference of the agent and the promotion of your property. All it knows is where your property is located, so you're positioning of your property and all it knows is your property type. That's all it knows. So it's just a very mathematical figure, so it could be wrong. But what I'd

like to say to you, Mr and Mrs. Seller, is that the price, some people start with price, but let's say, for example, you go to a house and the carpets are old, floor coverings are old, the gardens looks like rubbish the roof looks like rubbish and the only goes look I want 900,000 for it and you go I'm looking at this thing and it looks like it's worth 750 by the looks of it because it looks like it's a demo job right okay oh instead of crushing the same look I think your property's worth seven million okay well let's talk about how we can try to get 900 out of the market so for starters let's talk about your presentation let's do some yard work let's let's get the roof restored that's going to cost us about

six grand and floor coverings is going to cost us about eight grand painting is going to cost us about 10 grand if you're happy to invest into the property to bring it up to look its possible best and do a full-scale marketing campaign I think there's a good chance it's going to give us the best chance of getting that 900,000 that you want right so it's not necessarily everything has a price as it is when you go there but you can give people advice on how to increase the price or how to get to that price or how to derive that price now there might be some people that you go to as well and they're underpricing their property right and so it happens the other way and you can the best thing to do is not just go, okay, fantastic.

I'm going, look, I think that honestly, you're probably being very, very conservative and I can probably get you more. I'm here to get you the best possible result I can. The market will ultimately determine the price because you've got the price that you want. I've got the price that I think we might be able to achieve, but the buyer's price, because if we've got a price that they don't like, it's not going to happen, all right? So let's talk about why are you derived from that price? How come, oh, I haven't had an appraisal for 10 years and I don't follow your property market.

Okay, well, what's happening that time is this, this and this and this. Right, so you've got to understand that we need to be liked, trusted, and show that we're competent with what we do. So the worst thing you do when you're pricing a property is just sit down, okay, Lisa, thanks having me around. Let me have to look around the property, bang, bang, bang, bang. Okay, based on recent sales, your property is worth between 1.3 to 1.4. Because if you think it's worth 1.8, nothing I can say from there is going to work.

It's all a backpedal. So you've got to have those discussions first because as soon as you crush somebody's hopes on price you're not going near that property like then they don't want you associated with that property they don't want you near that property they will ignore everything else that comes out of your mouth because you've just given them a low price

so this is where you've got to do who are you what are you looking at doing whereabouts you're looking and going when are you thinking about making you move why are you actually moving okay have you spoken to a finance broker going through their circumstances and situation to show that you actually care and that you're there to help them and then go okay well ultimately what would be your dream price Lisa?

What would be your dream price? Oh, I'd want 1.2 million. Okay, well, if we're going to try to get there, I've just noticed a few things. Let's go for a walk. Okay, well, that gut is leaking over there. So that's going to be something that buyers pick up. These carpets are stained, you know.

These are the things that people are going to pick on. So if we want to try to get the best possible price, we need to make sure we have the best possible presentation. And then you start going through your list of the seven P's. And I think always when a seller says, And even if, like, say, I thought the property was worth 750,000, and they told me on the phone, 900,000, I would ask them, look, you know, I believe when we're on the phone, you mentioned that your property might be worth 900,000. Where did you get that price from? Maybe they know something that you don't. Maybe it's zoned for development. Maybe the next door neighbor sold for 900,000 to a developer, and you don't know. You've got to ask the question. Don't just go, oh, they're an idiot. They don't know what the price is. Maybe they know something different to you. Maybe they've been offered that price. Exactly. somebody else. Now another thing if they say it's worth 750,000 and you, they think it's worth 900,000, you think it's worth 750, you can always say, oh, I didn't know there was a second story. Take me upstairs. That's a joke. You could, but if you did that with me, you'd be out of doing.

