Marketing, price, presentation
Christmas and New Year is over. We are pretty much now beginning the 2009 year off back into work. I was back at work today to a bombardment of paperwork to be completed. The joys of life. As I said in my previous posts I said 2009 will be a year for change and opportunity. In terms of the change I believe that it will be more important than ever to be at the front edge of what’s happening so you don’t get lost in old ways of technology so that you’re not left behind which could cost you money.
There will be in 2009 a very big change in focus when it comes to marketing. As the credit crunch and the recession take full effect during the early parts of the year there will be a focus to finding more effective ways to market products to reach the audience. And Real Estate will be no different. This to me will be a vitally important key component that is going to become more and more important this year than ever before. Where and How you market your property will be the defining point in the result you achieve when you try selling. Obviously there are other things and I will cover them here as well.
The medians to advertise your property are going to change. In my opinion the need for print media is going to become less and less effective. The cost vs. the result isn’t stacking up any more. Don’t get me wrong that if you put a good sized ad in the news paper you are going to get a lot of local views that day in the paper but it’s a one shot. With the time taking to sell increasing and the attention span of the reader gets smaller due to increased pressures at work and with the family. (Our lives aren’t getting any slower). I think the way to go moving on in the future will be for longer term and specific advertising. This will be online and longer term print media.
When I Say longer term print media I am talking about the local Real Estate book that gets published by either the company or a collective of companies. But I feel that if the company isn’t big enough and doesn’t hold enough listings that if it tries to make a publication of its own for the area it will not get as much coverage. This is only because people these days and I think more towards the future don’t want to have to look all over the place to look at their complete choices. The one stop shop type of model is going to please the consumer of tomorrow.
Realestate.co.nz which is now New Zealand’s leading online Real Estate portal has a dominating effect on Real Estate adverting online. But this is a good thing for the way we as a society want to go. This will enable the public to have the greatest and a more comprehensive search. The reason I say that these sites and publications are going to become more important to your marketing is that people will want to compare your property with what else is on the market. I know people have been doing this for ever but the thing that I think is going to change is that people don’t want to be searching around all over the place to find comparisons. Also with our ever fast passed world you need to be out in the spotlight for longer. This is the reason for the publication with a longer shelf life to be more important in your marketing.
Along with where you market your property in 2009 Price is going to be ever so important. The slow down and recession which started in 2008 and that is now coming with us in 2009 is going to make pricing harder than ever but more important than ever. The thing is that some people will price to the market and some wont. If you are one that hasn’t our going to help the ones who have sell their property.
During the comparing process the buyer goes through your property will simply be eliminated because it’s a higher price compared to what they could buy down the road. I can’t stress this enough. You MUST price the property competitively in today’s market if you want to sell. And you need to advertise that. Be firm on that price but make it known. If you’re going down the track of no priced marketing Auction is the best way to go but make sure you at least have a guideline and listen to the buyers feedback on where they believe the price could be. But be firm on a reasonable value because buyers in a buyer’s market are tough but do listen.
One thing I want to mention on this point is that I know of agents out there actively in the field who are buying listings. Telling the vendor at the point of sale that the property is X amount which is a little more than any other agent you had in has said. This tactic is going to kill your chances of selling and what’s more frustrating is its going become more stressful for you when it seems like your dropping your price constantly because your agent you have chosen says you need to meet the market. 2009 will not be a time to test the market. It’s a time to listen, be aggressive and achieve results.
Presentation is going to be important. When marketing your property online the only guide the buyer has to go by when in the comparison stage is the pictures. Which make having good quality photographs very very important. There are plenty of places to go to have photography done and there will be more I think coming soon to give you a good choice of photographs. But it’s also about the photos that you take. Some agents and people swear by having less photos so that a person enquiring will ring the agent for the enquiry. This is wrong. And even more wrong for a generation Y person. Generally what will happen is that people just want to see everything so that they fully know what to expect. Then they can compare and either eliminate or shortlist the property.
Once the property is shortlisted you then will find the buyer will contact the agent and find out more meaningful and maybe more specific information for their needs. If they don’t contact the agent directly they will go to the open home. If all the preparation work and everything is done right then you will hopefully get a contract on your property. But everything has to be right. In 2009 there will still be sales and probably more than in 2008 but the properties that sell will be priced right, marketed right and well presented. The combination of these factors and doing them right, especially been proactive about the marketing will ensure that you have a successful sale in 2009.
