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How estate agents REALLY market your property

Posted by Jennifer Jameson on May 14, 2016
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Many people believe that all estate agents are the same. I can assure you we are most certainly not. This is how estate agents REALLY market your property

Yes, in principle, estate agents use the same methods to sell your property, but this is where the similarities end. Most estate agents will tell their clients that they employ bespoke marketing campaigns and some specialised techniques to sell your homes.

Usually it’s utter rubbish.

If you were to visit Rightmove, Zoopla, Prime Location etc and pick out a few properties that the agent is selling and then go and ask the sellers how good these bespoke campaigns and techniques are, you’d find a withering response. In fact, tell the agent you’ll be doing it and watch their face drop.

It’s common knowledge within the industry that around 95% of all properties are sold via the internet and ‘For Sale’ boards are the best form of advertising for an estate agent. The old method of press adverts died many years ago, despite what many agents would still have you believe.

So how does an estate agent sell your home?

Contrary to popular belief, there are only three principle elements to achieving a successful property sale.

1) How your property is presented and marketed
2) Getting your asking price right
3) Demand

Presentation of your home is crucial to achieving the top price. If you’re not prepared or able to invest in making sure your home stands out in the marketplace, you’ll struggle for a long time to sell it.

Equally, how your estate agent markets your home and the amount of exposure to potential buyers is equally, if not more so, as crucial. For example, luxury homes for sale in Cheshire aren’t found in the local papers, free door to door magazines or via social media. Those looking for luxury homes in Cheshire will either look on the big property portals, have an estate agent that keeps them “in the know” or remembers seeing a tweet, photo, branded car, business card of an estate agent that sells luxury homes.

If your estate agent doesn’t list on the portals or have a strong web presence and or both, my advice is to drop that agency. If you’re already on the market with an estate agent that doesn’t do the above, I would advise you to seriously consider switching estate agents.

The reasoning is simple. If your estate agent cuts corners by not exposing your property on the property portals, doesn’t have a strong presence on the major social media portals and a high quality customer service attitude they are not maximising your property to the majority of potential buyers.

It’s hard enough trying to sell your property in today’s tough market, without employing an estate agent that cuts corners and the irony is that these agents usually still charge the same level of fees as us better agents.

Is the price right?

We all think we know the value of our property but fact is we haven’t a clue. A home is only worth what someone is prepared to pay for it, anyone that says or thinks differently is a liar or a fool.

At Jameson & Partners, if a potential client thinks their home is worth considerably more than we’ve valued it, we are willing to walk away and recommend the home owner seek a different estate agent. We’re not in the business of passing over clients but we’d rather have a home we know we can sell quickly than a home sat on our books with a vendor screaming that we’re doing nothing to help sell and wasting precious man-hours.

A good estate agent will know property values in your area and have an understanding of the local market forces. At Jameson & Partners, we give an honest valuation based on the local market, location, size, fixtures and fittings and most importantly, demand.

Demand

If the homes in your price range aren’t moving, there’s absolutely nothing you can do to stimulate a sale. The luxury home market is trickling along outside of the major cities and so it’s about location, location, location.

We know of country home that was on the market at £5 million for over two years without a single viewing. Then, owing to a luxury home development and the sudden influx of “celebrities” renting and or buying the properties, the viewings went skywards and it was sold circa £6 million within six months of being relisted.

Gimmicks such as a free holiday, car, school fees etc are great for getting the attention of potential buyers but let’s be honest, if you’re in the market for a luxury home costing £2-3 million would a another car in the garage or a cheap holiday to Florida really sway your decision? I think not.

Oh and that’s it. That’s all there is to it!

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