Introduction
Have you ever wondered how to sell your home for a premium price? You’re about to get all the answers you need. Perry Power and the team at Power Bespoke have developed an 11-step plan that has consistently resulted in clients receiving about 2% more for their property compared to the national average. This blog will take you through these steps, providing you with actionable insights and tips to achieve the best possible price for your property.
The Importance of a Structured Plan
Selling a property is not merely about finding a buyer; it’s about finding the best buyer willing to pay a premium price. Many estate agents focus solely on listing properties and hoping for the best, but this minimalist approach rarely works. A structured, strategic marketing plan is crucial. Whether you’re an estate agent or a seller, following this plan will give you control over the property selling process and improve your chances of securing a premium price.
Step One: The Price
Agree on a ‘marketing price,’ not an asking price or valuation figure. The marketing price should be based on factual market evidence to attract maximum interest. This initial price has no relevance to the true value of the property but serves to generate interest. Remember, a price too high may deter buyers, while a price too low could attract buyers who won’t pay the premium price.
Step Two: The Marketing Material
High-quality marketing materials are essential. Arrange for professional photographs, including aerial external photography and lifestyle images. Ensure your property description focuses on the benefits and lifestyle rather than just listing features. Buyers want to know if the property could be their next home.
Step Three: The Launch
Launch your property on a Wednesday and hold viewings on the following Saturday. This strategy leverages Thursdays, the busiest day for property searches, ensuring maximum visibility. Upload detailed listings to all major property portals like Rightmove and Zoopla and ensure your agent sends alerts to registered buyers.
Step Four: Premium Promotion
Utilize premium promotion packages on property portals like Rightmove and Zoopla. These packages make your property more visible compared to competing listings, creating 100% more views on average.
Step Five: Passive Buyer Marketing
In addition to active buyers, target passive buyers who may not be actively searching but could be interested if they come across your property. Use For Sale boards and social media advertisements, such as targeted Facebook ads, to reach these potential buyers.
Step Six: Monitor and Improve
Monitor the effectiveness of your marketing within the first week. Analyze the Click Through Rate (CTR), which should be between 6% and 10%. Rotate images weekly to keep your listing fresh and appealing. Adjust your strategy based on performance data to avoid stagnation.
Step Seven: The Enquiries
Make sure your estate agent captures all enquiries 24/7 to avoid missing potential buyers. Statistics show that most callers will not call back if their call is unanswered or goes to voicemail. Test your estate agent’s responsiveness by calling outside typical business hours.
Step Eight: The Viewing Strategy
Viewings should be carried out by your estate agent, not yourself. Block viewings together to create a sense of urgency and competition. The agent should focus on showing the property rather than selling it, allowing buyers to form their own impressions.
Step Nine: The Feedback
Collect honest and unfiltered feedback from every viewing. This information is crucial for making adjustments and understanding buyer sentiment. On average, it takes about ten viewings to secure a buyer, so feedback helps refine your approach.
Step Ten: The Review
After three to four weeks, review the marketing strategy with your agent. Look at marketing reports, CTR data, and feedback. Discuss adjustments and develop a plan to move forward. Don’t let your property sit on the market without a proactive strategy.
Step Eleven: The Offers and Negotiation
This is the most crucial part of the process. Handle offers and negotiations carefully. Qualify every offer, identifying both the buyer’s financial position and chain. Don’t accept the first offer and negotiate hard to secure the best possible price. Use timescales, fixtures, and fittings as additional negotiating levers.
Conclusion
By implementing Perry Power’s 11-step systemized plan, you are likely to achieve c.2% more for your property. It’s essential to create demand as quickly as possible to avoid price drops. Remember, the best estate agent is not the one who charges the lowest fee but the one who extracts the best price from the marketplace.
Moving house should be an exciting time, and with this plan, you’ll find the process structured and organized.
If you need any help or advice relating to moving house, follow this link to book a call with one of our experienced agents: https://powerbespoke.demo.cmsminds.net/book-online/