January 05 2009 | Sellers and The Market | 5 Comments »
Sellers around the country are finding it increasingly difficult to sell their homes. Two years ago sellers could put their homes on the market and slap a for sale sign in the yard, and buyers would inevitably come. As an agent in New Plymouth, I feel very fortunate to live in a city with a good real estate market compared to most other markets around the country. But, even in New Plymouth’s market, sellers are becoming frustrated with not being able to sell their homes. If you’ve listed your home with no success, you may want to consider
taking it off the market, even if it’s just for a short time.
How long has your home been listed? The time it takes to sell a home (Days on Market) depends on your local real estate market. In New Plymouth at present this is approx 51 days – up from 38 the previous year. This is only the average. But in any market, if it’s been listed for 9 or more months without any success, you should consider your options: take it off the market for a while, find another listing agent, or make a considerable price reduction.
How many showings per week does your home receive? Showings are also a market sensitive number. If your home is getting fewer showings than your competition is, it’s due to price or to marketing. (your agent can tell you this) Be sure to look over your marketing, make sure you show off your home’s best features. Sometimes replacing dark pictures or rewriting your remarks section can be an easy fix for getting more showings. Since there are so many homes on the market, buyers are having to do a lot of shopping (and eliminating) on the internet. So, make sure your home gets on buyers’ lists of homes to see!
Have you received any offers from buyers? Again, this depends on the market. But, a safe rule is if your home has been on the market for 9 months with no offers, it’s going to take some drastic changes to get an offer. After a home has sat on the market for a while, buyers often think there is something wrong with the home and won’t put in an offer to buy it. If you have received offers on your home and decided not to take them, then you may have learned that buyers are making low ball offers left and right in this market. There are a lot of unrealistic buyers who think they can negotiate 20% off a listing. As a seller, you have no control of the offers that you get. But, be reasonable. There are a lot of unrealistic sellers, too, who think they can get more for their homes than the statistics show. The main thing is be flexible and work with everything you get.
How badly do you need to sell? Of course you wouldn’t have listed your home if you didn’t need or want to sell it. But, do you absolutely need to sell or move right now? If so, and if you haven’t gotten any offers, you may want to consider renting out your home. A lot of sellers are choosing to rent their home out instead. It’s a lot easier to rent a home right now than it is to sell one. So, at least consider this option.
Is your home priced competitively? If you’ve reached the lowest point you want to go in your asking price with no success, you may want to list again later when the market has balanced out. If you look at the statistics, in most neighborhoods the very lowest priced homes are the ones that are being sold. Of course it depends on the neighborhood, but buyers are wanting a good deal in this market. Homes are going under contract everyday – but, they are only the homes that are priced competitively.
All of these factors depend on your real estate market. So, be sure to ask your listing agent how your home is doing compared to other homes for sale in the same price range and area. He or she should be able to provide you with statistics for recent sales and showings. This will give you a good idea of where you stand in the competition. And, if your home isn’t fairing well, it would probably be better to take it off the market for a while. Most real estate analysts think the market will show a significant change around the spring of 2009. So, don’t feel like you’d be taking your home off the market forever. But, if you can wait to list again in the next 8 to 12 months, real estate markets in most places are expected to pick up significantly by then. After all, this strong buyers’ market won’t last forever!
October 19 2008 | Sellers | 11 Comments »
Do you want to have a quick sale and get as much for your property as you possibly can? In this market they both sound like farfetched goals. But with a little knowledge of what buyers want, and getting that right from day one as well as pricing competitively you should be able to achieve both these goals.
How can a buyer get interest for purchasing your house you might ask? Impression is the keyword. You just need to get your house ready to sell by doing some preparation so that the first impressions count. But you might be asking yourself how I do this. What things do the buyers look at? Well here are a few things that may help you to get your house ready.
· Beautify Your Exterior
The goal is to make your exterior look pretty and fresh to impress your buyer. The exterior becomes the first impression to the buyer when looking at your house. People can get a good impression on how you look after your house from looking at exterior and gardens. There are two sensory organs of a buyer you must impress. Those are eyes and nose. You can do this by bringing the garden to a homelike condition, making it look pretty and freshening it up. The steps you can do are:
- Get the grass, trees, flowers, and plants tidied and freshened up by mowing and watering it. Of your garden is cluttered or if you have large trees shading areas of the house consider trimming or taking them out.
