Our Marketing Strategy
Seven Steps to Successfully Selling your Property
STEP 1: MAKE THE DECISION TO SELL
Although this sounds crazy, your first step in selling is deciding to sell. Many people are unsure even up to the day they list the property that they want to sell.
Make a definite decision.
Go forward with a positive attitude to success.
STEP 2: GET SOME FEEDBACK
Having decided to sell you need your agent to confirm with you the state of the current market in your area.
By providing comparable sales evidence and general market feedback, your agent will utilize their knowledge and experience to assist you in deciding what is an achievable sales price and time frame to do so. This is extremely important, as many vendors ‘tear up’ advertising dollars, waste months and deter potential buyers trying to achieve over market prices.
arket Value is defined as the estimated amount an asset should exchange between a willing buyer and a willing seller in an arms length transaction, after proper marketing, and providing all parties acted prudently, knowledgably and without compulsion. With this in mind, setting the price for your property must be fair to all parties, as an over inflated price (on the chance the agent actually sells the property) may result in your purchaser not being able to obtain finance, as the price may not support the valuation conducted by the lending institution.
his is one of the most important decisions to make when selling, and your agent should be able to assist you in setting a price that meets your needs, and is not being over optimistic.
STEP 3: YOUR AGENT IS YOUR BUSINESS PARTNER
Having done some homework you will have no doubt experienced some agents that are better than others.
Your agent is motivated to succeed for you, after all you are going into business together for a short time, and he does not receive any monies from you unless he successfully completes his task - the sale.
The agent should display – enthusiasm, professionalism, ethics, confidence, skills, knowledge and most of all a willingness to get you the highest possible realistic price.
Remember, your agent wants the same thing as you – an efficient sale at an optimized price. The recommendations and advice that they are giving you are in the best interests of achieving your goal, so if the agent requests advertising monies and an exclusive period of acting, it is so that they can achieve the maximum price in the minimum time frame for you. T
his is a good indication of the quality of agent you have acting for you, as many agents who are willing to open list your property may be playing the ‘numbers game’ and may not be pro-active in selling your property. Many people who are new or naïve to real estate practices may not be educated on the disadvantages of open listing.
STEP 4: DECIDE ON A METHOD TO SELL
In Queensalnd the three most common methods of sale are:
- Private Treaty
Auction Campaign
Tender Campaign
Private Treaty - Puts the property to the market with an advertised price. Generally prospective purchasers will make offers below the listed price and want to negotiate until a mutually agreed price is reached.
Auction Campaign - Ensures you achieve competition for your property in the market place, often resulting in the maximum purchase price. The marketing period is a set length of time, contracts carry no conditions, and there is a defined ‘cut off’ point for sale for both purchasers and the vendor.
Tender Campaign – Suited to certain distinct or highly sought after properties, whereby a marketing campaign without a price is conducted for prospective purchasers to submit their offers or ‘tenders’ that are viewed at a specific date and time. Often for many ‘tender’ campaigns, the offers submitted at tender constitute the beginning of the negotiations with specific interested parties, rather than the conclusion of the process.
STEP 5: 10 POINT MARKETING PLAN
1. Direct Marketing
As soon as we are appointed for an exclusive listing, comprehensive direct marketing is conducted from our databases. These are specific to buyers searching in certain categories such as price, location, bedrooms and land size and investment potential/rent returns. Marketing will be conducted in local databases, intrastate and interstate investors databases, and if applicable, our overseas databases. Our unique internet and club strategies, along with our affiliation with Australian Property Online help us in having some of the most up to date and accurate databases in the property industry.
2. Hot List - Buyers
We maintain an extensive list of current active prospective buyers. As soon as we are appointed to act for the property, we telephone these buyers to advise them your property is on the market for sale, and receive early market feedback and interest.
3. Maximum Impact Display Advertising
One of the core focuses of the marketing campaign is the MAXIMUM IMPACT display advertising in the Quest newspapers and the Courier Mail. You will benefit from the economies of scale and corporate discounts afforded to Your Community Realty, and the agency will formulate the advertising to draw and capture our target market, yet be as cost efficient as possible.
