RELAUNCHING A PROPERTY

It can be disappointing and stressful when a property hasn’t sold or has been on the market for an extended period of time. There could be multiple reasons for a property’s stagnation. Perhaps the previous agent has not handled enquiries adequately, or has not followed up buyer enquiries as avidly as they could have. It could simply be that the headline or photography did not grab the attention of the right buyer.

So now you have a new agent and are embarking on a relaunch. The new agent will go back to square one with fresh eyes for the property and an analysis of common trends. Revitalising the sales campaign with a change of furniture, updated photography or a new feature wall may be just the right blend of small updates that will yield you a better result on the relaunch.

Understand the issue with a property and market it accordingly.

There may be obvious reasons that the property is having difficulty on the market. For example – your home is on a slanted driveway, and visitors and potential buyers alike have complained about this. Rather than concealing this in the marketing – be up front. Tailor the marketing towards people who will appreciate this aspect of the property, and you’ll draw the right buyers and avoid disappointing others. Slanted driveways are not for everyone, but they do tend to appeal to younger people, or to the individual seeking increased privacy.

Be honest about what you are selling.

In keeping with honesty, don’t over-exaggerate your property’s features. It will only cause buyers to doubt the integrity of the whole marketing campaign, and to question what else is being concealed if they arrive to find that the advertising doesn’t quite match the truth. For example, you have a three-bedroom home that has an additional small room.  If you market the property as a four-bedroom home, then buyers who are specifically seeking a four-bedroom home will arrive and be disappointed because it’s not a true fourth bedroom. Conversely, if you market the home truthfully as having three bedrooms, you will attract buyers who are satisfied with three bedrooms. The bonus fourth room, which could be a study or an extra leisure area, will be a pleasant surprise and create a positive sense in the buyer that they are getting added value.

Invite people who have looked through the property to go through again.

Once you have tweaked your property and your campaign, ensure that your agent invites buyers who have previously attended to walk through again. The second inspection can provide buyers with a new perspective on your home. By now it is likely that your buyers have scoped other properties and have fresh insight into the value of their initial choice. A fresh mindset and a second look may be the factors that cause the buyer to claim your property as their own.

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