Marketing Your Property

Marketing your property successfully can help to find a buyer quickly and ensure a smooth selling process. A successful marketing strategy can be broken down into 3 important elements: price, method of sale, and promotion.

Price

One of the most important and fundamental elements of the selling process is setting an appropriate price for your property and developing a pricing strategy. The last thing you want is to put your home up for sale and have it sit idly on the market without generating the interest it deserves. Typically, the longer a listing is on the market, the harder it becomes to sell.

Of course, you want the best price for your home – but when you meet the market's expectations on price, you will attract buyers. And once you've gained the interest of one competitive buyer, then you're ready to negotiate a great price on your home

There are three considerations to be made when working with your real estate agent to set an asking price for your property:

Is your property in a desirable location or a less desirable location?

Is your property in good condition and well maintained or does it need some repair work?

Is your property equipped with modern and desirable amenities?

After establishing the value of your property with your estate agent, it's time to work out the best pricing strategy to suit your requirements.

Method of Sale

There are two main methods for selling your home, through an auction or a private treaty. An experienced real estate agent will advise you on the method that is best for your circumstances. It's important to remember that you, the seller, will always have the final say as to which method is chosen.

Auction

Selling by auction is widely recognised as a fast and highly efficient method to achieve a premium price for your property. An auction property campaign involves intense marketing over a set period of time. This creates time pressure for buyers which drives buyer competition. You can accept an offer prior to the auction, sell on auction day, or if you decide not to sell on the day you can sell later by negotiating with interested buyers generated by the marketing campaign.

Private Treaty

A more subtle approach, private sale involves quoting a predetermined asking price at the commencement of marketing. This price usually allows for a degree of negotiation. This method of sale, if handled correctly, can be highly successful. You may consider this method suitable if you are not in a hurry to sell and are prepared to wait until a buyer comes along willing to pay the asking price.

Expressions of Interest

A more recent marketing initiative, Expressions of Interest has largely replaced sale by tender as an alternative to auction properties that benefit from private sale negotiation rather than by auction. Like an auction, the process involves marketing your home without an asking price and with a prescribed closure date by which all interested buyers must register their interest. Private sale negotiations then take place where each of the parties tries to achieve a successful outcome.

Express Sale

C21 offers an additional sales option called EXPRESS SALE where a property is offered for sale as an exclusive listing without a price for the first 21 days of the listing.

All interested buyers are qualified and offered the opportunity to attend an open home. Once they've inspected the property, the agent obtains feedback, including what the property is worth to them.

After the 3-week period has ended and if no offers have been submitted, the agent returns to the seller with feedback from the open houses and an asking price for their property is decided. The asking price will reflect the feedback given and a saleable market price will be advertised.

Promotion

Your agent should promote your property in order to attract the most amount of interest possible. The more competition for your property, the better the price and condition can be.

An integrated perspective is necessary for designing and implementing the most effective marketing program on your behalf and should include multiple media channels including print and online.

After prospective buyers have looked at your property, your agents should follow up to get their feedback. This information is very important for evaluating the effectiveness of your strategy. Your real estate agent will be able to advise you on the best approach, incorporating seller feedback into your overall marketing plan

At Century 21 our carefully planned and considered approach ensures we attract the highest level of local, out of area and international buyer interest.