Take your sarcastic ass and get the hell out of here. That's a joke. I know. I know. Take me upstairs. I didn't know that. Yeah, but you've got to, you've got to understand that price is the most sensitive issue. So, so I think dealing with price, at the end after you've gone through all the other factors that come into play, I think once you've explained to them the whole roadmap, it's a lot easier to deal with price. If you go in there, hey, I want to know what you charge and what my price is. And you go straight in there and bang, bang, like, you're going to lose them. Because it depends on what they want.

When they say, I just want to know, I just want to know what your commission is, then you can go through these things, but it depends on the type of the property, the position, the preparation, the presentation, the preference of your agent, who you choose. the promotion what you do and the price that you're going to put it on at will determine your profit so you could have that as a thing that's in front of you when somebody asks for a price or your commission you can actually have that little thing actually i might put that down in the show notes anyway yeah one good one good good thing to tackle that as well when it comes to commission if somebody's like look mate i just want to know i know what property's worth i just want to know

what you charge right okay they're dollar-oriented i go well look i've got a fixed fee up until a realistic price right so i come out and have a look at your property we sit down and work out what the realistic price is together. Okay, up until that realistic price, I charge X. But then anything that I get over that, we work out a bonus structure so that if I end up overachieving, because you end up overachieving, if you want more, I get a little bit more. And working out bonuses.

And I've done that with those people before. I had one where it was a development site that I just recently sold, right? And the builder rings me up and goes, Bjorn, these guys are shopping around. They're shopping with Ray White. And Ray White are doing it for next to nothing. like five grand a house i mean come on you've got to be you've got to be absolutely joking me right five grand a house the desperation there anyway i said you mate no way i said no way i'm not working for that he goes man i want to do more deals with you i bought this property off you he goes i'm

happy to top you up but we we want you to sell these properties they're my first homes as a builder i need them to go really well i said well you tell these guys that they go they go full marketing they give me four and a half grand for marketing and we do an auction on one i'll sell both of them right We go full marketing. I'll do it for 7-7 per house up to 730,000. And then anything over that, I want a 20% bonus, right? Now, they agreed. I didn't go down to the Ray White price, but it was a very, very low price.

Anyway, I ended up getting 7-83 and 7-80. So, you know, the commission, the bonus, 20% of 50 grand, you know, that's decent. You know, 10-gram both. So they end up being a 17-grand commission and a whatever else commission, right? So you end up being worth my while. So sometimes when people talk about price, what are you charging commission? If you just tell them what your commission rate is that you normally charge them, you're probably never going to hear from them again.

And that might be a good thing for you. You might not want those clients. But if you do want them, give them a lower price. So look, up until a realistic price point, I'll give you a very realistic commission. It's from as low as this. But then there's a bonus structure which we sit down and work out together. And then if they hear a low price, gets you in the door, then you can add a 20% kick in top over a certain price point in south australia you're allowed to do that i don't know about

laws in other states with commissions and adding figures but there's there's lots of ways around things but ultimately a seller always wants the best possible price and a buyer usually wants to pay as little as possible the reason why i don't put prices on properties is because as soon as i put a price on a property it becomes me and the seller versus the buyer when i remove the price my mentality mind removing the price is saying to the buyers like, I use language that sounds desperate. Vendor says sell, must be sold, make no mistake, this could be the best purchasing decision of your life. So that way, a vendor wants to, a buyer wants to see a low price or they want to hear some desperation. So I make sure that there's no price on it, but they hear some desperation with

the homeowners having recently bought this property must be sold. And then what happens is they get 30 or 40 people coming at the house and then all of a sudden it's not me and the vendor versus the buyer anymore. It's that buyer versus the other buyers, right? And when they do that and you feel like you're competing against other buyers and you're not competing against the agent. One, your feelings towards the agent and the agency are a lot better. Two, your feelings towards the seller a lot better.

And it's just that other bloody buyer that was walking around with that freaking family. They're the ones that we have to have to be. And then it's buyer versus buyer. And I find in my scenarios with my work, if I've ever broken record prices, I've done it within the first week when there hasn't been a price put on it.

Because if you put the wrong price and you put a low price, you're going to be bait pricing people. And there's certain companies in Australia that really need to be pulled up and taken the asset because all of their agents bait price and they can say whatever they like, it's just bait price upon bait price.

