Take Back The Power! Buyers Are Not In Charge
What is an ideal marketing campaign for selling a home?
So often when we meet sellers, they’re really interested to know what an ideal marketing programme looks like and how long is my property going to be on the market, plus the most important question: What is the best outcome I can possibly achieve?
There are also a lot of concerns going through the sellers’ head – if it sells too quickly, have I underpriced my property? I am not in a rush to sell, so perhaps it is ok to be on the market for months and months and months?
In looking at what is an ideal marketing campaign, we often explain to our sellers about how to take power back from the buyers. How, in this very competitive market place, it is essential to make sure that you, as the seller, control the marketing campaign and making sure that you are steering it all in the right direction to get best possible sale outcome.
The shift in power from sellers to buyers
By doing that, we are now looking at a time sensitive marketing campaign. This is because when you first have a property on the market, you have the most desirable shiny new property that all the buyers are interested in.
As time goes on, what actually happens is a power shift. The dynamic in the power changes over from the sellers to the buyers. The longer that you are on the market, the less desirable your property is.
The buyers will drive past and go “Oh! That property has been on for months now. There must be something wrong with it. It is obviously worth less than what they are asking for it.”
Take back the power!
So, it is important to take back the power and introduce your property to the market at a very competitive price point. We’ve had great success using the Offers Over marketing strategy to introduce a property to the market.
This is really to excite buyers in the market place and to arouse their interest and to make that property on the top of their shopping list and generate multiple offers which will push up the sale price.
The other factor that combines with pricing is always presentation.
Making sure that photographically it is interesting and appealing plus presented to the highest possible standard. We get involved with our sellers to make sure that paintwork is pristine, that there aren’t any buyer objections to people coming in, and that the furniture is positioned in a way that the property feels spacious and at its best.
Average days on the market
The average days on market becomes very important. It is essential in gauging how the marketing programme is progressing and how other properties in your market place compare.
The Property Exchange’s average days on market are about 29 days, way below the REIWA average, which is sitting at 77 days. The reason for that is that we are correctly pricing properties to make sure that buyers see them in the market place and come and look at that property and make an offer on that property rather than something else down the road.