PROPERTY
NEWS HEADLINES
Having the most beautiful house on the block is one thing, but getting buyers into it is another, says Colin Fibiger, CEO of Property Network.
He
says that in today's competitive buyer’s market, sellers need to have a
strategy in order to increase the volume of buyers that see their
property on any given show day. "It is simply a law of odds," says
Fibiger. "While it only takes one buyer to purchase a property, the
more exposure the property has to the market, the quicker a seller will
be able to find that perfect buyer."He discusses a few things that sellers can do to ensure that buyers will be flocking to the property during a show day:
Correct pricing:
According to Fibiger, the first and most important aspect of increasing the number of buyers that come to see the property is correct pricing. "A property that is excessively priced will scare buyers away before they have even stepped into the door. It is vital that the home is marketed for a value that is related to the current prices of other similar properties in the area offering the same features." In order for a seller to know whether their property is within the correct price bracket, it is advisable for them to consult with a professional real estate agent that specialising in their particular area. Their extensive knowledge of the industry and access to a variety of statistics and property tools that enable them to correctly determine what fair market value is.
Leave it to the professionals:
Working with a professional real estate agent will also give the seller access to that agent's network of potential buyers and support from the real estate agency. An estate agent will have a tried and tested strategy on how to most effectively market property in their specific area. The value added service that estate agents provide in marketing the property is invaluable. Among other tasks, estate agents generally take photos of the home for sale, list it on a number of websites and pay for the costs of advertising, all of which will increase the amount of buyers the property is exposed to.
Choose the correct time:
While occasionally some buyers may respond to advertising and will ask to view the home during the week, historically the best time for a show day has proven to be between 1pm and 5pm on a Sunday afternoon, however this may vary from dependent on the area or town.
Make the home inviting:
One of the biggest sources of buyer leads comes from agent "For Sale" and "On Show" boards. The old adage that first impressions last is very true when it comes to buyers viewing a property on show day. Sellers must ensure that the house is well maintained and looking it's Sunday best. The outside of the property will be the first element of the home visible to the buyer, so the lawn should be mowed, weeds pulled, pavement edged and the garden should be cleared of any clutter. A fresh coat of paint on the exterior of the home will also go a long way in uplifting the property.
"Being prepared and having a reliable real estate agent that has working knowledge of the area, will give the seller an advantage when trying to find a buyer for their property. An aesthetically-pleasing home that has been marketed at the correct price through the right channels should attract potential buyers. This will give the seller the best chance of selling their home in the shortest time period," Fibiger concludes
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