If you put a price that's too high, then nobody's going to want to come because the price doesn't look attractive, right? So either of those two options, you can undersell the property or you can have nobody come and stuff it up. But if I remove the price and I stop dealing with somebody's logic

and then now I'm starting to deal with their emotion because emotional buyers pay more and emotional buyers what I want. So that's my strategy, and that's my working through it. This is what's great about us as well because I always put a price on because I always found that then you might attract people

that are not the right target market and all that sort of thing as well. So it's, you know, as an agent, you've got to work out what's right for you whether you'd like to put a price on or not. Like if I went into a listing presentation, I remember there was one where the owner said, oh, I know the agent's going to come back

because he didn't know what the price was. And I'm like, are you serious? I've worked in this area for 21 years or, you know, whatever it was. I know they said, I'll tell you a price right now. go through it, you know, and they were like, oh, wow, you know. So it's, it depends what works for you and what your strategy is and how you, you know, display that to the seller as well. And also, too, with pricing strategies as well, you've got to depend on your state what you're allowed to do

as well, like you said. And like some states, you're not allowed to, if it's auctioned, you're not allowed to give comparable sales and things like that. So know, know the regulations and the laws in your state. So thank you for reminding me about saying that too. For me, for me, I say to the, to the home seller, it's like starting a fire, right? The Jiffy firelighter needs to go in, and then you need the newspaper, and then you need the twigs, and then you need the sticks,

and then you need the sticks, and then you need the log. The log's what we're after, but we can't just throw a log on the fire and expect it to burn. I say to the vet's home cellar, I said, I want, like I've got a vendor, I'll give you a real life example.

And property down the road had just sold 832 about six months ago. This guy wants 950, right? I'm already at 900, which is already massive over the house and these houses were all built by rosdale homes they're all fairly much identical four bedroom two bathrooms double garage they're self-standing homes but apart from one wool being a little bit this way and one will being a bit that way they're all the same design right but he thinks that because his wool goes like this that his is different to everybody else's okay whatever that's fine that's

totally fine i said him let's remove the price do a best office campaign okay i said the mathematics says that's probably somewhere around at 850 mark market's gone up a little bit so that one got 832 I'm a better agent, so I think probably around the nine mark. Now that's where I've got offers, right? I said to him, he goes, why don't we put a price on it? And I said, look, first open, I don't want to put a price, okay? Because I know you want 950, but 950 would be like me breaking all the records, which I've done before.

But that would be very, very tough challenging. If I put 950 on it now, we might only have two people rock up to your first open, all right? I said, I want the buyer. He goes, yeah, but you'll get buyers that come through them with 800,000 and 750,000. I said, I don't care. I want them. I want them because what I want, is there's going to be

buyers walking through your house and there's going to be three or four or five them that are the real buyers, right? That are the real buyers. And I want them to see 40 people here because if they only see another four people, all of a sudden they think there's less competition. So I want the Tykees, I want the kindling,

I want the burly at the back of the boat to come. I want the little fish that I've got to throw back in the water. I want all them because I want to create an atmosphere where the buyer gets FOMO. My goal as an agent is to instill FOMO into the hearts of every single buyer that comes through your door. So the buyer that wants it will part with the highest possible price for your property. And the way that I've found the best way to do that in this market, which is a seller's market,

is to remove the price. Now, if we were in a different market type, it'll be a different strategy again. You know, auctions, like I don't believe in auctions, but in the boom, 100%. You know, markets now that are not achieving the same as in the boom, I don't really like auction. So a lot of agents will just go take away the price altogether. And I know you don't do that. You will introduce price later on, whereas some of them are like, some of them are like, no, the owner wants too much money. I'm not going to have that difficult conversation.

And I'm just going to put it to auction. And then that way, then I don't have to say the price, you know. But I agree. I like to have, you know, a few curtain raises. It might be, okay, you do it without a price. Let's have that as the first curtain raiser. Because like you said, if you put everything out there, there's nowhere else to go. It's like there's no other next step.

