The growth of Perth house prices maybe showing signs of slowing but the number of properties for sale is definitely not. The West Australian market is rich with listings and this can make it tough for sellers to stand out amongst a crowded market.
Standing out from the pack is key when trying to sell property in a competitive market. Choosing an agent who advertises on the Internet is the best starting point. According to Nielsen//NetRatings’ The Australian Property Search Report’ 92% of consumers use real estate websites to look for property and cited them as ‘the most useful resource’.
But remember, not all internet advertising is the same. Make sure your agent advertises on one or more of the most popular sites to maximise exposure. This means a site that reaches local, state, national and international audiences.
Once the property is listed online, encourage your agent to include as much information about the property as possible. Our research indicates that buyers like to see: detailed descriptions; as many high quality photos as possible; accurate floor plans; and virtual tours.
Be honest about the price you are seeking. In a recent survey by realestate.com.au, 92 per cent of people said they would be unlikely to enquire about a property with no price indication. Price on application (P.O.A) is a confusing term that either shows the property is too highly priced, or there is something to hide. Similarly, avoid using broad price ranges like $400-$550,000.
As simple as it sounds, ensure that the complete address is detailed. This is really important for potential interstate and international buyers so they can assess the location’s suitability. It also gives local buyers an opportunity to drive past the property and rule it in or out of the shortlist.
Remember, internet users are information hungry.
Your agent can also take some extra steps to give your property a higher profile. For example, if your agent advertises on realestate.com.au, ask if your home can become a “featured property.” This is an inexpensive option that highlights your property graphically and ensures you receive three to four times the property views.
Database marketing is another good option for ensuring everyone sees your property. Seek out agents that send e-brochures and eAlerts to property seekers who have registered to receive information on news listings. This approach will help target potential buyers who have expressed an interest in a property like yours.
While driving bulk visitors to online listings sounds impressive, it's the quality of these leads that counts. As a vendor, you want to know where the enquiries are coming from. Are most of your enquiries coming from the Internet? Are they coming from the Sale board? Speak to your agent about how you can maximise your on going advertising and the response rate. More importantly, are you spending your advertising dollars where the most enquiries are coming from?
These basic tips are cost effective and really work.
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