Are you considering selling property? Do you know all about attracting buyers, advertising property and selling property? Get the essential tips on selling house first, before you sell. Have you seen some agents already and are receiving conflicting and confusing advice. Not 100% sure which way to go? RECNZ is an independent body set up to provide independent and impartial real estate advice to home sellers. The team at RECNZ have over 30 years hands on experience in real estate and has assisted people with thousands of property sales and purchases.
Unfortunately lots of sellers, when selecting the agent to sell their home, focus on all the hype of colorful newspaper adds, magazine adds, brochures and such that the agent promises in an attempt to try and win their business. Most agents now charge you for all the advertising knowing full well that it doesn’t sell your home?
Yes it’s easy to be impressed by agents who wave examples of their big glossy ads under your nose but nearly all the money spent on specific advertising programs is a waste, and generally speaking most agents are aware of this fact! Buyers very rarely buy the home that they originally enquired on. I’ll repeat that again in case you missed it, buyers very rarely buy the home that they originally enquired on, this is fact.
The aim of any type of advertising is to attract buyers. In real estate, advertising is not going to sell your home, the sale happens when a prospective buyer inspects it, and then falls in love with it!
So why do agents charge you for specific advertising knowing that, in the majority of cases, it’s a waste of money? Because it’s not their money, and it gets them good exposure!
Realistically, if all it took to sell a property was advertising it, why wouldn’t you employ a company that just specialised in Advertising?
Nonetheless, agents now charge on top of their selling fees an additional advertising/marketing fee regardless of the method of sale, previously you only had to pay for marketing with an auction campaign, so it is important that you be careful with the method, the volume and the cost.
The method- make sure your property is exposed in mediums where the agent knows the buyers are. There is no point advertising in a publication because it’s flashy and looks nice if you don’t get any buyers from there. A good agent will know exactly where their buyers come from, they will also know from what locations their buyers are moving from.
The volume- you need exposure but you need to balance it. Advertising it every week until it’s sold will cost you money, not only in advertising but in the sale price as well!
The agent- An agent does not need to advertise your home specifically to attract a genuine buyer to their office. Buyers go to real estate offices because they know they sell property and they usually have a choice! Most importantly, choose an agent that services the area that your property is located in.
What an agent is trying to do with their advertising every week is attract as many buyers as possible, they know that buyers very rarely buy the home that they originally enquired on, so with their advertising they are purely using it as a method for the phone to ring. Once it rings they then use their gift of the gab to see what else they have on their books that may suit you. A good agent will not show you the one particular home you enquired on and then let you go!
So try not to get overly obsessed on the specific advertising of your home, or the cost. Do not waste a lot of your money building the agent’s profile, focus instead on the skill of the agent in the negotiation arena, that’s where you make your money!
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