Selwyn Times: April 25, 2017

2
14 [Edition datE]
Marketing your property –
what does it mean?
Marketing a property is
more than presentation
and advertising.
Conceptually, marketing is
identifying what prospective buyers
are looking for then providing this. For
example, larger homes and sections
may appeal more to families. Young
couples starting out, generally have
tight budgets leading them to smaller
properties, while older people may be
looking to downsize.
Brand new has a particular appeal
however there will always be a market
for established homes. Having a
picture in your mind of the type of
buyer will help in determining the
features to emphasise.
If repairs and maintenance need
to be carried out before putting the
property on the market, seek the
advice of a real estate agent. They
can advise on what tasks are worth
completing and what might be
unnecessary expense.
Installing a new kitchen or changing
the carpet may lift the house but will
the expense be recouped in the sale
price? On the other hand, modernising
an outdated kitchen or bathroom
could make a huge difference to
the look of the place. Avoid going
overboard unless the capital value of
properties in the area justifies this.
Real estate agents are in contact with
prospective buyers so aware of what
they are looking for. Draw on their
expertise and advice to help make the
most of the selling opportunity.
Establishing a relevant and fair price
for a property is important. Most
agents calculate this based on the price
properties in the area have sold for,
and what a particular property has to
offer. A unique or exceptional property
may justify a higher price, though
run-down properties can gain more
than they appear to merit. This might
be due to the area or other factors that
suggest a good investment.
When promoting a property, mix it
up and be creative so your property
stands out from the rest. TradeMe
is a must; checked by most people
looking to buy. Present the features the
property offers as benefits to potential
buyers.
Erect a sign outside the property.
People stop and look at photographs
and this might spark sufficient
interest for them to visit an open
home. Spending a fortune on massive
advertising campaigns in every media
might seem a way to attract potential
buyers but may be an unnecessary
expense without the return. A better
philosophy could be a little often.
This will depend on the value of the
property, your budget and how best to
reach target buyers.
Buyer perception is also significant.
For example, properties that sit for a
while can become stale. Resting the
property by taking it off the market for
a short time, then relisting perhaps in
spring or when sales in the area appear
to lift a little, can make a difference.
However, if a property does not sell
immediately there is no need for panic
or dropping the price. It may simply be
that the right buyer has not yet come
along. If the mix is right your property
will sell.
If a property does not sell
immediately there is no need for
panic or dropping the price.