How values influence property outcomes

There are so many tactics and tips out there when it comes to selling your home, knowing the property market or finding the right agent – but have you ever considered how our core values might affect the outcomes of a property sale? Stay with me for a moment…

I grew up in Wellington, a country town with a close-knit community. I spent most of my days at school, learning the value of teamwork and then working on the farm after school, learning the value of hard-work and being hands-on. Being one of four children in our family, I was expected to contribute and pull my own weight so-to-speak – the whole was greater than the sum of its parts. I relocated to Sydney when I was 13 years old to attend boarding school – it taught me how to collaborate with others, support myself and gave me an appreciation for what my family sacrificed to send me to a good school and invest in my future.

It’s these values that drive me to take or not take certain actions. It’s the same for everyone. Personal values are the things that are important to us, the characteristics and behaviours that motivate us and guide our decisions. Watch what people do (not what they say) and you’ll understand their values.

So, what does this have to do with property sales? Ultimately, values determine what we focus on – and what we focus on during the process of selling a home directly determines the outcome of that sale.

If someone values relationships, they are going to put genuine effort into spending time with people. They won’t treat buyers and sellers like numbers, they’ll go out of their way to connect, understand and apply themselves to the service of that relationship. Their relationships will continue well beyond the transaction. Similarly, if someone values recognition more than relationship, they’ll do things differently. They might outsource the relationship to someone else – showing up for the parts that bid recognition but stepping away for parts that go unseen.

Let’s look at values in action across the key areas of the property sales process:

Determining the market

• Empathy and wisdom precede better insight, knowledge and awareness of the market and their needs.
• Valuing quality over quantity leads to more connected, face-to-face interactions with the right buyers, versus trivial touchpoints with countless buyers. It leads to specialisation, focus and genuine understanding of who the buyer is at a human level – not as a statistic.
• Being present and committed to the relationship, not the transaction, leads to an authentic understanding of the buyer and what is going to really serve their needs and wants.

Understanding the home

• Foresight and curiosity drive a deeper understanding of all the finer details of a home. Time is invested to uncover the story of the home and how it was constructed, to know the quality of all finishes and what it would cost for upgrades, and all of the unique features and benefits that you can’t necessarily see. This understanding builds trust and enables honesty in the sales process.
• A property isn’t listed and then handed over when service and relationship are valued. The entire experience is led in a hands-on manner with care and detail. By remaining present, the agent is able to see possibilities that otherwise would have been missed and amplify the true value of a home.
• Valuing collaboration means working together to ensure a great outcome. Humility produces value in that everyone is serving the outcome rather than egos. Databases are genuinely shared, connections are made and there is a cross-pollination of ideas. Like I mentioned earlier – the whole becomes greater than the sum of its parts.

Pricing the property

• Valuing integrity over recognition means a lot of thought will go into pricing the home valuably and accurately.
• With a deeper understanding of both the market and the home mentioned above, the agent becomes more aware of the true value of a home and can therefore price the property effectively, leading to less time on market and better results.

Preparing the home for sale

• Curiosity means plenty of time is taken considering and creating an approach that will enhance key aspects of the home to serve the buyer.
• A drive for quality and service means leading the process meticulously behind-the-scenes to produce ideal imagery, storytelling and content that are going to get the best result for the client.
• All aspects of preparing the home to foster a positive first impression will be managed proactively. First impressions are very powerful and hard to refute. Subconsciously, a buyer develops a positive or negative impression of your home before they even walk through the front door. For the remainder of the inspection, their subconscious is constantly looking for proof points that validate their first impression. This is why working with a very detailed and clear buyer profile is so important.

Method of sale

• Valuing wisdom and judgement leads to better decision making when it comes to method of sale. Time is taken to consider context and experience is drawn on to determine the best approach. Should the house be auctioned? Should we ask for expression of interest or not? Will appointment-only enable a better experience? Alternatives will be evaluated with a perceptive and experienced eye.
• Likewise, when the relationship comes first, listening to the owner and what would best serve their needs (not just the sale price) becomes equally as important.

Buying or selling a home is a big life decision with a lot of unknowns. The best outcomes are always a result of people working together, genuine connections being made, true presence throughout the sales process and drawing on a deep understanding of the market, the seller and the home. This is only possible when the right values are at play.

Geoff Smith, Director
Ray White Lower North Shore Group
geoff.smith@raywhite.com
0418 643 923