4. Prominent Signboard
Signboards are our silent salesperson working for you 24 hours a day. Your Community Realty has the benefit of SMS technology, and the power of providing property details by SMS to potential purchasers simply cannot be ignored, as we have recorded the date, time and their telephone number for further assistance by salespeople.
5. Marketing Brochure
To promote interest in your property and ensure retention of specific information it is essential that a marketing brochure be provided to all prospective buyers.
6. Saturation Neighbourhood "Drops"
Experience tells us that many purchasers are introduced to property for sale by friends who live in the neighbourhood. It is therefore important to selectively saturate the immediate area by way of personally delivered brochures and flyers.
7. Open for Inspection
As and when convenient, either at agreed dates and times throughout the campaign or as requested, your property will be made available to purchasers for open home or inspection. By your salesperson having an excellent understanding of your home, its features and the lifestyle benefits of your property, it will assist purchasers in making an informed, prudent decision. Our experience tells us that a purchaser is far less likely to change or withdraw their purchase when the salesperson has enforced the lifestyle benefits of the property, and the direct benefit to them.
8. Internet & E-Marketing
Utilizing the latest in technology, we ensure that all properties are advertised prominently on the internet websites www.domain.com.au, www.realestate.com.au , www.australianpropertyonline.com and www.yourcommunityrealty.com.au with full description, price, photos, contact and relevant details, which are updated on a regular basis. Your Community Realty recognises the importance of technology and identifies it as the future of the property industry, being one of the few agencies which employs a cutting edge IT division to ensure we are at the pulse of our rapidly evolving world. Some technologies that will be utilised in marketing your property are available only to Your Community Realty – Your salesperson can provide details.
9.Extra Dimension Marketing-‘Building the Dream’
Our aim is to sell your property for the highest possible price in the shortest possible time. We will combine the distinct and sought after features of your home with ‘building the dream’ for prospective purchasers. When marketing a property many residential property buyers are influenced heavily by emotional elements. The ability for a purchaser to embark on a new and improved lifestyle by buying a property is well understood by Your Community Realty, and within today’s market properties need to have that ‘something extra’ to stand out from the competition. This extra dimension will be provided to your property by our experienced marketing team, ensuring your home ‘stands out’ in the marketplace.
10. Communication
Point no 10 is arguably the most important part of the proven 10 Point Marketing Plan. We undertake to report to you on progress with all stages of the 10 Point Marketing Plan and to pass on to you immediately all comments made by prospective purchasers. At Your Community Realty, we recognise that selling a property is stressful. We aim to reduce that stress by constantly contacting you and providing progress reports.
STEP 6: LET THE AGENT DO THE JOB
By this stage in your decision you have made all the decisions, set your advertising and planned the whole campaign.
Now is the time for you to sit back, relax and watch your salesperson perform his duties. This is part where they shine for you.
Don’t hang around the home during open for inspections, keep the home presentable and wait for the agents feedback.
Many experienced agents will tell you sales are lost every day because vendors feel they want to get involved in dealing with potential buyers and unwittingly say the wrong thing, be overbearing, or begin to negotiate prices. Your agent is working for you - let them earn the sale, and display the tactful negotiation skills that have earned them a position with the company.
STEP 7: SIGN THE CONTRACTS
The day arrives the agent arrives with a contract of sale. Look at this as a positive step forward even if it is below your expectations. Buyers like to negotiate. Counter sign the offer and again let the agent do his job. He should be working for you to get you the best result. The feedback you receive during the marketing will assist you in establishing a fair market price.
Combining a targeted marketing campaign and a ‘fair market value’ listing price, our system is designed to achieve your needs and expectations.
When your agent informs you he has an offer at your desired price, sign the contract and congratulations! SOLD.
Most vendors have to start all over from here, but this time you are the buyer.