I would rather do, yeah, if you have it on at no price, and then you put a sign out the front, then you send it to your database, and then you put onto real estate.com and domain.com, you do your social media ads. And so it's like each stage, you're releasing more things as well, you know, and then it's like the owner's got something else

to look forward to, and it's not just like, you know, because when you first list the property, they think, you know, it might be the property. You know, if it hasn't sold in the first month, oh, it might be the property. You know, maybe there's something wrong with it. After about two or three months, It's a freaking agent.

I'm going to change my agent. The agent's the bad one, not the property. So, you know, if you give... All the price. It could be the price. Yeah, but from a vendor, you know, a vendor normally blame us, won't they? You know, with a handbrake that's getting them where they want to go.

You know, I've developed the whole system. I've developed a whole system at the price. So no price to start with. We'll do an open inspection on a Saturday. They'll be checked in the home pass. They'll get a message welcoming them to the property. They can click and get documents, whatever they want. After the open inspection, I send them another message.

And the message, and the message, Oh, I'll read it to you. Oh, I'll share it with everybody that's listening. Hi, Lisa, thanks for visiting XYZ Street today. Please see you below a link to submit any offers and interest directly via online offer form. Additionally, please follow us on Facebook to get first access to our pre-release and off-market property before they hit the major portals. Any questions, feel free to call a message myself or the team at any time. Offer link, Facebook link, and then it's just got a bit of bit about me, right?

So that goes out. Then I get offers come in. Then what I do, once the offers have come in, is I send a second message on the same Saturday after I've had a couple of offers come in. couple of offers come in. I'll send another message and it will be dear Lisa I just wanted to provide you with an update on the property showed interest in at XYZ Street. We've already received several written offers and want to make sure that nobody misses out. So if you haven't yet made an offer to make this home yours, please do so as soon as possible using the link below. Many of their homes are

currently selling after the first open because South Australia's in a booming market still and this one looks like it could also. So if you have any interest at any price at all please ensure to let us know after all if you don't try you never know what you could have got it for. So regardless of the price, make me an offer on what it's worth to you. Here's the offer form link, right? Then what I'll do is on the Sunday morning after I've had that, so I've got a full system, very strategic system. On the Sunday morning, if you've got offers, obviously. If you've got offers. And this is what's happening with all my properties here in South Australia, right? On the Sunday morning, dear Lisa, property update, last chance.

Lisa, as you already know, multiple offers have been sent through and buyers have told us that they're interested in buying the property, that you're also interested in at XYZ Street. to make sure that you don't miss out. As such, I'm planning another open by popular man demand to make sure that everyone has fair and reasonable chance. So several buyers were working Saturday and couldn't make it and I've asked to have a look through as soon as possible. Others wanted to come back for a closer second look. So this is the fairest way to ensure that no one misses out and everyone has a fair chance. I'll now be opening the home on Monday night or Tuesday night at the 30th of July at 515 to 5.40, you know, 630 by popular demand.

And given the office we already have, there's a strong chance at this possibly, possibly, could be your last chance to see the home and last chance to make an offer. I will be presenting all written offers to the current owner tonight, an hour after the open, whatever it is. So make sure you get your offer to me by no later than this time. We now have a guide price of 875 to 945 and offers are within that range, right? And this is exactly the conversation I had to you when you first rang up about, I'll guide you on price once I know, right?

Yep. So to understand this, it's not only about the price, but the best conditions for the seller that help get an offer across the line. Sometimes a seller may take a lower price if the conditions are better and the best conditions are cash unconditional. But make no mistake, this is very likely last chance. So whatever your conditions, whatever your price, please come and make an offer. Otherwise, don't get upset if you've missed out.

