Hudson Bond Real Estate Publication - Issue Three
Skilled agents
earn strong praise!
Professionalism,
integrity and good
old-fashioned service
win accolades for
Hudson Bond
Real estate agents use many
benchmarks to try to prove they are the
best so that they can win new business.
For example, some agents boast about
how many sales they have made and the
prices they achieved, hoping to impress
prospective clients with their track
record.
However, when it’s all said and done
it’s really what an agent’s clients have to
say about them that matters.
Sales Manager, Danny Demir with
happy homeowner, Emily Hoysted
and her two young children.
One agent who has a strong claim to
being among the best is Hudson Bond
Real Estate. The Managing Director of the
agency, Paul Kounnas, has been in real
estate nearly 30 years. He and his team
have a strong commitment to the highest
standards of integrity and customer
service.
Continued on page 2 >>>
IN THIS ISSUE OF • Agents win clients’ support and loyalty
PROPERTY NEWS • Avoiding bait prices
Clients thrilled with
first-class service
It is that commitment which has
consistently earned him and his
colleagues praise from Hudson Bond
clients. Recently, client Matt Hoysted,
wrote to Hudson Bond Sales Manager,
Danny Demir, praising him for his
outstanding service.
children, keeping the house in its most
presentable condition can be difficult
especially when I was not home to assist
during the week. However, knowing that
this was being done for targeted buyers
and not tyre kickers, made the effort
worthwhile.”
In his letter Matt told Danny: “Upon
reflection, it has been over 10 years we
have been using Hudson Bond to assist
myself and Emily in property transactions.
It all started when you assisted Emily
in purchasing her first home in High St,
Lower Templestowe. This was a wonderful
home which she shared with her two
brothers and me.
Other clients who have been
impressed with Hudson Bond Real
Estate include Andrea Selleck and Kevin
Fleming.
“Soon after, you assisted Emily in
the selling of her family home in Mayfair
Avenue after the passing of her mother.
As you can imagine this was a very
difficult period for Emily and her brothers,
but with your professionalism and the
support of the Hudson Bond sales team,
you made this process efficient and easy
for them.
“And finally after 10 wonderful years
in our High St property where Emily and
I got married and started our family,
you assisted us in selling this. I must
commend you on your philosophy of only
showing the house to targeted buyers.
“As you can imagine, with two young
Letter
from the
Editor
They bought their family home through
Hudson Bond four years ago and then sold
it through the agency earlier this year.
It is unusual for people to both buy and
sell through the one real estate agency.
However, Hudson Bond is the type of
company that commands strong loyalty
from its clients and the agency often
enjoys repeat business from customers
who have been very pleased with its
service.
After the company sold Andrea and
Kevin’s home, Andrea wrote to the firm
expressing her gratitude for the way they
had handled the sale.
She wrote: “I would like to both thank
and commend the Hudson Bond staff
for the fantastic job they did in selling
our home recently. In particular, I would
like to thank Sales Consultant Steve
Dear Readers,
Welcome to our July issue of Property News.
Consecutive interest rate increases together
with the government’s introduction of the new
super tax, a volatile share market and a fall in the
Australian dollar have finally eroded consumer
confidence.
The property pendulum has swung back
towards a buyers market. The days where crazy
prices were being paid are over. Instead of five
or six buyers competing in a frenzy for the same
Lazaridis who once again exceeded
our expectations in terms of service,
professionalism and kindness.
“Steve was the agent we dealt with
when we purchased our home in Ben
Court four years ago and we were so
impressed with the way he conducted
business with us at that time that we
did not even consider using the services
of any other agent when it came time to
sell.
“We were strongly advised to at least
obtain quotes and advice from other
agents when we discussed our intention
to sell with friends and colleagues - a
naturally prudent choice on anyone’s
part.
“However, so great was our faith and
trust in Steve that we did not give our
choice of agent a second thought. We
wanted Steve and we knew he would
do everything within his power and
considerable experience to assist us. We
were not disappointed.
“Steve went well beyond the call of duty,
both in the period leading up to selling,
where he assisted us with appropriate,
realistic and relevant advice customised
to our circumstances and preferences, to
well after the sale was completed, when
he remained in touch to ensure we were
happy with our new arrangements.
property we are now getting only one or two.
House prices were growing at an
unsustainable rate. Prices in any market rarely
move only in an upward direction. They reach a
point where they change direction. So after the
unprecedented growth we recently had, don’t
be surprised if house values start to fall.
