My 3Ps for selling your property

Price

It won’t be any surprise to vendors when shopping around for the right agent that they will hear pricing being the most important aspect when marketing your home for sale. Get the pricing wrong and it can be detrimental to the sale of your property. A lot of new agents will often overprice your property in order to win your business. However, this tactic can in fact have devastating effects. Price a property too high and not only will you discourage buyers in viewing the property, it may also never achieve a sale or end up being sold for a lot less due to the listing going stale. Buyers expect a discount once the property has been on the market for a lengthy amount of time.

At the same time, an agent must be very careful not to undersell a property. Navigating this balance is tricky and takes an agent who is prepared to walk the extra mile to get this right. Understanding exactly what the local market is doing and current demands on the property type is crucial.

A good agent will be getting an emotional price which is normally 5%-30% the logical price or the price a valuer may have on the property. In order to get this 'emotional price' the next two points must be adopted.

Presentation

My definition of this may differ from other agents’. To me presentation is not only the street appeal and internal decoration of the house but also how it is presented in advertising. Staging your property is an effective way of presenting your property but not necessarily the most practical or cost effective. Many agents recommend staging without offering any other options which can make a vendor feel obligated to go down this path. Consultations with interior decorators and simply hiring or buying some soft furnishings can also have a positive impact – please see my blog titled "The winning team" for more on this topic. Whilst presenting your home in the best possible light will attract more buyers to your property, it is also how you attract the right buyer to see your property when they are online. Social media campaigns and very importantly video are very effective ways in reaching buyers that may not be able to be reached via the conventional print and standard real estate online sites.Carefully identifying who your target buyer market is and tailoring a campaign involving a variety different promotional channels will greatly assist in starting off on the right foot and attracting the right kind of buyers who are in the market for a property like yours.

Potential

What kind of potential does your property have for a prospective buyer? Is there an ability to extend? Does it have subdivision capabilities? Is it an investment potential yielding high rental returns? Will the property be falling under a new school catchment soon? Spending time identifying the potentials in your property and ensuring prospective buyers are made aware of them will almost always greatly increase the interest in the property and increase the pool of buyers.

By following these simple 3 steps, you and your agent will be positioning your property ahead of the competition.

Contact me if you would like to discuss marketing your home for sale further - Sinead Gliddon 0401 164 940