Like with any product out in the market, selling real estate requires time, research, resources, and dedication. It might seem easy given that a house is everyone’s necessity, but it is a tricky business to pursue with the possibility of getting disappointing results.
With the real estate market becoming more saturated as more and more properties become available online and offline, it is best to come up with a sales strategy to bring people’s attention to your property amongst others before you hit the market.
Here are some aspects you have to consider when creating your sales campaign for your property.
1. Selecting a sale method
There is an appropriate method of sale for any kind of property. It could depend on the neighborhood, the location, or the type of property you are selling. For more expensive and private types of property, a private auction may be a more suitable method of sale. This way, you can round up interested buyers that are financially capable of purchasing the property.
For reasonably priced properties, a private treaty may be suitable as a sale method. It has a fixed asking price that allows prospective buyers to have a clear idea of how much they can purchase the property. It is a tried and tested method when it comes to a sale.
You can check the difference between an auction and a private treaty as a method of sale here.
2. Coming up with a marketing strategy
In this day and age, marketing is the name of the game. Anything can be sold as long as it’s marketed properly. This may be costly on your part, but it is a worthwhile investment, especially when it means you can get the property in the hands of a buyer faster.
The goal of marketing your property is to let the right people know that your house is for sale. It is to reach your target market in the right place at the right time for the right price. A marketing campaign can consist of different things: professional photography, social media, print media, and home staging. All of these are to show the potential of your home to prospective buyers.
Having high quality photos is a must in marketing a property — after all, it’s the visuals that the buyers get attracted to when looking for a home. This is especially important when listing your home in property portals. When the budget allows, get a professional photographer to take photos of your property.
Social media is the most popular go-to platform for advertising. A lot of marketers take advantage of this because it is a free online platform that allows them to reach a wide audience. Partner your graphics with a captivating caption that best describes your property so that the viewers will be able to get an idea of its overall feel.
There’s also the traditional print media — brochures, flyers, newspapers, and magazines. This is the costly part given all the printing expenses, but this allows you to target people in a certain location more effectively by distributing these there.
Last is home staging which leads us to our third point:
3. Presenting your property
The way your property is presented is a critical part of marketing it. Your property may be a blank canvas when sold, but it is important to help the prospective buyers paint a picture of how it looks when lived in. That’s where home staging comes into play.
Styling your property can help in creating good first impressions as well as an appeal to potential buyers. It is all about maximizing its potential and showing that to the target market.It sets your property apart from the competition and it is an effective way to enhance the property price as well.
What else is there to know?
Aside from those mentioned above, another important aspect to consider is the duration of the campaign. For this, balance is the key. You would not want for the campaign to drag out too long or else this will cost you more than you would have liked. Although, you would not want it to be too short either. As much as possible, you need to create that retention in your target market’s mind as well as create that urgency to purchase.
Another important factor is the budget. Be sure to set a reasonable budget that does not compromise what you set out to do. Note: being resourceful is vital when your budget cannot cover certain plans.
Lastly, as important as the execution is the planning stage. Planning lays down a great framework for you to follow during the execution phase of the sales campaign. Always take the time to sit down and plan. And when you do, be sure to have this goal in mind: to let the right people know that your house on the market is for sale.
Source:
Delahunty, E. (2020, February 27). What do great sales campaigns have in common? Retrieved August 23, 2021, from https://www.realestate.com.au/advice/great-sales-campaigns/