Marketing Your Property
Successfully marketing your property can assist in finding a buyer and ensure a smooth selling process. To guarantee success, the marketing strategy must utilise the important elements of: Presentation, Price and Promotion.
In order to increase value in the buyer’s mind and raise your chances of a sale, improving the appearance of your property is essential. You don’t need to spend a lot of time or money to ensure your home looks its best. A fresh coat of paint, minor repairs, de-cluttering and well maintained gardens will make a huge difference, and largely impact a buyer’s first impression.
It is a common misconception that potential buyers come into the market due to interest in a property just listed. While this occasionally happens, the majority of potential buyers (around 90%) are already in the market and actively looking to buy. It is also important to note that the bulk of enquiries generally come in the first three to four weeks of listing a property, and therefore it is crucial to get your property out there with a powerful advertising campaign. The outcome is to have your property reach as many potential buyers as possible, in order to achieve the best sale price possible.
When working with your real estate agent to establish an asking price for your property, it is important to consider the following:
- Is your property in a desirable or less desirable location?
- Is your property in good condition and been well maintained, or does it require repairs?
- Is your property equipped with modern and desirable amenities?
It is crucial that a property is priced for the market, and it is important to note that Presentation and Promotion are wasted on an overpriced property. An initially well priced property will do better on the market and result in the best outcome.