PART ONE – MARKETING AND PROMOTION
IMPROVE THE MARKETING ON PROPERTY PORTALS
Are buyers discarding your property without giving it a fair chance?
Here's a quick checklist.....
- Has the property been staged for Professional Photography?
- Are the images being rotated every week?
- Are the floorplans showing furniture to give a sense of space and how best to use it?
- Is the Summary Text short and punchy; encouraging the applicant to click on your advert?
- Are the bullet points being used to highlight specific features of your home?
- Does the Description have ‘Owners Comments’? Sharing why you bought the property and highlighting your favourite features is more sincere than your Agent’s comments.
PRO-ACTIVELY SEARCH FOR BUYERS ON SOCIAL MEDIA
The most successful agents are using Instagram, Facebook, YouTube, LinkedIn and Blogs to attract Buyers. In this guide, we’ll focus on Facebook.
- Does your property have a video?
- Does your property have a ‘Paid Advert’ on Facebook? (Not just a post)
- Who is the Target Audience?
- How much is being spent on your Facebook Advert, per day?
- What other Content is your agent creating to attract buyers; who are interested in a property like yours?
PART TWO – YOUR ESTATE AGENT
Here are a few questions to reflect on;
- Why did you choose your current agent?
- Do they know the local market?
- Are they selling similar properties?
- Did they promise lots of viewing?
- Did you over-estimate the market?
- Did you under-estimate what you’d need to sell your home?
ESTATE AGENT CLICHÉS
What does it actually mean to be a ‘Local Property Expert?’ To ‘Offer The Best Customer Service’? Or my favourite, the ability to ‘Get You More Money Than Any Other Agent’?
I think your Estate Agent needs to understand the type of property you’re selling; know what type of buyer will be willing to pay a premium price; and know what marketing and promotion you need, to attract them. And finally, keep you updated with what they’re doing and how they’re interpreting how your property is being received.
Bottom line; they need to demonstrate (or at the least give you confidence) that by the end of the transaction, you’ll end up with more money in your back pocket because you used them, rather than any other agent.
VENDOR UPDATE MEETINGS
Once you’re on the market, you should be in regular communication. At least a weekly telephone call and a monthly face-to-face meeting. The best agents will offer you weekly face-to-face meetings.
PART THREE – PRICING STRATEGY
WHERE SHOULD I SET MY PRICE?
Unfortunately, there’s no set answer to this. So you really do need to choose an agent who has a proven track record, of selling homes in your area. But remember it’s better to choose an agent who has sold their homes for the most amount of money, rather than the agent who’s sold the most amount of homes.
ASKING PRICE OR OFFERS OVER?
Another tricky question to give a general answer to.
You need to consider whether Viewing By Appointment or Open House Viewings is more suitable. Your agent needs to be confident in dealing with Sealed Bids and Best and Final Bids process, too.
There’s nothing wrong with trying a fair price and reducing your price if necessary. The trick is to make sure you and your agent is pro-active and won’t let your home go stale on the market if there are no viewings.
But don’t reduce your price too many times. It can also give the wrong impression.