News

The Quote Trap -how it affects sellers and agents with a conscience

Thursday, January 07, 2010

One of our suppliers recently took his young daughter to a childrens birthday party in Kings Park.

He got chatting to one of the other dads there who mentioned that he used to have a successful real estate career at one of the big name real estate agencies.

The question had to be asked: “Why did you leave the real estate industry if you were doing so well?”

The answer was surprisingly honest.

“I left because I got sick of all the lies. The agents who tell the biggest lies to sellers about what they’ll get, win the business. I’d just had enough”.

Ah yes, the quote trap rears its head again. Falling for it is one of the biggest mistakes that seller’s typically make. As absurd as it seems, if a home sells for any price, agents that use the quote trap still get paid.

This story is interesting because it shows that this trap not only affects sellers, but also agents who have an honest conscience and prefer to sleep well at night.

I can really relate to this because the quote trap is the main reason I got frustrated working for regular agency. But instead of leaving the industry, I created a new kind of real estate agency. One built on ethics and honesty where we are prepared to stand by the price we quote for the properties we sell.

If we don’t sell your property for the price we quote, you pay nothing (and that’s even if we’ve spent money on advertising).

If you’re thinking of selling, contact us at Walter & Irvine. We’ll explain how our ethical selling approach will ensure you sleep well at night … as we do!

Kevin Walter

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