Part four of a seven part series, the ‘Seven Costly Sins’ that home owners commit when selling their home.
Sin #4 - Ineffectively marketing your home
You've invested a lot of time, effort and money into preparing your home for sale. So how do you ensure you get the best returns for your investment? A timely, comprehensive and effective marketing strategy is your best assurance for a quick and profitable sale.
It's hard to sell a secret! The effectiveness of your marketing campaign is directly linked to your access to marketing resources. It makes sense to make the most of the entire spectrum of marketing tools available to you. Website listings, email updates, newsprint, property magazines, property signage, direct mail, window cards, professional photography, open homes and virtual tours are just some of the basic option that need considering. However, when you sell privately many of these options are out of reach while others are just too costly.
Timing and budget are important factors to consider. As a general rule of thumb your marketing investment should reflect around 1% of your home's value. Interest in a new listing typically wanes after three weeks so marketing activities should be coordinated to create maximum exposure within this time. Make sure you thoroughly plan your strategy before you put your home on the market in order to make the most of the exposure period.
Selling your home has become a real marketing exercise and it is important that you effectively expose your property to all the potential buyers. The first three weeks of any marketing campaign is crucial as this is the period of largest buyer enquiry, so make this time count.
- Sin #1 – Pricing outside the selling zone
- Sin #2 – Displaying your home ineffectively
- Sin #3 - Over Capitalising
- Sin #4 - Ineffectively marketing your home
- Sin #5 - Letting emotions cloud your judgement
- Sin #6 - Choosing the wrong selling method
- Sin #7 - Engaging the wrong marketing agent
This is an extract from “How to avoid the Seven Costly Sins homeowners commit when selling their home” written by Mark Lambie
Mark is a top performing Sales Manager with Ray White in Christchurch and can be contacted via email (mark.lambie@raywhite.com), mobile (0274 400 200) or visit his website
The information contained in this article is of a general nature and should not be taken as advice. It reflects the opinions of the writer only and does not necessarily reflect the opinions of New Zealand Home Loans.
