Having the most beautiful house on the block is one thing, but getting buyers into it is another, says Adrian Goslett, CEO of RE/MAX of Southern Africa.
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 Goslett.
“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.”
Goslett discusses a few things that sellers can do to ensure that buyers will flock to the property on a show day:
* Correct pricing
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,” Goslett says.
In order for a seller to know whether their property is within the correct price bracket, it is advisable for them to consult a professional real estate agent that specialises in their particular area. Their extensive knowledge of the industry and access to a variety of statistics and property tools enable them to 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 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 number of potential 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 proved to be between 1pm and 5pm on a Sunday.
Make the home inviting
One of the biggest sources of buyer leads comes from agents’ 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 its 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 to 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,” Goslett says.
“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.”
- Saturday Star