THE 7 STEPS TO REPRODUCIBLE SALES SUCCESS
If the theoretical baseline price point of your home is incorrectly positioned at the start of the campaign, you will miss the critical window of opportunity to capture the optimal price. Mispricing at the start means that you are flying blind with no clear ‘reference point’. If you and your agent don’t know the baseline market value of your home, you simply won’t know a good deal when you’re presented with it in your sales campaign.
If you are expecting to achieve an emotional premium for your home, then placing a dollar figure on it is the best way to lose that premium. Well-presented, unpriced homes (that avoid a price tag of any kind) eliminate ‘price anchors’ and ‘price ceilings’ and NEVER stop high levels of enquiry, high open home attendance and buyer competition.
Marketing has only one goal … getting people to your home. Too much information is costly and risks buyers making a purchasing decision in front of their computer. Too little information (and exposure) will also reduce the number of potential buyers at open homes. Efficient use of advertising (particularly real estate portals and targeted online strategies) is a highly reliable method to generate interest in your property and incredible open home attendance.
You will never have more people in your home than at the first open home. The attendance numbers (and buyer interest) only drop over time, so open homes are ‘showtime’! This is when buyer competition, fear of loss and accelerated market feedback, provide the ideal platform to obtain a faster sale at a market-beating price.
In ANY negotiation, you need to control the information. Highly predictable, above-market sales results do not happen when you lose control of the message. Handing control of your sales outcome to the market (using lazy sales methods such as Pricing or Auction) dramatically increases the levels of uncertainty and lowers the potential to secure an above-market sale. To achieve the optimal sales result you need to control the presentation, the pricing and the pitch. Anything less is simply placing your home into the hands of Lady Luck and just crossing your fingers!