THE SIX (6) VARIABLES WHY A PROPERTY SELLS
- What are the factors?
- What is controllable?
- By whom?
>>>Every property has a RIGHT Buyer in ANY market!
- Some are controlled by the Seller…
- Some are controlled by the Agent…
- Some are not controlled by either (The market).
The following are the SIX (6) variables in any property sale
- Homes in better locations will be preferred…
- …unless there is a significant price incentive.
- When selling, the location is a constant.
- It should be factored into the pricing strategy.
2) CONDITION / PRESENTATION/ ACCESS
- The Seller controls the condition and presentation of the property.
- The Seller controls access.
- The home should be presented in its best possible light.
- Homes presented better will usually sell first and for a higher price.
- There are many proven strategies to enhance a home’s appeal to Buyers.
3) DILIGENCE OF THE SELLING AGENT
- Sales do not happen on their own.
- The Agent needs to be positive and PROACTIVE.
- All Buyers must be followed up…
- …for further action and asked to buy.
- Accurate and relevant feedback MUST be given to the Seller.
- So that appropriate market based decisions can be made.
- The marketing strategy needs to be appropriate and effective.
- All reasonable efforts must be used to attract and engage the Buyer.
- Every home must have a customised strategy.
- Every property needs an appropriate marketing budget.
- Reflective of the property to correctly showcase it and position the property correctly.
- Buyers compare the competition for value.
- Buyers will not make offers in many cases where the gap between asking price…
- & what they perceive market value is too big for fear of offending the sellers or wasting their time.
- The Seller determines the asking price.
- The market determines the current fair market value.
- The Buyers determine the price willing to be paid.
6) THE MARKET/ FINANCE
Markets can and do change!
- They go UP, DOWN, SIDEWAYS.
To highlight how many factors there are, consider this:
PROPERTY MARKETS are affected by any of the following;
- Interest rates, new listings, recent sales.
- Sentiment, the football results, new taxes.
- Who is in Government, the weather, alternative cost to build.
- Supply and demand, global events (political and economic), stock markets.
- Regulatory policy (Affects access to and availability of funding).
The markets CAN AND DO change often (Even daily) depending on all of the above factors.
>>We need to monitor it, interpret it and work with it.
The alternative, is the WORST scenario…
- We don’t want that to happen to your property.
- I will be working hard to ensure you have the right marketing, right feedback, right systems & proactive actions to maximise the possible outcome.
- Together we can make it happen!