Historically, any property listed for sale in the Forest area generally attracts large interest.
It’s the property itself and the promotion that generates this enquiry.
Of paramount importance is that this is handled competently and that a commitment is given by your agent to devote their time, resources and energy to your property.
The following aspects of marketing are important in achieving the best result:
- Understanding Common Buyer Behaviour
- Pricing Strategy
- Marketing & Advertising the Property
- Buyer Management & Negotiation
- The Sale
Understanding Common Buyer Behaviour
Crucial to the success of your marketing campaign is a clear understanding of how buyers behave. Understanding these behaviours enables us to communicate effectively and negotiate the best possible price for your property.
Buyers start logical then become emotional
Buyers generally enter the market with a clear and logical list of personal requirements for their future home or investment. However, when they ultimately purchase, their choice is very different to the initial list they had. Most often, their choice is a result of some sort of emotion such as the feel of the property, rather than the logical list they started out with.
Buyers look for reasons NOT to buy – SHORTLIST
Buyers are time poor. Generally there are a large number of properties that may fit into the list a buyer has. The aim of the typical buyer is to shorten this list as much as possible so they’re only viewing properties that are a good match for them and fit within their general price range.
Buyers want a bargain
A buyer always wants to negotiate the best possible price for their purchase, and would like to think they’ve achieved good value for the money they spend. If managed effectively by the selling agent, these buyers realise the true value of their property and pay more.
Buyers “Buy Up”
Typically, buyers end up paying more for their purchase than they had initially intended to spend when they first started looking.
The way a property is priced has a strong impact on the ultimate success of the sale. Pricing a property too high could mean buyers strike it off their potential list of properties to view or, if they do inspect it, exclude it as a property they might be interested in. Strategically, we should remember the typical buyer behaviours. Buyers start with a logical mindset and become emotional, they want to shortlist, they want a bargain and they “Buy Up”. Of course, pricing a property too low has the obvious negative of not achieving the best price possible. Essentially, the price strategy will be different depending on the method of sale you choose.
Marketing The Property
One of the most crucial elements of the property’s sale is how effectively it’s exposed to the market place. The goal is two-fold. To expose the maximum number of buyers to the property and, to attract the best purchasers.
The Internet has become the major source of Real Estate purchaser enquiries. It works 24 hours a day, seven days a week and provides complete display advertising with photography, floor plans, virtual tours, etc. Shields Gillman ensure that internet enquiry is maximised with enhanced features like preferred placement of properties at the top of search enquiries, email alerts to purchasers whose requirements are suitable, voice virtual tours, and maximum exposure through all major Real Estate portals including domain.com.au, realestate.com.au, homehound.com.au, and many others.
The signboard is another that works 24/7. Shields Gillman boards are attractive, durable and simple to read. They can promote the property with photographs from the inside or rear out, and are a solid form of enquiry from people ready to purchase in the area.
Purchasers rely on brochures as a solid reminder of properties. Shields Gillman Brochures are produced on high gloss paper with excellent presentation of the property and may have floor plans printed on the reverse to remind buyers of the layout.
Shields Gillman recommend value for money marketing, and do not support advertising just for advertising’s sake. Most agents agree that the internet draws the majority of enquiries, however when it comes to marketing expenditure, their campaign has a majority in print advertising, typically to promote their ego in the local paper such as the Manly Daily. Local media is read by locals who just like to keep abreast of what is happening in their area. Real purchasers respond through the Internet and the Herald. Our print marketing campaign exposes your property to millions more potential buyers through the Sydney Morning Herald, with colour display advertising at a fraction at the cost of local marketing only. Should you request advertising in the Wentworth Courier, we can of course arrange that in your campaign.
In appointing Shields Gillman, you ensure that the marketing of your property is handled effectively. Our philosophy is to market only properties that we believe in. As we’re a specialist independent agency, we don’t take on large numbers of property for sale just to have them “on our books”. We are therefore able to respond to and actively market to and follow up buyer enquiry. No sharing our time with 10’s of other properties for sale.
Buyers respond to marketing at any time of the day or night by phone, email or drop-in. All enquiries are handled personally and not diverted to a voice mail service. If a message needs to be left, it is done with a live message service and responded to promptly.
Most buyers see the property at the pre arranged open house inspections, which we suggest happens on a Saturday and mid week late afternoon/early evening. I personally attend every inspection (unless drastic circumstances prevent so). Unlike many of our competitors, we don’t use assistants to handle buyers – the sale of your home is entirely in my experienced hands.
Perhaps the most underrated part of negotiation is the follow up. This is where we have the opportunity to educate the buyer in a one on one situation. This may be in relation to price expectations, to assist them with finance information, local area knowledge, auction procedures or to discuss any questions/concerns they may have.
Shields Gillman have complete success in selling both by Public Auction and Private Treaty (For Sale). For your property we consider that the most effective method to achieve the maximum price is by a well-managed Public Auction.
Shields Gillman are perfectly positioned to provide the highest standard of service and achieve (what we hope) is a perfect outcome for you.
We believe there is a discernable difference between agents, both in the results they achieve and the service standards they provide. We urge you to carefully consider the specific marketing details for your property as well as the standard of service you will receive from your agent.
If you have any questions or comments, please feel free to call Peter Gillman on 02 9451 8844 or 0404 000 797. Alternatively, email:firstname.lastname@example.org .