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The Benchmarks (For Sellers)

THE BENCHMARKS  |  What does normal look like?

If everything goes according to plan with the marketing of your property…

…it should resemble what countless others that have been successful have looked like previously…

This is called “Benchmarking”.
  • In other words, what does “normal” look like?

The below figures give us a snapshot and to frame expectations…

…as to where we typically should be after 21-28 days of being “live” and launched on the market.

  • It is useful to compare what the actual numbers are at the end of that period compared to what is “par” or normal.

Symptoms & Predictors of an Imminent Sale

Cause and Effect. 

Everything in Real Estate is cause and effect driven, and predictable to an extent.

Decisions made affect the possible outcomes.

  • E.g. choice of Agent,
  • Seller expectations,
  • Price set,
  • Strategy, timing,
  • Presentation,
  • Access,
  • Reaction to offers and feedback
  • & the market all affect the result.

Understanding the BENCHMARKS & the possible causes of any exceptions…

  • or glaring discrepancies with a typical or normal campaign are healthy…
  • as only from a position of informed knowledge…
  • can various proactive strategies and options be considered…
Sellers are always better off to be the ones driving the agenda in the market place.
  • rather than risk the campaign stalling and the property becoming stale or “rejected”
  • which can and often happens and we see it all the time)…

That ultimately costs Sellers time and money…

  • We will discuss often during our regular meet ups;
  • The market,
  • The competition,
  • The response and Buyer feedback,
  • The possible alternatives and best move forward strategies to get you sold for the best price in the least amount of time…

Key Performance Indicators (KPI’s)

What can we expect?

The following are typical symptoms of a property marketing campaign positioned where we want it to be, trending towards an imminent sale.

Please note: This is a general overview.

Every home is different, and different price points can behave vastly different.

# ACTIVITY KEY BENCHMARKS (typical)
1. Enquiry (phone & internet) 10-20 in first few weeks
2. Internet inspections 1000 plus in first few weeks
3. Inspections (If home opens) 20-25 first 3 opens
4. Total numbers for a sale (via home opens) 40
5. Total numbers for a sale (via private viewings) 12
6. Private viewings 4-6 in first few weeks
7. Second viewings Several
8. OFFERS 1-2 in the first 3-4 weeks
9. Video views 5000 plus
10. Facebook likes/ shares/ views Lots
11. Drive-bys Lots

EVERY property has BENCHMARKS with similar or competing properties.

The key is understanding “normal” for your market segment and property to capitalise.

We can keep an eye on the numbers to compare and discuss as we need to.

Thank you.

I remain committed as your Agent.

 

Yours faithfully

Ian Barnes

Thank you for your business and continued trust.