2012 May 03 - One for the Money, Two for the Show
the most beautiful house on the block is one thing, but getting buyers
into it is another, says Deirdre Fibiger of Property Network of Southern Africa.
says that in today's competitive buyer’s market, sellers need to have a
strategy in order to increase the volume of buyers that see their
property on any given show day. "It is simply a law of odds," says
Fibiger. "While it only takes one buyer to purchase a property, the
more exposure the property has to the market, the quicker a seller will
be able to find that perfect buyer."
She discusses a few things that sellers can do to ensure that buyers will be flocking to the property during a show day:
According to Fibiger, the first and most important aspect of increasing
the number of buyers that come to see the property is correct pricing.
"A property that is excessively priced will scare buyers away before
they have even stepped into the door. It is vital that the home is
marketed for a value that is related to the current prices of other
similar properties in the area offering the same features." In order
for a seller to know whether their property is within the correct price
bracket, it is advisable for them to consult with a professional real
estate agent that specialising in their particular area. Their extensive
knowledge of the industry and access to a variety of statistics and
property tools that enable them to correctly determine what fair market
Leave it to the professionals:
Working with a professional real estate agent will also give the seller
access to that agent's network of potential buyers and support from the
real estate agency. An estate agent will have a tried and tested
strategy on how to most effectively market property in their specific
area. The value added service that estate agents provide in marketing
the property is invaluable. Among other tasks, estate agents generally
take photos of the home for sale, list it on a number of websites and
pay for the costs of advertising, all of which will increase the amount
of buyers the property is exposed to.
Choose the correct time:
While occasionally some buyers may respond to advertising and will ask
to view the home during the week, historically the best time for a show
day has proven to be between 1pm and 5pm on a Sunday afternoon, however
this may vary from dependent on the area or town.
Make the home inviting:
One of the biggest sources of buyer leads comes from agent "For Sale"
and "On Show" boards. The old adage that first impressions last is very
true when it comes to buyers viewing a property on show day. Sellers
must ensure that the house is well maintained and looking it's Sunday
best. The outside of the property will be the first element of the home
visible to the buyer, so the lawn should be mowed, weeds pulled,
pavement edged and the garden should be cleared of any clutter. A fresh
coat of paint on the exterior of the home will also go a long way in
uplifting the property.
"Being prepared and having a reliable real estate agent that has working
knowledge of the area, will give the seller an advantage when trying to
find a buyer for their property. An aesthetically-pleasing home that
has been marketed at the correct price through the right channels should
attract potential buyers. This will give the seller the best chance of
selling their home in the shortest time period," Fibiger concludes.
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