It all comes down to ba­sics

A well-planned mar­ket­ing cam­paign, cen­tred on the right price, is the es­sen­tial fac­tor in bring­ing a property to the at­ten­tion of a full spec­trum of would-be buy­ers

The Courier-Mail - Property - - MARKET OUTLOOK -

DID you know you have a much bet­ter chance of sell­ing your property quickly if you price it to meet the mar­ket in the first four weeks of the mar­ket­ing cam­paign?

This strat­egy is much more suc­cess­ful than pric­ing it at a slightly higher price to see if some­one might pay a pre­mium, and then hav­ing to re­duce the price in a few weeks’ time be­cause no one is in­ter­ested.

Most buy­ers are very well in­formed through the in­ter­net these days, so the most im­por­tant time in any mar­ket­ing pro­gram is day one.

And it is crit­i­cal you present your property to buy­ers at the right price from the very start.

Pro­fes­sional pho­tog­ra­phy was seen as a lux­ury only the rich could af­ford in days gone by, but to­day, pro­fes­sional pho­tog­ra­phers are very rea­son­ably priced and do an amaz­ing job.

This is a very im­por­tant point, be­cause more than 80 per cent of buy­ers search­ing web­sites for property are de­cid­ing whether they will phys­i­cally in­spect a home from the pho­tos pro­vided on­line.

If your property does not cap­ture a buyer’s in­ter­est in the first few sec­onds, then you may have missed out on a sale.

In the past, some sell­ers didn’t want their neigh­bours to know their home was on the mar­ket, and there­fore wouldn’t let agents put a For Sale sign in front of the property.

But, one of the most im­por­tant seg­ments of any mar­ket­ing pro­gram is to in­form neigh­bours a property is avail­able in their area, given most pur­chasers buy within 4km to 5km of where they are cur­rently liv­ing.

Pic­ture sign­boards are also be­com­ing in­creas­ingly pop­u­lar, and can act as your 24-hour sales­per­son – sit­ting right in front of your property.

They are very af­ford­able and of­fer buy­ers a snapshot of your home while they are sit­ting in their car or walk­ing their dog.

You just never know where the next buyer is com­ing from.

But, all of these mar­ket­ing op­tions are no good if you don’t price your property to suit mar­ket con­di­tions.

Re­mem­ber, if you are sell­ing at the bot­tom of the mar­ket, you are also buy­ing at the bot­tom of the mar­ket.

Most people are gen­er­ally not in a po­si­tion to sell at the top of the mar­ket and buy at the bot­tom.

So it makes sense to ac­cept the cur­rent mar­ket con­di­tions, what­ever they may be, and lis­ten to the pro­fes­sional ad­vice of your agent to help price your property to sell.

Agents are of­ten asked why a property has been on the mar­ket for such a long time. The an­swer is gen­er­ally be­cause it was priced in­cor­rectly.

There are many ways, in­clud­ing on­line, that you can re­search the prices prop­er­ties are sell­ing for in your area.

You can also re­quest a com­par­a­tive sales anal­y­sis from your lo­cal REIQ ac­cred­ited agency.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.