- Clean up the curb and entering path and put the potted flower in the sides.
- Freshen up the smells by putting scented potpourri or having some potted plants with pleasant smells around the entrance to the property and the house.
- Clean up all of the windows, window sills, guttering and entering doors.
- Get rid of equipment and household junk/clutter and put it out of sight.
- Paint the walls if necessary and if the roof needs paint definitely do that.
· Make the Interior Cosy
After a buyer has got the feel of your house from the exterior they will go inside to have a look in there. You can do some simple work here to get the house feeling cosy and liveable. It aims to make a buyer feel homelike buy entering your house and make them feel at home. If a buyer can feel at home in your house they will probably buy it. These are some of the things you could do:
- Clean up the hard floors; scrub it if there are some bad spots.
- Get rid of spider webs from your ceilings and any fly much from any walls or light bulbs.
- Wash the carpets with a fragrant soap so that they look clean and newer.
- Get your furniture arranged tidily and gets rid of any unnecessary furniture so that your home feels bugger.
- Brush the closets and decluter them. Fold the linen and have coats hanging in some order.
- Clean the garage, basement, and attic. Make sure there are no foul smells and or dampness.
- Open your windows and clean them and the sills, it will bring freshness to your house inside
- If you have pets, bath them and clean any fabric material they may have come in contact with. Remember that we need to please the buyers nose as well.
- Put some fresh fragrance in the house, those plug in fragrance things are great.
- Some Repairing and replacement may be necessary. If there are some things that need to be repaired do them. You will know what they are, some of them are: cabinet handles, ceilings, ventilation filters, broken tiles in bathroom and kitchen, light fittings, wallpaper, some furniture and many other things that you could think of.
Last of all Get Your Friends’ Opinion
Assume some friends are like a buyer, and get some advice and suggestions to make your house get ready to sell. Your friends if they are honest with you will tell you how it is with your home. They may see things that you miss. As a home owner there are always things you will take for granted. They will be able to tell you of the things you may have not thought of. Consider also hiring someone to come in and set up professional furniture, i.e., stage your home.
Seek the advice of your local realtor. They will be able to then give you advice on any other things that you and your friends may have missed. Some of these things vary depending on location as buyers may have different reasons to buy in different areas. The other advice they can give you is an idea of where your property sits on the market in terms of price because as I said at the beginning the price is just as good as your presentation. The local knowledge that your local realtor holds is something that you should always listen to. Just remember that any advice they do give you is to try and get your house sold.
When it comes to selling your house if you aren’t going to do a makeover these tips will get your home ready for the market in about a month or so. Having your home looking its best in the condition it is in is all any buyer can ask.
Happy Selling.
June 30 2008 | Sellers | No Comments »
In todays market most people now are looking at property on the internet first and then going to the open home. People these days do not have alot of time and want to utilise their time to look at properties all at once. Out of all my property inspections over the past 2 months 89% of them have been via open homes, and all of my sales have been via open homes. But to maximise your exposure and chance at sale of the open home your property needs to be better than all the others your buyers are going to look at.
You need to spend some time cleaning, make sure that the house is spotless. This includes appliances, so make sure your cooker is spotless too! If you don’t have enough time to devote to cleaning your house then hire someone to do it. It is well worth having your house clean as it will increase the number of offers you will get. It can be very difficult to live in the house and keep it clean, however you have to try. Make sure your home looks like a brand new show home!
Make sure there are no strange or horrible smells around your home. Buyers will notice smells before anything else, make sure you inspect any potential causes of odor to make sure they’re not causing a problem.
Another area you need to concentrate on is clutter. Clutter really annoys and puts of many buyers. It’s not very nice to see piles of junk everywhere. Make sure you put all of your small kitchen gadgets away, don’t leave them on the countertops. Remove any trinkets, including photos if you have lots of them. You don’t want people to see the house with all of your things in, rather you want them to see it with their things in.
If possible get rid of any furniture that isn’t essential so that the room looks bigger. Every buyer will prefer a spacious room rather than a tiny room. Store any junk well out of sight in boxes. If you think you could live without something then consider selling it at a garage sale. If you really can’t bear to part with anything then hire a storage unit to store your ‘junk’!
You can make your home much more inviting by baking bread or cookies. Using candles can also make your home look much more elegant, along with music they could work wonders. You want to show people that your home is somewhere that they could live.