However, properties that are priced correctly
will continue to sell well.
Best Wishes,
Paul Kounnas
751 Doncaster Road, Doncaster VIC 3108
P: 03 9840 7700 F: 03 9840 7600 E: [email protected]
www.hudsonbond.com.au
Disclaimer: This newsletter is not to be treated as advice! Neither Paul Kounnas, Hudson Bond Real Estate nor Newsletter House Pty Ltd accept any form of liability, be it contractual,
tortious or otherwise, for the contents of this newsletter or for any consequences arising from its use or any reliance placed upon it. The information, opinions and advice contained in this
newsletter are of a general nature only and may not relate to or be relevant to your particular circumstances. There are many issues involved with buying and selling real estate so it is important
that you get specific advice prior to making any decisions on your next real estate transaction. ©Newsletter House Pty Ltd 2010 Ph: 02 4954 2100 www.newsletterhouse.com
Exceptionally high standards
of integrity earn the respect
of owners and buyers
“A true cradle-to-grave
service ethic. The rest of
your staff that we dealt
with during the period of
the sale, particularly Sales
Consultant
Joseph
Yap,
should also be commended
on their professionalism, their
commitment to the job at
hand, and the basic courtesy
in the way they interacted with
us.
“They made the whole
experience far more pleasant
than we ever expected it to
be!”
Andrea said true customer
service was rare these days
and it was a great credit to
Paul and his team that they all
personified it so completely.
In her letter she told Paul
she would never hesitate in
recommending Hudson Bond
to buyers or sellers and she
remained grateful for the
opportunity to have dealt with
Steve on both a personal and
professional level.
“He is a really fantastic
guy and a great professional,”
Andrea added.
However, this was not the
first letter Andrea had written
to Hudson Bond praising
the company. When she and
Kevin bought their first home
four years ago she wrote to
Paul expressing the couple’s
gratitude for the exceptional
service they had received.
In her letter Andrea wrote:
“Recently, my husband and I
purchased a property, with the
assistance of Sales Consultant
Steve Lazaridis.
“We would like to take
this opportunity to thank and
commend Steve and the rest
of the staff for their assistance
with this purchase. We were
delighted with the house, and
particularly appreciated how
easy Steve made the process
for us.
“We had been looking for
a property for some time and
had dealt with a number of
different real estate agents.
Most of these agents had
a strong customer service
focus, however, in the case
of Hudson Bond there were a
couple of exceptional issues
which we believe are worth
mentioning:
Steve Lazaridis, Senior Sales Consultant,
with Andrea Selleck and Kevin Fleming.
“Steve took the time to
review our needs, very quickly
established our requirements
and our price range, and did
not waste our time showing
us properties that were
unsuitable or out of our price
range. He was incredibly
obliging and nice to deal with.
“He was honest in his
appraisal of the property,
highlighted the positives
and
the
areas
where
improvements could be made,
and did not attempt to distract
us during our inspection of
the property.
“While we understand
that your primary concern is
the vendor, we felt that Steve
also worked hard to help us
purchase the property. We felt
very much that he genuinely
wanted to assist us, and was
happy for all parties when the
transaction was made. He did
not hassle us or pressure us
to buy, and we had the distinct
impression that he was honest
with us when advising of other
interested buyers.
“We would have no
hesitation in recommending
you to any potential sellers we
know, and in the event that we
ever wish to sell the property,
Steve (if he hasn’t retired by
then!) will be the first person
we talk to.”
Such praise is fulsome
indeed and rare in the real
estate industry. So, if you
are planning to sell or buy a
home, contact Hudson Bond
Real Estate for professional
advice and only the best
service and the highest
ethical standards.
Are you selling for the right price?
Danny
Demir
Sales
Manager
Steve
Lazaridis
Senior
Sales
Joseph
Yap
Senior
Sales
John
Kendirian
Senior
Sales
Barbara
Love
Senior
Sales
Kathryn
Lau
Senior
Sales
Serge
Angilletta
Sales
Support
Ille
Bui
Sales
Assistant
Sophie
Stuart
Kounnas
Cooper
Administration/ Administration
Public Relations
Jason
Kounnas
Property
Manager
How to avoid the bait price trap!
“BAIT PRICES HOOK SELLERS MORE
THAN BUYERS.”
Price Ranges are ‘Bait’ strategies which
use a false low price to attract buyers.
