How estate agents REALLY market your
property
Many people believe that all estate
agents are the same. I can assure you we are most certainly not.
Yes, in principle, estate agents use
the same methods to sell your property, but this is where the
similarities end. Most estate agents will tell their clients that
they employ bespoke marketing campaigns and some specialised
techniques to sell your homes.
Usually it's utter rubbish.
If you were to visit Rightmove,
Zoopla, Prime Location etc and pick out a few properties that the
agent is selling and then go and ask the sellers how good these
bespoke campaigns and techniques are, you'd find a withering
response. In fact, tell the agent you'll be doing it and watch their
face drop.
It's common knowledge within the
industry that around 95% of all properties are sold via the internet and ‘For Sale’ boards are the best form of advertising for an estate agent. The old method of press adverts died
many years ago, despite what many agents would still have you
believe.
Contrary to popular belief, there are
only three principle elements to achieving a successful property
sale.
1) How your property is presented and
marketed
2) Getting your asking price right
3) Demand
Presentation of your home is crucial to
achieving the top price. If you're not prepared or able to invest in
making sure your home stands out in the marketplace, you'll struggle
for a long time to sell it.
Equally, how your estate agent markets
your home and the amount of exposure to potential buyers is equally,
if not more so, as crucial. For example, luxury homes for sale in Cheshire aren't found in the local papers, free door to door
magazines or via social media. Those looking for luxury homes in Cheshire will either look on the big property portals, have an
estate agent that keeps them “in the know” or remembers seeing a
tweet, photo, branded car, business card of an estate agent that
sells luxury homes.
If your estate agent doesn’t list on
the portals or have a strong web presence and or both, my advice is
to drop that agency. If you’re already on the market with an estate
agent that doesn't do the above, I would advise you to seriously
consider switching estate agents.
The reasoning is simple. If your estate
agent cuts corners by not exposing your property on the property
portals, doesn't have a strong presence on the major social media portals and a high quality customer service attitude they are not
maximising your property to the majority of potential buyers.
It’s hard enough trying to sell your
property in today’s tough market, without employing an estate agent
that cuts corners and the irony is that these agents usually still
charge the same level of fees as us better agents.
Is the price right?
We all think we know the value of our
property but fact is we haven't a clue. A home is only worth what
someone is prepared to pay for it, anyone that says or thinks
differently is a liar or a fool.
At Britain's Best Home, if a
potential client thinks their home is worth considerably more than
we've valued it, we are willing to walk away and recommend the home
owner seek a different estate agent. We're not in the business of
passing over clients but we'd rather have a home we know we can sell quickly than a home sat on our books with a vendor screaming that
we're doing nothing to help sell and wasting precious man-hours.
A good estate agent will know property
values in your area and have an understanding of the local market
forces. At Britain's Best Home, we give an honest valuation
based on the local market, location, size, fixtures and fittings and
most importantly, demand.
Demand
If the homes in your price range aren't
moving, there's absolutely nothing you can do to stimulate a sale.
The luxury home market is trickling along outside of the major cities
and so it's about location, location, location.
We know of country home that was on the
market at £5 million for over two years without a single viewing.
Then, owing to a luxury home development and the sudden influx of
“celebrities” renting and or buying the properties, the viewings
went skywards and it was sold circa £6 million within six months of
being relisted.
Gimmicks such as a free holiday, car,
school fees etc are great for getting the attention of potential
buyers but let's be honest, if you're in the market for a luxury home
costing £2-3 million would a another car in the garage or a cheap
holiday to Florida really sway your decision? I think not.
Oh and that’s it. That’s all there
is to it!
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