It is actually better if you are not there when people are looking around your house. Houses are very personal and so people will feel uncomfortable, especially if they have to discuss what to do. You want to allow them plenty of opportunity to view the house properly, this way they might fall in love with your house!
Just remember that buyers will be looking at many houses on the open home day. You want your one to stand out so that it os the one that the buyers remember your home. This is so essential in todays market.
June 16 2008 | Sellers | No Comments »
Selling your first home can be a nerve-wracking experience. When buying your first home, it’s normal to be a bit scared – but also excited & with plenty of plans for the future. However, when it’s time to finally sell your largest investment, many sellers are filled with questions and doubt. Will my home sell? How should I price it? What do I need to do to make sure it’s in showing condition? When it’s time to sell your largest investment, you need sound guidance & advice. Follow these tips to your first successful sale.
1) What Was Once Your “Home” is Now Your “Property”
It’s normal to be emotional about your home. You’ve celebrated holidays, entertained friends & family, & hopefully have great memories in your home. However, as soon as you’ve made the decision to sell your home, it now becomes a financial asset. It’s no longer your “home,” it’s now your “property.” As hard as it is, try and remove any emotion from the sale of your property.
2) Location, Condition, & Price
How quickly & successfully you can sell your property boils down to location, condition, & price. There’s not much you can do about location. However, you have the perfect opportunity to make sure your home is in great showing condition, and you have full control over the asking price of your property. Make the right decisions over what you can control – condition & price – and you should be able to successfully sell your property in a reasonable time.
3) Forget How Much You Paid For Your Property
What you paid for your property has little to no effect over its present value. The most important factors to your property’s present value are the comparable homes that have sold within the last 6 months. This can be a little hard for some sellers to swallow, because it’s something you have no control over. However, understanding this fact is key to successfully selling your home in a reasonable amount of time.
4) It Doesn’t Matter How Much You Spent on Improvements
Improvements to your home do play a big part in your home’s value, but the amount you spent on those improvements doesn’t mean much. If you spent $1000 on materials for wood floors, and installed them yourself, that doesn’t mean that your home is worth only $1000 more. Conversely, if you significantly overpaid for improvements to your home, it doesn’t mean that your home is worth that amount more. Again, market value plays the biggest factor. If homes with wood floors typically sell for $5000 more in your neighborhood, your home is worth $5000 more than comparable homes without wood floors.
5) Consult a Realtor ASAP – And Focus on Service
Once you’ve made the decision to sell your property, contact a reputable Realtor as soon as possible. Interview Realtors until you find the agent who is right for you – it might take one listing presentation, and it might take many more! While it is important to take note of the marketing fees each agent will charge, focus your attention on the services an agent will provide. Selling your home can be stressful, and you want to make sure that the agent guiding you through the process will provide you exceptional service & communication throughout the transaction.
6) You Get One Chance to Make a First Impression
Property condition can help you immensely when selling your home – and it can also be as big a detriment. Make sure & improve your property as much as possible – within reason. Touch up any necessary paint, de-clutter your home, plant fresh flowers, & make sure your home has a pleasant aroma. Your Realtor should help you with sound advice to get your home in top showing condition.
7) Relax
If you’ve priced your home correctly, made sure it’s in good showing condition, & hired the right agent, you should sell your home in a reasonable amount of time. However, you’re still at the mercy of the market. Relax, maintain your home’s showing condition, & adjust the price if market conditions & feedback call for it. Pay attention to average days on market, but don’t become too distraught if it takes a little longer to sell your property. You’ve done all you can to successfully sell your property, and it surely will!
April 22 2008 | Sellers | No Comments »
1. I have listed many homes and often times relate the same information over and over regarding the de-cluttering of the home as we home staging professionals call it. Basic 101 staging info is to de-clutter and clean up. Get the home ready. I am shocked at how many people just don’t understand why the home has not sold when it is an absolute wreck.
Has your realtor used the “de-clutter” word with you more than once? This is a professional form of saying “clean up”. Take a look around. If in doubt, ask a very close friend to come and help you clean up one day. They are more likely to tell you what needs to be cleaned up and cheaper than a cleaning service.
2. Unmade beds do not a great showing make. Sure, you gave your realtor a key to show your home but, you never make your beds when you leave each morning. You may fall into the “24 Hour” category. These are people who need a notice to get the home ready to show. Discuss this with your realtor. You may end up cleaning you home all night on a Tuesday for it to be shown on Wednesday but, I bet it shows better clean and you ‘ll now have a clean home for weekend.