P.S. Here's the link again. If this one's not suitable for you, let me know what you're looking for and I'll help. So I try to be very detailed with SMS because SMS has got 100% open right. Now what I'll do is I've got five offers on the. this property now. I've then called back all the people that have made an offer. I said, look, just giving you an idea, Lisa, don't need you to give me your final offer yet. Just letting you know, sorry, just letting you know that I've got five offers on the property. Yeah. Currently at this particular stage, you're sitting in this position. However, you've got

really good conditions. Come along tonight. Let's have another look and then get me your final offer by six days. So I'm not asking for any more money now. I'm just saying, come along and see me again tonight. I just want to explain the process. I'm going to then present all the initial offers to the owner. Then what's going to happen is, If the owner is about to take an offer that's put on the table because they're like, Bjorn, I'm happy with one of those. I want to take one. Then what I'm going to do is I'm going to give everybody notification to get a best

and final offer by this day at this time. After that, you won't get, bless you, you won't get another chance to buy. So initial offers will be presented. You'll have a second chance to put in a revised offer and I'll be able to rank your offer where your office hits and have a bit more of a conversation. But you need to understand this, Lisa. I cannot tell you a price. It's not fair on me, you, the seller, the other,

buyers, any agent that's saying you need to be at this price to get the property, they're doing that with all the other buyers as well. You should stay clear of them because they're a dishonest agent, all right? So that's the way we work. Are you comfortable? Got any questions, Lisa? No, okay, well, I'm here if you need me. Call me any time up until midnight. I'll answer my phone. I'm a night out, no worries at all, all right? So I just make sure communication, communication, communication. And I explain this when I'm talking to a seller about preference of agent, right? Yeah. I had, I often get deals at 2.2% here in South Australia, for 1.1.4%. for $1.5 million when the competitors which are selling four times as many houses as

mean are charging 1.3% or 1.5%. But I explain these factors. I explain the situation. I'll explain that I'm willing to try and that this is what I'm going to do. I'm going to eliminate the price at the beginning and I'm going to guide afterwards, right? And people are happy to pay whatever the fees and commission might be if they know that you're happy to try to get them as much they possibly can. And then all you need to do is be very honest with the feedback and say, look, Lisa, I understand, but people are saying this, this, this, this and this, that's the honest feedback.

I'll always deliver you with true, accurate feedback. The good, the bad, the ugly, the beautiful, the things you want to hear and the things you don't want to hear because you need to know the truth. And that's the one thing I ask is that I can be honest and up front with you and you can be honest and up front with me because we're a team and as together as a team, we're going to get the result.

And that's how I explain how I draw out the best possible price in this current market. And I think that's another thing is to be honest. you know, agents that have got prices on properties that are too scared to go back to the seller, you pre-frame it at the appraisal or the listing and you say, look, if the house smells like cat your own, I'm going to tell you, because it's going to affect it. It's going to affect it. It won't sell if it smells like cat, you're on. I will tell you whatever it needs to be. Don't shoot the messenger, but I will pass on to you. Because otherwise, what's going to happen

is that you're going to lose the listing. It's going to go to somebody else. They are going to be honest with them. They'll get it priced at the right price. And you're going to be saying, wow, I had that for four months and they went somewhere else or three months, whatever, and they went somewhere else. But you didn't have the balls enough to tell the seller what the price of the property was, you know, and they needed a trusted advisor. They needed somebody to actually guide them. You need to be the professional. You need to know the area you're in. You need to know the property. You need to know negotiation. You need to know marketing. Yeah, and the law. Yeah. I haven't say to my sellers, look, at the end of the day, like, you can, I can give you a price.

you can look at recent sales, everything, right? They're all sold. I said, let's just cut straight to the chase, right? I'm a very upfront person. I'm going to tell you, like 98% of my business is referred to me, okay, for a reason because I tell it like it is. I go out to get dream prices. That's my job as an agent.

I try to get dream prices. I want you to tell me what your dream price is, and if I think I'm wasting my time, trust me, I've got enough business, I'm not going to take you on, okay? But if I think there's a possibility that we can get it, I'm going to go out there and get it, and I'm going to try.

