Tips on Advertising and Marketing Your Home for Sale
Here is our Real Estate guide to advertising and marketing your house for sale. We will teach you all the tips on the best way to sell your house fast and get the highest price for your property.
The promotion of your property is important in achieving the best possible price and outcome. With this, the “4 Ps” have been around for over 70 years. They still play an important role in marketing and selling your home. They stand for:
The Relevance of a Marketing Plan
Marketing can be a significant investment in the sale of your property and it’s crucial that you get this correct from the beginning of your campaign. Being experts in the field of real estate marketing at Biggin and Scott, we will create with you a specific plan that caters for your budget, time limitations and family situations. This plan will endeavor to develop the greatest exposure for your property in an effort to get the most amount of people looking at your home.
We never loose sight of the fact we are promoting your property, not ourselves, so it’s important to continually show your home in the best way and this is where both agent and vendor work together.
How should I Market my Property for Sale?
Over the last 3-5 years we’ve seen a significant shift with marketing away from the written media and almost fully online. With the expansion of social media (such as Facebook & Google my business), internet websites and other forms of online investigations, we encourage our vendors to spend their money wisely and forgo print media. It’s expensive and the exposure is far more limiting in print. Therefore, when looking at investing your money purposefully, our advice is to look towards a significant online presence during the campaign. The vast majority of buyer enquiry comes via the online media.
Having said this, we do think it’s important to have a signboard out the front of your home. Many passive buyers will not necessarily be looking online but might view the home walking the dog or see it as they drive by, it’s your 24 hour salesperson that’s not overly costly and still gives your prominent exposure to the local area!
How much does it Cost to Advertise my Home for Sale?
Marketing can begin as low as $500 and this can include a signboard, and online presence. But to capitalise on getting the most amount of people seeing your home our professional advice is to invest in a Premiere type of listing where the exposure and relevance is at it’s greatest. Contact our Real Estate agents to organise the best and most affordable option for you.
Should I Renovate or Style my House for a Sale?
Styling your home is a central component to a successful sale, although still not fully utilised by many. Shaping your home can come in a number of different forms, decluttering, de-personalising the home, cleaning, rearranging of furniture or getting new pieces of furniture through a professional home stylist. It’s a general thought by a number of agents that property styling can add between 10-15% onto the sale price of a home.
Common Mistakes made in Advertising a Property for Sale
Many mistakes are made by property sellers if they do not educate themselves correctly before making decisions. Below we outline the top 7 mistakes we see done by clients when selling their home or investment property.
Holding Back on Spending
As discussed earlier, holding back on your advertising can be one of the most costly mistakes you can make with it comes to selling your home. It’s hard to sell a secret, no matter how beautiful your home is, if nobody knows it exists, it won’t sell! You need to create competition in the sale between buyers and consequently getting as many people to view your home is a necessity to achieve this.
Selling your Home on Your Own
We are all emotionally connected to our homes and our judgement of our property can be clouded therefore. Selling your home by yourself could end up costing you more than the hiring of an agent! Be aware there are a number of pitfalls when selling and an experienced and honest agent will help you navigate this process.
Working with the Wrong Agent
You must remember to engage an agent you feel comfortable with and one you can trust. Far too many people stay with incompetent agents who don’t have your best interests in mind, many of these can be discount agents, as this is the only way of securing business to do it at a discount rate. A good and reliable agent isn’t usually the cheapest but the one with the best reputation, has been in the business for a long time and have excellent reviews from others.
Over Pricing your Property
A common mistake unfortunately as overpricing your home can backfire as it could reduce the number of interested buyers looking at your property. The most important time in selling your home is the first 2-3 weeks and if your property is overpriced and isn’t viewed, you are wasting this vital time!
Not Properly Preparing your Home For Sale
Every time someone views your home, you want it to leave a positive impression. Making beds, vacuuming, cleaning the backyard from toys, mowing the lawns may seem like obvious things to remember but if not done, can turn a potential buyer away. Most people don’t want a property they have to renovate and want something they can move into immediately. Consult with your agent on what is the best thing to do with this though.
Moreover, this is one of the reasons why you need to discuss with your agent before any upgrades are completed. Although a renovation may improve the home, it’s important to also get your money back or, more notably, make money on top of what you’ve spent!
While it’s understandable to have an idea of how you’d like the campaign to go and the result you’d like to achieve, you need to be flexible and open as it progresses. From changing times to opens, to listening to the feedback from your agent, to looking at all offers and examining them realistically, all these need to be kept in mind as your campaign continues. Remember instead of refusing an offer and perhaps getting upset, a useful resolution can be a counter offer to attain a win-win situation.