The Price Range method comes in a
variety of names - By Negotiation; Offers
Above; Price Guide. They are all similar and
they all undersell your home.
The agent will say that “lots of buyers”
will be attracted by this lower price and
then willingly pay the higher price.
Bait prices, which are supposed to
hook buyers, actually hook sellers into
underselling their homes.
‘Price Ranges’ have quickly fallen out
of favour as most homesellers are quick to
realise that buyers are not so gullible as to
fall for such a transparent trick.
Agents who suggest using a Price
Range are not skilled negotiators. If they
were, they wouldn’t use such a financially
damaging strategy.
TWO BIG REASONS TO REJECT ‘BAIT’
PRICES
There are two reasons why you must
never allow an agent to display bait prices
for your home.
The first reason is that the lowest price
the buyers see is the highest price they will
want to pay.
How would you feel if you saw a home
advertised with the words, ‘Offers above
$760,000’, - would you offer $900,000 just
because it is “above” $760,000? Of course
not. You would look at the $760,000 and
do what most buyers do - offer $760,000.
Or a price close to it.
The second reason you must avoid bait
prices is that most of the buyers you attract
will only be able to afford the lowest price
displayed.
If a buyer has a maximum limit of
$760,000 and sees your home advertised
“from $760,000 - $850,000” (when you
want $900,000), the buyer is going to be
attracted to your home. You then have a
buyer who cannot afford to pay what your
Are you looking to
lease your property?
home is worth. It makes no sense - unless
the agent intends to talk you down in price,
which is precisely why agents use ‘bait’
prices.
One of the principles of negotiation is
that the person you are negotiating with
should be able to afford what you are
selling. If you want $900,000 for your
home, the first thing you want is a buyer
who can afford $900,000. It’s such an
obvious point it is amazing so many agents
don’t see it.
Paul Kounnas of Hudson Bond Real
Estate told Property News, “The most
blatant example of bait pricing is when a
property is passed in for more than the
price range the agent quoted to buyers.
This is an extreme but common example
of bait pricing. In such instances all underbidders should demand a refund from the
agent on any expenses and/or report the
incident to Consumer Affairs Victoria.
ACTIVITY TRAPS
Agents claim that the more buyers who
are attracted to your home, the better it is
for you.
But what would you prefer: dozens of
buyers who can’t afford to buy your home
or one buyer who can?
It would be fairer for the buyers and
more prudent for the sellers to disclose the
reserve price from day one of marketing.
That way only buyers who can afford to pay
the sellers price will bid.
The quality of the buyers is much more
important than the quantity.
Agents want you to see lots of activity
because it makes it easier to convince you
to lower your selling price.
The agent will say, “Look at all these
people who have come through. The reason
they haven’t bought your home is because
the price is too high.”
Or, when crowds of people who cannot
afford the price you want are looking at your
home, they will offer what they can afford.
And then the agent will say: “The buyers
are all telling us that the most they will pay
is $800,000. This is what the market is
saying. You have to meet the market.”
It is the same as the Auction System your agent is looking in the wrong market.
If your home is worth more than
$900,000, your agent must show it to
people who can afford to pay more than
$900,000. This will mean less crowds
and less activity. But at least you won’t be
under-sold.
The crux of the bait pricing issue comes
down to two questions. What price did
the agent tell the owner to expect for the
property? Secondly, what price is the agent
advertising the property and quoting to
buyers? In many cases, the price the agent
markets the property to prospective buyers
is far lower than the price they told the
homeowner when they were competing for
the listing.
You won’t receive the highest price if
you are attracting the lowest price buyers.
Do not fall for this activity trap.
TIME AND PATIENCE
When your home first goes for sale, the
right buyer may see it immediately and pay
the highest price on the spot. This is great
news; it is one of the best things that can
happen to you.
But, if your home does not sell in the
first couple of weeks, you may have to wait
until your agent finds you the best buyer at
the highest price.
Some homesellers get agitated unless
lots of people inspect their home. But it is
better to have silence and wait for the right
buyer at the highest price, than activity and
sell to the wrong buyer at the lowest price.
It is a basic principle of marketing that
you must market your product to buyers
who can afford it. If not, you can easily be
forced to sell under pressure at a lower
price.
The Hudson Bond Property Management team are
committed to protecting your investment and obtaining
the best possible return for you.
If you would like to rent your property please call our
property management team today 03 9840 7200.
View properties for lease at www.hudsonbond.com.au