But I will tell you very quickly if it's out there or not, but I will definitely try and I'll do everything I can because I could be wrong, Lisa. You could get the extra 200 grand that you want. I don't know because when I've done that, I don't lose listings over price. I never lose listings over price. My strike rate is huge, partly because of the EXP. That's why I'm winning like 95% of all business I go for is because I explain the XP difference. But the second way is because I say to the sellers, I am here to get your dream price.

A good agent is out to get a dream price. Anyone can sell a property, but I want your dream price. I want you to tell me that price. We're going to park it over here. We're not going to advertise the price, right? We're going to get the feedback through. We're going to get the buyers through. And then I'm going to give you all of the feedback from all those buyers that comes through.

I'm going to call those buyers. I'm going to SMS those buyers. I want to put notes into a system. And I'm going to give you the real feedback of exactly what they're saying. And then we determine what we're going to do from there. But I definitely want to try to get you that dream price. I definitely want to try to break records. I've done it before.

I've done it in the past and I want to do it for you. Can I guarantee it? No, I can't. There's only one thing I can guarantee, three things actually. I can guarantee that we're all going to die. I can guarantee that we're all going to pay tax

and I can guarantee that the government's always going to screw us over. They're the only three things in life that I can guarantee. Can I guarantee your price? No, I can't. But can I guarantee that I'll do everything within my power to make sure that I leave no stone unturned and I do everything I can to try to hunt for that price for you.

absolutely one million percent and go to my website, rate my agent.com and look at my reviews from my testimonials. Go to Bjorn Kundle Real Estate on YouTube and look at my reviews from my home sellers and you'll see there's several people in there talking about how I've smashed record prices. If you want someone who wants to try to go for your dreams, I'm the guy to get it. If you want somebody to go based on recent sales or property price sits between this price and this price and you're never going to get that price and you're dreaming, it's never going to happen. And if you want one of those guys, go for one of those guys. But if you want someone who believes that I can achieve,

your guys sit right. That's that emotional value. And you don't know what that is going to be. So if the seller wants like, say, a million dollars, then you can say, look, I'm happy to try that. But if we don't get that price and we need to adjust it, you can't leave it sitting there for three months or whatever, we hope for the Green Man from Mars.

You know, it's like we need to listen to the market as well. And depending on their motivation and how quickly they need to sell and all that sort of thing as well, I mean, it's such a complex topic about, you know, different ways that you do things and how to obtain that highest price. It's a whole strategy. It's a whole, you know, system like you've got. The other side is a whole system as well. So it's real life example.

Talk about this for a week. We could real life example, this guy that wanted a 950. I said, let's try. He goes, oh, then we did the photos and that goes, wow, it looks amazing with the video. Wow, we might even get a million dollars now if you want. I said, ah, what about two million dollars? So I just joked it back. I didn't, I just joked it back.

I said, look, let's get buyers through before we get ahead of ourselves. And then anyway, I've said to him, look, I've got feedback coming in as low as ain't. I've got lots of people comparing to the house down the road, but I've got this price in the high eight. I can't say it in case this gets released before I've sold. Probably, I've got this price in high eights. I've got this one in high eights. I've got this one in mid-eighths, right?

I said, so far, I don't have anybody that's talking your dream price at the moment, right? But we've had 43 groups through the first inspection. We've got five offers sitting on the property. I've got another three people expected to make offers. We've set up another inspection for Tuesday night after your Saturday. What we're going to do, we're going to put a price guide out there. We've got to put a price right range on the internet. Now, this is what's going to happen.

One of two things is going to happen, Lisa, as a vendor. One, we're going to get more people through now that we've got the price guide of 875 to 945, right? Because the top end is his dream price. we're either going to get more people through the doors and we're going to get more offers because we've already got offers in that range. We're going to get more offers and we're going to be able to try to exceed your price point.

Or we're going to have nobody rock up. No one's going to come to the Tuesday night open inspection which is 45 minutes and it's after work so there's no excuse for people not being able to get there because it's 545 to 630. Even people finishing at 530 can still get there. Right, to 45 minute open. We're going to make sure that everybody has a chopper team to come through.

