Sales Campaign Explained
A strong sales campaign could potentially increase the final sale price of your property.
Selling property is not has simple as slapping a price tag on a home and hoping for the best. There is a lot of thought and strategy that goes into the sale process, and how well your real estate agent executes the sales campaign can make an impact on the sale of your home no matter the market condition.
Australian property is in high demand at the moment and there are no signs of things slowing down just yet but don't let that change your attitude towards creating a solid sale campaign. It is still essential to get it right so you can reap top tier results.
According to realestate.com.au, the average length of a sales campaign is roughly 21-30 days, which the highest level of interest seen in the first 10-14 days. So it pays to have a strong sales strategy in place before you hit the market.
Selecting the Method of Sale
There are three main methods of sale - sale by auction, sale by tender and sale by private treaty. Each method has its pros and cons and the method that works for your property may also depend on the state you live.
A recent survey by auction live- streaming and bidding site found that 90 per cent of sales agents in Sydney and Melbourne believe auctions deliver the best selling price. However this particular method is does not seem to have the same results in Brisbane, which makes this not the best method for sale.
Sale by Auction creates excitement and drives up competition amongst buyers, and ultimately your final sale price. Choosing an agent with the knowledge and expertise to deliver is essential to the success of a sale by auction campaign.
Sale by Tender is predominately reserved for unique and high-end properties with no clear price. This method is where potential buyers make an offer by a specific date, which the vender then reviews to decide if they will accept, negotiate or decline the offers.
Sale by Private Treaty is the most common method of sale. It is when the property will go to market with an asking price, and interested buyers submit their offers or start a negotiation.
The vendor has more control over negotiating with potential buyers.
Marketing Your Property
Whichever method of sale you are choosing, your property needs a strong marketing campaign behind it. Marketing campaigns include professional photography, online advertising (including social media), real estate portals (realestate.com.au, domain), signboards print media (local newspapers), drop cards and property brochures.
It is never enough to rely on one type of marketing channel. Having such a well-rounded marketing campaign will get your property in from of a broader audience (active and passive), which ultimately increase the interest in your property , and final sale price.
Styling Your Property to Sell
Property presentation is everything. It is how you get potential buyers through the door and to emotionally connect with the property, which drives up the final sale price. Your sales agent will guide you on your property's key selling features, and you will need to style the property to highlight these aspects to their full potential.
Remove any personal photos and items, tidy and declutter both the interiors and exteriors. Ensure your garden is looking at its best throughout the campaign, as you never know when a potential buyer will drive by to view before committing their time to an open inspection.
Consider working with a professional property stylist as they are the masters at styling to appeal to a bread market whilst highlighting the homes key features.
There is an art form to creating the right price point for any property, and a knowledgeable and experienced sales agent will be able to guide you through this. The first step is to know who your potential buyers are.
Being consistent with the market values is key because many buyers determine whether they look at a property or not, based on the advertised price. Having said that, you want to achieve the highest prices, so being a little ambitious in the advertised price can also work to your advantage.
There are a few things to consider when looking at your pricing: the initial appraisal of your property, which should be looked at in line with similar properties sold within the past 90 days. Your homes condition and broader market trends (this can fluctuate), buyers sentiment and market feedback.