Selwyn_Times: April 12, 2023
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[Edition datE]<br />
21<br />
Marketing your property<br />
– what does it mean?<br />
Marketing a property is<br />
more than presentation<br />
and advertising.<br />
Conceptually, marketing is<br />
identifying what prospective buyers<br />
are looking for then providing this. For<br />
example, larger homes and sections<br />
may appeal more to families. Young<br />
couples starting out, generally have<br />
tight budgets leading them to smaller<br />
properties, while older people may be<br />
looking to downsize.<br />
Brand new has a particular appeal<br />
however there will always be a market<br />
for established homes. Having a<br />
picture in your mind of the type of<br />
buyer will help in determining the<br />
features to emphasise.<br />
If repairs and maintenance need<br />
to be carried out before putting the<br />
property on the market, seek the<br />
advice of a real estate agent. They<br />
can advise on what tasks are worth<br />
completing and what might be<br />
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an outdated kitchen or bathroom<br />
could make a huge difference to<br />
the look of the place. Avoid going<br />
overboard unless the capital value of<br />
properties in the area justifies this.<br />
Real estate agents are in contact with<br />
prospective buyers so aware of what<br />
they are looking for. Draw on their<br />
expertise and advice to help make the<br />
most of the 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,<br />
and what a particular property has to<br />
offer. A unique or exceptional property<br />
may justify a higher price, though<br />
run-down properties can gain more<br />
than they appear to merit. This might<br />
be due to the area or other factors that<br />
suggest a good investment.<br />
When promoting a property, mix it<br />
up and be creative so your property<br />
stands out from the rest. TradeMe<br />
is a must; checked by most people<br />
looking to buy. Present the features the<br />
property offers as benefits to potential<br />
buyers.<br />
Erect a sign outside the property.<br />
People stop and look at photographs<br />
and this might spark sufficient<br />
interest for them to visit an open<br />
home. Spending a fortune on massive<br />
advertising campaigns in every media<br />
might seem a way to attract potential<br />
buyers but may be an unnecessary<br />
expense without the return. A better<br />
philosophy could be a little often.<br />
This will depend on the value of the<br />
property, your budget and how best to<br />
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<br />
or dropping the price. It may simply be<br />
that the right buyer has not yet come<br />
along. If the mix is right your property<br />
will sell.<br />
If a property does not sell<br />
immediately there is no need for<br />
panic or dropping the price.