Sell your home for Top Dollar in any market - Stage 2
When marketed correctly, your buyers will expect to pay more for your home. But beware......many agents use marketing tactics to advertise themselves rather than your property sale, wasting the seller's money.
MARKETING - POINT #3
Sign Boards - are you kidding?
In general – sign boards are a waste of time and can even be detrimental to your property price.
When the agent hammers in a signboard out the front of your home with a giant photo of themselves – do you think the buyers are impressed? These agents know the board doesn’t market the house (or they would include details of the house!). They see your home sale as an opportunity to advertise themselves! This type of marketing is unnecessary and may even devalue the home to prospective buyers.
Signboards only help to sell your property to someone who is not actively looking to buy. They help notify your neighbours that you are on the market, in case they know someone who wants to move to the area. The active buyers are not driving around all weekend hoping to spot a signboard. Instead, buyers are actively scanning www.realestate.com.au and www.domain.com.au every day.
We recommend against using signboards and save yourself some money. But if you do decide to use a board, use it to display a feature that you cannot see from the street. Show the beautiful backyard or deck or pool, and include practical details and features that will help buyers know if the property might suit them.
Take away : Don’t let a real estate agent use your property sale as a chance to advertise themselves.
MARKETING - POINT #4
Open Homes - useful but unnecessary
Open Homes are completely unnecessary, and completely helpful.
The best buyers – who are ready to buy this weekend and are motivated to spend their top dollar on your home – are going to ask for an inspection. They are not going to sit silent, hoping that one day you open your home for general viewing. A quick survey of our last 26 transactions found that 22 of the winning buyers requested an inspection before the open home.
However open homes are excellent for making buyers feel pressure that they have to compete with other buyers, and therefore could miss out unless they submit their top dollar. The best prices occur when the buyers think they have to compete with each other, rather than competing with the seller.
Take Away : You do not need an open home to find the best buyers.
Take Away : Open Homes can make buyers feel like they have to compete.
MARKETING - POINT #5
Internet Advertising - fundamental to success
This must be done properly. If you cut a corner on the internet marketing, you could be losing 30 to 50% of the buyers.
The real estate websites are always changing their pricing and adding to their services. Our experience has been that most of the upgrades they offer is dubious at best. Go for the highest level of listing possible and leave it at that.
Sit with your agent and have them explain exactly exactly how each level of marketing will increase the number of qualified buyers for your home. If they cannot make a good case – run away!
Take Away: Correctly using the Internet Real Estate Sites is one of the only ‘MUSTS’ in marketing your home for sale. Do not cut corners with this.