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Chris Scullin (Lystr CEO) with Dinah \u2014 the first person to buy a property using Lystr. Photo: Lystr.<\/p>\n
Selling your home is likely the biggest financial decision you\u2019ll ever make, but it can be a confusing and intimidating process.<\/p>\n
From pressure tactics to opaque pricing and \u201cbuyer urgency\u201d that may or may not be real, the traditional real estate playbook can leave sellers feeling like passengers in their own sale.<\/p>\n
But one real estate industry disruptor says there are ways to dodge these old tricks.<\/p>\n
Chris Scullin is the CEO and founder of Lystr, a revolutionary platform that gives sellers complete visibility and control during the sales process, embracing radical transparency while still being supported by an agent.<\/p>\n
Chris says not all real estate agents are untrustworthy, but Lystr doesn\u2019t exist because of the good ones.<\/p>\n
\u201cThere are some tactics employed by less scrupulous sales agents,\u201d he says. \u201cWhether you have a good agent or bad, Lystr exists to make it a moot point. These tactics can\u2019t thrive in transparency.\u201d<\/p>\n
If going down the traditional route, certain questions can bring more transparency, starting when agents are trying to win the sale.<\/p>\n
\u201cIf you go to multiple agents for appraisals, in theory, they\u2019re working from the same market data, but you might notice fluctuations,\u201d Chris says.<\/p>\n
\u201cSome agents inflate the appraisal price. Make sure they provide a comparative market analysis and evidence to back it before locking into a 90-day contract. Once you\u2019re there, unlike with Lystr, you\u2019re a captive customer.\u201d<\/p>\n
Lystr licensee Kirsty Bohane advises sellers to ask about the expected turnaround time.<\/p>\n
\u201cAsk for their estimation of days on market to achieve the appraisal price,\u201d she said. \u201cMarket forecasts change \u2013 in what timeframe is that price achievable?\u201d<\/p>\n
Questionable tactics exist at the other end too, with agents sometimes fabricating other potential buyers to apply pressure.<\/p>\n
\u201cThat might seem great for a seller, but as top real estate coach Tom Panos says, if they are prepared to lie for you, they are prepared to lie to you,\u201d Chris says.<\/p>\n
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Lystr\u2019s most recent results speak volumes about an owner\u2019s ability to oversee the sale of their own property. Image: Lystr.<\/p>\n
Chris also advises being wary of agents who push for auctions.<\/p>\n
To start with, recent Cotality data<\/a> shows Canberra\u2019s auction clearance rates sit just below 70 per cent. But evidence<\/a> shows not all agents report auctions that were \u201cpassed in\u201d or \u201cwithdrawn \u201d (ie, were sold but did not meet their reserve), which can inflate the clearance rate above the actual market performance.<\/p>\n