Get the most from your marketing campaign

As a vendor, expect to invest in your marketing expenses, think of these expenses as an investment rather than a burden as it could potentially be the difference between selling for a premium price and selling at a discount. Gone are the days of simply placing a signboard out front and having your property displayed in the agent’s window. Your property is on the market in competition not in isolation, in order to maximize your potential sale price, selling a property has become all about effective marketing strategy.

“Your agent will still need to be a skilled negotiator to extract the best price from the buyer but an effective marketing strategy will extract the best buyer from the marketplace.”

With advancement in technology over the past decade advertising your property on the internet has taken center stage with more than 90% of Australians using the internet as their primary search tool. However this poses a problem… The average buyer will only search as far as page one! Meaning if your property is positioned on page two or three or four you’re potentially halving the amount of buyer enquiry your property should receive, subsequently resulting in a lesser sale price and a longer time spent on the market.

Don’t Rely on the Internet Alone

Although it may be a primary search tool, you still need to advertise through a number of different mediums – more interested buyers means a higher sale price for the vendor – and the secret to unlocking that hidden 10-15% premium from the market is in reaching a wider audience and creating competition for your property.

The 30 Day Rule

Your property will receive the bulk of the enquiry within the first 30 days of advertising, peaking at around day 10. It is critical that the market is responding to your property, after 30 days of being for sale your property may lose its integrity and become ‘invisible’. If your property does not receive enquiry within the first 48 hours of advertising something needs to be adjusted. This could be one of two things:

1. The advertised price or price guide
2. The presence and positioning of the property

The Emotional Connection

Effectively marketing the property will generate inspections but if there is no connection between the potential buyer and the property it will be much more difficult for the agent to extract a premium price. Emotional connection is the way the property feels as a potential buyer walks in the door, it’s the buyer imagining themselves living in the home and it’s the WOW factor. This is achieved through the presentation. While a property is on the market it is literally showcased for the entire world to see, less is more, de-clutter the entire home – this will create the illusion of more space. Re paint odd colour walls and doors (arctic white) repair any minor blemishes and consider consulting a professional stylist to assist in the presentation.

Conclusion

Professionally marketing your property will result in a faster sale for a higher price. Be sure you do your research when selecting an agent to market your property and do not be intimidated by investing in the marketing expenses, if you don’t you it be costing yourself more than you think.

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