Success in the property market hinges on just a handful of key factors. The right price, the right strategy and the right agent who understands the local area – these are the non-negotiables if you want results.
Price your home correctly: Take your time to understand the market before you speak to agents. Remember price is everything. Go too high and no one will buy. Research what is happening directly around you in the market today and then consider market demand (is your price bracket selling quickly?).
The biggest mistake owners make in pricing their home is they think their property is better than everyone else’s and expect the market to love it as much as they do. Buyers start logically and finish emotionally. The first thing you have to do to logically attract the market is make sure the criteria of your home matches what other similar properties are selling for. Then buyers will come.
Have a marketing strategy: These days many owners just want to use the internet to sell their home. This is not a strategy, it is merely one tool of the trade. Buyers come from all different places and if you want the best buyer and the best price, you must cover all your bases. You only get one chance to sell your property correctly, so have every marketing channel working for you from day one. The best multi-pronged approach includes internet, print advertising, neighbourhood campaign, database plan, signage, professional photography, editorial, open homes and the absolute best agent working for you.
We aren’t all the same: The right agent can make a massive difference. Sometimes owners pick an agent because they like them, which is fine but the question owners should ask themselves is “what does this agent bring to my sale”? The most important function of an agent is their service levels and their skill set.
Engage an area specialist: Use an agent that knows the area. Just because you might know someone in real estate, don’t use them to sell your home if they work in another area. They will have no idea how to build value in your home because they don’t know anything about the recent properties that have sold (they might know the price, but they won’t know what the home offered or the story behind the sale). Use an agent who specialises in the area, works in the area and loves the area.