24th February 2021
Keep the sales flowing: how to save a withdrawal
So, you’ve worked hard to win a listing and done everything you can to attract viewings, but now you have a seller on the phone telling you they’re withdrawing their property from the market or moving to another agent.
We all know it’s the most frustrating conversation you can have with a seller – but with these easy tips (and a little bit of help from SDL Property Auctions) there is usually a way to turn that withdrawal into a quicker, more secure, sale.
Here’s a few scenarios your seller might be experiencing, and some suggestions about what you can do, and how we can help. As you’ll see, more often than not, a potential withdrawal is actually a sign of a well-motivated vendor, which makes them perfect candidates for auction.
Looking for a fresh approach
We all dread those conversations with a seller who’s asking for more and more, and starting to threaten a move to a rival agent. As an agent it’s easy to feel as though you’ve exhausted all options, and like you have nowhere to go except asking the seller to consider lowering their asking price with you. Even worse is when they move to that rival agent, with a reduced asking price, and inevitably attract the interest you knew they could!
Working with your auction department at SDL Property Auctions, you can avoid that eventuality by offering a completely fresh approach, presenting their property as though it’s new to the market, refreshing it on Rightmove and reinvigorating the listing while retaining your fees. And even better, you can position a price reduction alongside the bonus of zero fees for the seller, with auction fees paid by the buyer. That way you save the withdrawal, the listing is refreshed, and the seller doesn’t have to lower their expectations. Win win!
Time on the market
With many sales now taking 6 months or more, it’s understandable that sellers become twitchy and begin to question whether now is the right time to be marketing their property. With a fixed timescale to completion, potentially as short as 30 days, selling through SDL Property Auctions could enable you and your seller to feel in control of the process, and sure that it will come to a happy conclusion in a reasonable timeframe.
Disappointment at a recent fall through
It’s a horrible feeling for both seller and agent when a buyer pulls out before exchanging contracts, but it’s even worse for the agent when the frustrated seller decides to pull out of the market altogether out of frustration, or a lack of trust in the process. Again, your auction department with SDL Property Auctions can provide the answer. Not only can you offer that fixed timescale to completion, but you can give your vendor the reassurance of a less than 1% fall-through rate, and a non-refundable deposit from the buyer. The certainty and legal protection auctions can offer is a world away from the empty promises your buyer or sellers might have fallen victim to in the past.
So often, a seller looking to withdraw is a sign of their increasing motivation, simply looking for a way to get their property sold quickly and securely. That’s our speciality at SDL Property Auctions, so get in touch today to find out more about how we can keep sales flowing for you and your sellers. Talk to us about how we can save your withdrawals.