So either we're going to get really busy, we're going to get a higher price or no one's going to come and we know that we should be taking one of these offers because that's the maximum market price in the market because everything in South Australia is selling within the first seven to ten days if it's marketed properly. And we've got a video out there that's already got in four days, 8,000 views, right? People have seen your property. People have seen your property. So that's what's going to happen. And then that's an easy way of letting the vendor understand the real price based on the market

feedback and knowing the strategy. Now, I've been communicating with this vendor every single day, one or two times a day, right? If you're having trouble with price, guys, it's because you're not communicating with your vendors enough. If I'm a home seller, you're only calling me after the open inspection and it's one week, two weeks, three weeks, four weeks, five weeks on the market, and just going, oh, we haven't found our right buyer yet. We haven't found a right by it. I think you're lazy piece of shit. It's not doing any work. But if you're calling me every day going, hey, we've had two more email inquiries. We've had three phone calls. I've had this, about that. that I'm going to go.

Every open house, everything. You've got to be communicating with your seller. You have to. Because then I'm going to go, as a seller, I'm going to go, I wanted that price, but, mate, this guy's all over it. Bjorn's called me before, this after, like, in the last week alone, I've had like 10 conversations with the guy. Like, it's not Bjorn.

It's definitely not Bjorn. And Bjorn, what do you think we should do? Well, guys, I'm telling you, I'll be done doing everything I can. It's the market is not willing to meet your dream. Yeah. So it's up to you. Can we turn it into a rental property? When I'm going to go for a price realignment,

I always go, can we turn into a rental property? Do you have to sell it? Can we rent it instead? Right? Do I straight away go for a price realignment? They think I want to get paid my commission. If I go down that, let's turn into a rental instead. Most time they're going to go, no, we can't.

Well, if you can, fantastic, I'll get my property manager out here. Let's look at those numbers, right? But you can't turn it into a rental. The only thing we can do is realign our price to meet in the market. It is what it is. You know, it is what it is. I can't do any more than what I'm doing. We know that, Bjorn, you've been fantastic.

Your communication has been on point. You're great. You've done a great job. You've got five offers on the property. We know it's not you. Well, it only comes down to one thing. We've done our presentation. Did we paint?

Did we clean? Did we do the video? Did we do this? We did everything you've asked me to do. The presentation is fine. The promotion is fine. It just comes down to you said that I'm doing a great job. So it just comes down to one thing now, Mr. and Mrs. Seller, which is your price.

Your price is unfortunately not out there. And that's how you get the property sold. Every agent in every other state is. jealous of you right now because you're in a boom because it's not like everywhere else in Australia you know it's sort of tightened it you know tightened up a lot you know a lot less buyers and things like that it's it's a lot tougher market Victoria's a lot tougher Queensland's still getting great prices but it's tougher New South Wales tougher so everybody's jealous of you right now with your boom so make the most of it while it's there too I get it but

I know for example when I went to Queensland the average commission was like 2.75% people are selling two three million dollar houses right guys I'm selling five six something down on the house is at an average of 10 grand comm. That's surface paradise, though. That's around here on the water, but, you know, obviously Queensland's a big place. You've got, you know, places where it's like that market too. Like Queensland and New South Wales are so diverse in price, you know.

It's sort of you've got the luxury and then you've got the non-luxury. But anyway, we better wrap it up. We've been going for an hour and a quarter now. So everything that we've spoken about here is in my real estate club as well. So that's anybody that wants extra training, the real estate club is available. It suits new agents into the industry as well as established agents. There's about 1,400 pages in the Real Estate Club. So make sure you check it out as well.

All righty, thank you so much, Beyond. Thanks, Lisa. Thanks, guys. Thanks. Thank you for listening to Let's Talk About Real Estate podcast. We hope you enjoyed the show. If you have a question about real estate, then please join the group on Facebook,

also called Let's Talk About Real Estate. For those of you who are interested in EXP, please join us at 10 a.m. Brisbane time every Wednesday morning for EXP Explained. Thank you again for joining us and don't forget to subscribe to the podcast and see you next week.