When marketing your property choosing the right agent to sell it is so important. So what should you look out for?
The objectives of selling your property are:
- To sell it for the highest price
- To find a good buyer who will proceed with the purchase
- To find a buyer quickly
Typically, you will invite about 3 agents to value the house. They will all tell you they are the best agent for you. They will all explain why they are different from their competitors. They will all try and win your business.
An Estate Agent is a specialist at marketing properties. Today we are going to look at the 5 P’s of marketing and how you can use them to choose the right agent for you.
1. Product
What is your product? The agent should be able to tell you what makes your house different. They will need to point out its USPs to potential buyers. Ask them to advise on what could be done to promote it better. Also, ask them for examples of similar properties they have sold recently and how it compares with other properties on the market now.
2. Price
What price should you be asking? All agents worth their salt should know roughly what your house is worth when they look around it. Having said that, getting the price right when first listing is of paramount importance. Ask the agent why they are valuing the house at that price. Ask them for examples of similar houses which have recently sold in the vicinity and why they have come to their valuation.
3. Place
Where to place your property? There are 3 real options here: online, both high-street and online or off-market. This is more a question for you before you invite agents as it will determine which you will speak to. But when you speak to agents ask them where they would place your property. Make sure you pick an agent who will place your property in front of the right target market to achieve your objectives.
4. Promotion
How will your property be promoted? The agent will have to promote the property, so ask them what they will be doing. Which online portals will they use, if any? Will they create a marketing brochure with professional photography? Will they place a newspaper advertisement and have the details in their window? Do they already have potential buyers in mind they can speak to? Sometimes you might achieve a higher price if the right buyer is out there and has just missed out on a property. The agent could approach them before marketing the property and actually make you more money.
5. People
Who will actually be dealing with your property? Most agents will send different people out to try and win your business to those who will be actively trying to find the buyer. Ask your agent who will be doing the work. If it will be a team of negotiators then go and meet them. If it is an independent agency, you are more likely to get involvement from the person you are meeting. But make sure you are happy that you know who will be working for you.
Choosing the right agent to market your house is probably the most important step in selling it. We hope these ideas will help you choose the right agent for you. If you want to talk it over then do contact us on info@oxfordpropertyconsulting.co.uk.
If you are in the process of selling and finding a new home have a read of the 5 questions you should ask on every viewing.