We spoke to John Percudani, Managing Director of Realmark, to take a closer look at the 4 elements of a successful sale.
Calling on over 30 years of professional experience in the real estate industry, Mr. Percudani ascertains there are four key elements that contribute towards a successful campaign – they are:
Methodology refers to the way in which you choose to sell your property. Most West Australians would be familiar with the traditional for sale method known as private treaty, and you might have noticed Auctions are becoming an increasingly popular sight around town too. However, there is a third selling method pioneered in WA by Realmark called the Set Date Sale (SDS).
To achieve a premium result for the sale of your property many factors need to be considered, including the time of the year, comparable properties that are for sale in your area and price range, and which selling method is best suited to the sale of your property. An effective selling strategy will take into consideration your needs and focus on a selling method that will deliver your desired outcome. This is the reason Realmark introduced the Set Date Sale methodology – designed to deliver multiple competing offers at the one time, providing you with realtime market feedback, and giving you the option to select the best offer that closely matches your desired outcome.
John points to marketing as the second component of a successful sale. From his years of experience he surmises that the first month is your key month. After that, your sale gets washed away with the new wave of houses coming onto the market. You need to strike while the iron is hot. Which means creating favourable conditions for your sale so that you can act on the opportunities promptly.
Marketing gives you the tools to let people know you are selling. It communicates directly with the people who need to know about your property. Sure, the web is a great start, but don’t stop there. How are you going to standout? Who is looking to buy? How do you let them know to look at your property? To get the best price it’s better to have more than one buyer. Your home is unique, it will have amazing qualities which need to be conveyed and you will need to have a marketing campaign to not only communicate you are ready to sell, but engage the buyers so that genuine interest and demand is created – generating multiple buyer interest.
Once you have listed your property and used the best marketing tools to attract the right potential buyers John advises presentation as your next step. You’ve mowed the lawn, cleaned the kitchen and dusted the skirting boards? Great start, but that’s not what John is talking about. The fundamental part of presenting your home is to make it your buyer’s home, not yours. A blank canvas is what you’re aiming for; it opens up the home to more potential buyers. If you want offers from every walk of life, then you have to give them space to dream of that life. Your home holds their dreams. You need to appeal to the singleton who wants lots of room, plus the couple who want a guest room, or the growing family, even the downsizers (you don’t know what they’re downsizing from).
Bottom line, the more potential buyers, the more engagement, the better your offers. You need potential buyers to become emotionally engaged with your home, so they want to make it their next home. Take the family photos down, declutter everything and leave the bare essentials. You’re aiming for display home with lived-in warmth. You want people to dream, dream of living in this space, of creating their home and all the potential that stretches out in front of them. You don’t want them walking into your life and judging whether that’s their lifestyle or not (because then you’ll be narrowing your potential buyers down to people who are only in the same walk of life as you). Depending on how much you have accumulated and your style of living, you might want to hire a storage unit or fill up the garage. Certainly look at modern interior design photos and see what a beautiful blank slate looks like. If all else fails, hire a stylist who will get straight to the point and are able to bring in hire furniture to create a modern dream.
With these steps done, the last ingredient you need is good advice while you are in the selling process. Do you take the first offer if it’s a good one? John says no – if there’s one good offer, there are probably more, but even if that first offer is the best you can only say that with certainty when it’s compared to a second offer, right? Transparency with offers and communications is what gives you a sense of control over the outcomes. It’s important to know what is working, what is not and why it’s not. This information, however you obtain it, is what will ultimately empower you to make the right decision when it comes to selling your home.
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