Welcome to the May 2014 edition of our newsletter…
“Cooling real estate sales” “Return of buyers market” Regional sales volumes slip” “RB rates increase hurting market”, among various media headlines in recent weeks!
In changing times your agent’s skills make the difference in any market:
Bad market news need not apply to an individual market listing because the combined efforts of vendor and marketing agent can easily offset any underlying issue such as rising mortgage interest rates.
What steps should vendors and their agent take to focus buying interest and achieve the best result?
Our formulae for continuing to achieve price premiums under any market place conditions are simple.
i) In recognising that all markets are driven by confidence we provide all our prospective purchasers with comprehensive property details including title copy, disclosures and local authority memorandums when they first inspect the property to ensure that they have the greatest confidence that what they see is what they get.
ii) We ensure that all our properties are presented for inspection to buyers in their best possible state because first impressions really are important!
Sometimes we recommend a little TLC at cost, sometimes we even contribute a little “elbow grease” but, where our property looks better than its competition, our vendors always get a better result!
iii) Where ever possible we try to avoid buyer preoccupation with price by recommending marketing without a price. What are the advantages?
Obviously can’t be rejected for being overpriced.
Can’t be directly compared unfavourably with other listings (price is basis of comparison)
By the time the “price” issue arises, buyers asking themselves “How much to own?” rather than “Is it worth what the vendor is asking?”, which is a far more favourable state of the buyers mind!
iv) We try to tell the world our vendor’s property is available for purchase because just one extra buyer from any media exposure can add thousands of dollars to the sale price! Every survey ever conducted proves that marketing costs, prudently and effectively spent are repaid many times over, that’s why the advertising industry exists.
v) And finally we always aim to bring our buying interest together as genuine competing interests with the greatest sense of urgency at the same time on the same day!
Tenders, deadline sales or auction, chosen to match a vendor’s needs and particular circumstances are the best means of accomplishing this and my skills apply equally to all.
No need to read negative real estate industry commentary and wonder whether you have missed the bus because effective planning and marketing management still contribute far more that market sentiment to an actual market result.
Trish Harrison & Helen Flynn – Leaders Real Estate