With so much media attention having been focused on the level of competition between home buyers and the number of sale results exceeding expectations last year, it is not surprising that some vendors have made the mistake of thinking that a strong sale will happen automatically. Indeed, some sellers have unfortunately assumed that once they put their property on the market, the buyers will automatically find it without any property marketing.
Great results rarely happen by accident
The strongest property sales have never been something that happen by accident. Key ingredients in selling for the highest possible price is the 4 P’s in marketing: product, price, place & promotion. This means that the more buyers you can make aware of your property, the more competition you are likely to generate.
Marketing your property broadens your buyer pool
A few years back, an independent firm of auctioneers in Sydney undertook a survey to try to measure the impact of the property marketing budget. Their study of over 180 property sales across Sydney found that properties with a budget below $5,000 attracted an average of less than one third of the number of buyers that properties with a marketing budget above that figure achieved.
Different marketing strategies for different areas
We all know that the Sydney market is different to the market we have in Melbourne . As Real Estate agents we tend to find that there are major differences between the most effective marketing strategies from Frankston to Mt Eliza to Langwarrin. We are experts in the local market and that is so valuable in itself. However, the general principal is clear. If you want to maximise the competition between buyers for your property, a carefully thought out and strategically targeted marketing campaign is essential.
Are you Thinking of Selling? Call our office today on 5925 9278 to get started