When you bought your first property, there was a purpose. It was the perfect property for you and there was an immediate connection.  Now you are the seller. But stepping into that old hat again and being in the buyer’s mind can help you be at the top of the selling game.
Expert property sellers are those who have a deep understanding of the market and how to best sell it. All properties are not created equal. Today’s buyers are looking for properties that feel right.
Know your client and your property
Which property type should you sell? You want it to be an apartment on the fourth floor in the heart of the city. A desirable suburban home on two floors. It is brand new, modern, or in desperate need of some TLC from its new owners.
A simple SWOT (strengths, weaknesses, opportunities and threats) analysis can help you pinpoint the unique selling points, ‘wow’ factor/s, problem areas, and standard features of your property, which would be most suitable and appealing to the discerning buyers.
A terrace of four floors would not be appropriate for a couple 60 years old, but a ground-floor apartment in a courtyard would suit them perfectly. A top-floor apartment that does not have a lift is ideal for young couples.
Property staging and presentation
You should think about the markets that are most likely to buy your property. Look at the property’s features and characteristics. It is now time to make your property fit the market. Here’s what to consider:
A good first impression is key to selling your property. The goal is to make the property attractive to potential buyers and to establish an emotional connection between them.
You should ensure that the property is clean and tidy. This is on every buyer’s checklist, whether they are newlyweds, a young family, empty nesters or retirees. Most buyers don’t have the patience or time to look at a dirty, filthy, or stale house – unless they find it appealing or are investors. They will have likely seen many properties and will continue to see more. Property viewings last around 15 minutes, so it is crucial to find the unique selling points as soon as possible.
Furnishings/decoration should appeal to your targeted market. Keep it modern if you’re eyeing a young market. Your real estate agent can help you rent contemporary furniture and artworks if necessary. Play upbeat music during inspections. Alternatively, if targeting empty nesters, you can get away with older-style furniture & traditional paintings. Set the table during winter and light the fireplace to create a homey feeling. Put fresh flowers in the spring.
Reduce clutter and keep furniture as minimal as possible. This allows for greater movement within the house and for buyers. This is because buyers who want to decorate their homes, especially those looking to purchase unfurnished properties, are more likely to do so. Buyers won’t be able to visualize their ideas or play with interiors that are too furnished. It is a good idea to hide family photos and personal mementos in drawers. Put any furniture, even broken, in a designated place.
Keep the property empty during viewings. Potential buyers might be distracted by owners/tenants who are at the property.
Create an ambience that says “this is for you” but make sure it also appeals to a cross section of market segments. The wider you appeal to, while showcasing the property’s wow factor, the higher chances of a sale.
Promotion of your property
The key to remember here is not to ‘tailor’ your promotional avenues. Make sure to promote your property via as many channels and media outlets possible. Market wherever possible to increase your chances for success. It’s like fishing with a net compared with a fishing line. The best and most lucrative avenue is however, the internet.
It’s the photography and advertising copy that should be tailored to your market. Agents will employ professional copywriters as well as photographers to capture the images.
Your agent will help you choose the right media and marketing communication tools for reaching the most people. Alternatives to listing online on different real estate websites are mail outs and classified ads. PR (public relations) is a way to increase credibility and real interest. This is an excellent option for unique properties.
The most effective advertising copy addresses the buyer directly (“you” and “your). No matter who your target audience is, potential buyers will feel that the advertisement speaks directly to them (“you”), and they will be more inclined to respond than those who use impersonal terms.
It should contain enough information to persuade potential buyers to sign up to view the advertisement. Don’t reveal everything, so the excitement or surprise continues in the actual viewing.
Open houses and online auctions
When you are looking to sell your property, there are many reasons why open houses and auctions might be the best option.
Open houses can be a good option if you have the time to schedule multiple viewings, and then wait for the most financially sound buyer. Open houses are a great way to get as many people as possible to inspect your property. However, it is crucial that the agent interacts with the target audience and answers any questions they may have.
Auctions are a good option if the seller needs to sell quickly, or the property is difficultly valued.  It might be easier for wealthy buyers to skip lengthy viewings.
Delivering marketing promises
You don’t just need to get buyers to your open house or auction.  Fulfilling marketing promises and meeting client expectations can make or break deals. Your marketing communications must clearly communicate to buyers your unique selling propositions. If your marketing has highlighted child-friendly living areas, make sure there are no dangerous or fixed furniture that could contradict your claims.  It is frustrating to not receive what you promised in your advertising.