OOTD: week 7 – Every open house, every week – classic white shirt and pencil skirt
Every real estate agent love a quick sale. This is part of the reason why real estate agents love auctions rather than a sale by negotiation. 4 to 6 week marketing period, then an auction where the drop of a hammer nets a 10% deposit and the sale is final. All a real estate agent has to do is wait for the big fat commission when the property settles. Less hassle. Less negotiations. Less phone-calls and emails. Easy money.
We’ve all had it good for the past few years when the boom was still in full swing. But with the Perth real estate market still stuck in a 25-year low, real estate agents are starting to actually have to work for their commissions. In hindsight I must say it is perhaps not the best timing for me to take on my FIRST EVER open house holding the listing for a city apartment. The boss probably knew it wasn’t going to be an easy sell, but he let me do it anyway. Maybe I am being set up for failure…
While all the focus is, at the moment, on the misconduct of the banking industry, the real estate industry will fare no better should it come under scrutiny (if I am allowed to be honest!). It is surprisingly difficult to get good, reliable, WRITTEN information on matters of buying and selling a property. It seems no real estate agency is willing to put their fees and contractual clauses openly on their website.
A typical real estate sale contract between the vendor and agent usually involves a 3 month exclusivity period, which, shall we say, works more in favour of the agent than the seller. If the seller is stuck with a bad agent, well, 3 months is a long time for the seller to waste. The real estate agent, meanwhile, has less to lose. Real estate agents are trained to utilise sales campaign to promote themselves and their agency to attract more future business and clients. And while we may not get the big commission at the end, there is very little upfront cost for the real estate agent as we have already charged the seller the advertising campaign fee and our little kickback from professional photography and furniture staging. While one might think things like professional photography is an optional extra, some agencies will tell sellers they cannot use any other photographs other than the agency’s professional photography as ‘it needs to conform to our agency template.’ Which is really forcing sellers into paying more upfront, regardless of whether the property sells.
Which is for this reason that even though the auction 2 weekends ago failed to attract a single bid, we are still holding on to the listing. And we have another 6 weeks before it runs out.
Briefing the vendors after the failed auction, we recommended refreshing the campaign. Taking the property off the market for one weekend while we put together a new advertising package with new photographs, we advised the vendor that we are upbeat the refreshed campaign will reach new interested buyers.
This weekend’s open house is the first of the refreshed marketing campaign, and I decided to go for a professional look wearing my white long sleeved button-up fitted shirt from Rhodes and Beckett teamed with a Review ‘Mary Beth’ pencil skirt (which I am wearing for the first time after I bought it and left it sitting in my wardrobe for months). Fans of Review will swear the label makes great pencil skirts. As for me, I have only discovered how true that is after I defected from CUE to REVIEW. Sewn in a classic fitted style in a midi length, I love its sleek and simple lines of the skirt and the decorative buttons giving it that professional look. It’s a wonder I left it sitting unworn in the wardrobe for this long!
As for the all important footwear, I decided to ditch my comfy and sensible current season NineWest pumps this weekend for something with a higher heel – my pair of Salvatore Ferragamo slingback high heeled pump. In the past my Ferragamo pumps have been reserved only for special occasions (such as weddings, for example), but I have been wearing them to the office in the past few weeks. Made in Italy and a classy statement item for any outfit, the cooling market and more importantly, competition, has made my Ferragamo pumps an essential weapon of choice for selling real estate. Desperate times call for desperate measures: I just try to ignore how the 10cm heel kills my feet at the end of each day. Or the fact that even with all the sore toes it is not quite working (yet).
When my sore feet is not annoying me, I am however, a bit annoyed at the weather. Just like the first weekend of the first ever open house, the first weekend of the refreshed sale campaign sees it raining. Why does it have to keep raining on me??!!?? Rain keeps potential buyers indoors. And rain also makes it slippery for me to walk around in high heels. But there is nothing much I can do to control the weather. So regardless, I hold an optimism like the first weekend that even the rain can’t dampen my spirits to get things going right for the next 6 weeks of the refreshed sales campaign.
Occasion: Office/ work
White long sleeved button-up fitted shirt from Rhodes and Beckett (sold out)
Review ‘Mary Beth’ pencil skirt (available here at Myer)
Salvatore Ferragamo slingback high heeled pump (sold out but very similar style available here for $975)
Nude Hosiery from Target (available here)
Tag: #openhousefashion, #openhouseOOTD, #realestateuniform, #ReviewAustralia