Beware the hot market hype

Sky-high property prices are effortlessly achieved in the current market, right? Wrong. Jackson Jones co-director Richard Jones points out the dangers of believing today’s 'hot market' hype.

As the first agent to break Aura’s $1m sales barrier in February, Richard Jones understands only too well the intricacies of a red-hot housing market on the Sunny Coast.

He says: “Lately we’ve spoken to a number of sellers who were considering selling their property themselves, saying ‘the market is so hot, it’s easy’.

“Yes, the market is hot. But this is exactly why it’s even more important to make sure you chose an agent with a strategy in place to make sure you capitalise on the market heat.

“We have a proven track record and the expertise to ensure you achieve the best possible price in the market.

“Often clients come to us after months of trying to sell on their own at a certain price, and we sell within days at a significantly higher one.

“A marketing campaign is not just about putting your home up online. At Jackson Jones we only use the best photographers and videographers, and our social media strategies are tailored to target the optimum buyer demographics.

“We’re professionals at this and we will always achieve the best price, whatever the market. At negotiation time, a quality agent can make an enormous difference to your sale price.”

Trip hazards

But it’s not just the lure of self-managed sales which is tripping vendors up, according to Richard.

With listings thin on the ground, he warns that some agents are resorting to desperate measures to sign up vendors.

“We’ve spoken to a number of sellers recently who had been tempted with large discounts and over-inflated appraisals, only to find that once that agent had the listing, there was little or no sales strategy at all,” he says.

“This just leaves the seller feeling disappointed and misled.

"Unfortunately, the old saying ‘you get what you pay for’ is true.

“If you’re thinking of selling, please don’t be fooled by these desperate tactics. If the appraisal price seems too good to be true, it probably is. Ask for evidence to show how the agent arrived at the price.

“We provide a full report showing all evidence used in our appraisals so you can see for yourself how we arrive at our numbers.”

Pub talk

Yes, it’s tempting to opt for the cheapest agent in a seller’s market - particularly if the ‘pub talk’ says any muppet could sell your home right now.

But as Richard points out, entrusting the sale of your biggest asset to a second-rate operator is risky.

"If the agent is quick to discount their own fees, what makes you think they won't be as quick to discount your sale price to get the job done?” he says.

“Think about it, imagine you needed heart surgery and you had to choose a surgeon. Would you choose the cheapest one? The one who offers a discount? I’m guessing not…”

Richard Jones was named number one agent for Aura in 2020 and 2021 by Rate My Agent. He is the highest-selling agent for Caloundra West and Aura, having sold close to 300 homes over four years totalling some $150 million.