3. Closets do count. Get your closets in order and arranged neatly. This does two great things at once. For one, people can see how much closet space you have and two, neat homes sell better!
4. Let the light in. I know, I love my dark bedroom for popcorn and movies in bed too ,but it doesn’t show well. Open the draperies, turn on the porch lights at night ,and liven things up a bit. Dark rooms are depressing and sell likely to be as appealing, as a bright a airy room.
5. LEAVE! No one likes to view a property with the homeowner at home. I once had a homeowner that refused to leave. She insisted she be present at every showing. Finally, I had her agree to stay in the yard. She still came into the home. Homeowners make viewers nervous and uneasy about opening cabinets and doors. My theory is if you want to leave this home forever you can get out for 30 minutes.
6. Clean up the Yard. Curb appeal is everything. Yes, your house is just precious inside and you have repainted and taken down that 1987 wallpaper but, have you considered your yard? Keeping a yard up throughout the selling process is part of the marketing plan. Don’t expect your realtor to work miracles on their end if your not holding up yours. Keep yards neatly manicured at all times. Half of the people who go see your home have already ridden by it once or twice.
7. Be available. Going out of town for a month? Sickness in the family? Do you sleep late every Saturday? Be sure to notify your realtor. It’s hard to sell your home if they can not locate you!
Advise your realtor of what your schedule is like. If I know someone sleeps late on Saturday’s I always schedule their home to be shown last. That way, they are more likely to be gone, and have had time to clean up and prepare for the showing.
8. Get the dog out! Others may be intimidated by your precious little “Fido” or even licked to death. Be sure your take them with you or have them locked safely away. I have had people refuse to go into homes due to dogs and cats being on-site.
9. Smell great. Smell is a great way to get people interested. Just as you walk past a person in the mall and notice that they smell great people will notice the smell of your home.
10. Take a hard look all over again. If you have had your home listed with three different agents and it still hasn’t sold maybe its time to realize its not the agents! Something is keeping your home from selling and and I will bet it has alot to do with numbers 1-9 on this list.
Property Profits
Deon Swiggs
April 22 2008 | Sellers | No Comments »
When it becomes time to sell your home you want to try and get the highest possible selling price. And one of the very first things you should pay attention to and address is your home’s curb appeal. It is the first impression a potential buyer will get about your property that will influence their determination as to what they think your home is worth.
Although you may think that if someone does not like something about your home they can just change it themselves, most people have a hard time imagining what certain changes will do to the overall look of a house. So why relinquish that control? Here are the 5 best ways to increase your curb appeal.
1. Mow and edge the lawn, remove weeds from lawn and driveway cracks, and rake the leaves. This will create an overall sense of tidiness and shows pride in ownership. If it looks like you don’t care about the general upkeep of the outside of your home buyers may start to worry about the inside.
2. Trim trees, shrubs and bushes. Overgrown trees and bushes can partially or completely hide a house from the street. If you have gone to the effort of making the exterior if your home look like a million dollars and potential buyers can hardly see it then you have just wasted your money. Trimming trees and shrubs can also make your home look bigger instead of looking lost in a jungle of leaves and twigs.
3. Plant flowers. Planting flowers around the house or using planters will not only add colour and help to brighten up the exterior, but it will also create a feeling of warmth and welcoming. If you are selling your home in the middle of winter, try to find photos of the outside of your house in the summer time. This shows buyers what your home can look like when everything is in full bloom.
4. Paint faded siding and repair exterior brick. If your home has aluminum siding that looks dull or faded, you may not need to replace it. There are products available at your local home improvement store that are specially designed for painting aluminum or vinyl siding. Brick exterior homes can be repointed and minor cracks in concrete can be patched.
5. Add lighting along paths, driveways and porches. Many showings for homes happen in the evenings after sunset so make sure your home looks good even in the dark. Solar powered lighting can easily be installed along driveways and paths and in your front and backyards.
Putting a little effort into the exterior of your house will have a huge effect on not only the buyers first impressions of your property but also help to increase the price your home will end up selling for. Remember not to rely on buyers to imagine all the changes they could make after the purchase. Take control of the buying experience and present your home in the best condition possible and you will see a return in the most important place. Your wallet.
April 22 2008 | Sellers | No Comments »
