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an outdated kitchen or bathroom could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