Whether you’re talking about a new product such as a 3D television, an updated version of a motor vehicle, or indeed the sale of a residential or commercial property one thing is certain: You can’t sell a secret.
A seller may have a property that will appeal to a large segment of buyers, but if they don’t tell anyone about it, it will be very difficult to sell. Conversely if a property is well-priced, well-presented and is marketed professionally, the right buyer will usually be found.
Some sellers may be hesitant to agree to a marketing plan for their property due to budget considerations; or for a variety of reasons, they don’t want to advertise the fact they are selling; or they may not understand the need for marketing and advertising in the sales process.
But these types of silent or secret listings are rarely successful and tend to result in nothing more than frustration for both the seller and the agent when the property remains unsold.
A professional real estate agent who understands the current market conditions will develop a marketing plan in conjunction with their client that best suits their client’s needs and budget.
A comprehensive marketing plan includes identifying which type of buyers will be most interested in the property and ensuring advertising is directed to the correct target market, which may be local first home buyers or interstate up-graders looking for a sea-change.
Other aspects of a marketing plan includes the right mix of advertising in local, metro or interstate newspapers; feature ads; advertising on Internet listing websites; and customised For Sale signage.
Sellers who list with an REIQ accredited agency will also have their home listed on reiq.com – which features more than 90,000 residential and commercial properties for sale and rent across Queensland. Listing properties on reiq.com is also restricted to REIQ members only.
An agent will also advise on the right time of day for inspections to be held to attract the right type of buyers to their client’s home, whether professional photography and brochures should be used in the sales campaign, and if the property warrants editorial coverage or letterbox drops locally.
One of an agent’s most powerful marketing tools is also their client database which can greatly increase the pool of buyers for a property for sale.
Having the correct marketing mix offers a property the widest and most appropriate spread of advertising, which in turn draws as many buyers as possible and will increase the chance of a speedy and successful sale.