7 Strategies Real Estate Agents Use To Get The Very Best Sale Prices For Residential Properties

August 25, 2020

Hopefully you already know that Zevesto sells Brisbane residential property 38% faster than our competitors. That’s 21 days less on the market—21 extra days that YOU, the property seller, have ‘on your side’ to enjoy life once your property is sold.

And if you’re like most other Brisbane homeowners we serve, you’ll want to know how we’ll sell your home faster and for a higher price. That’s why we created this article… so you can see some of the strategies we use to connect your property with high quality buyers, faster.

Here are seven strategies skilled agents use to sell residential property, in less time…

1. Skilled Agents Create A Strong Pre-Market Campaign

A skilled real estate agent will start marketing a property long before it ever hits major real estate websites.

By focusing on creating strong interest with a pre-market campaign, and showing it to potential buyers before it is ‘officially’ listed, an agent is able to create a useful sense of urgency.

When competitive buyers know there is a ‘go live’ deadline (where they will be forced to compete with other ‘public’ buyers), they’ll feel plenty of motivation to get an offer in quickly. This strategy can create a frenzy of bids before a home hits the market.

2. Skilled Agents Encourage Early Offers

Skilled agents encourage potential buyers to make an offer as soon as possible. There are two reasons for this:

  1. When potential buyers are put under time pressure in a competitive environment, they don’t have luxury making a lowball offer. They often assume that a lowball offer may disqualify them from the process.
  2. Not only will early offers help encourage other serious buyers to act quickly, it will also help as a marketing tactic if the property does get officially listed. Being able to tell potential buyers there have already been offers can be a powerful sales tactic, especially at the first open home.

3. Skilled Agents Leverage Early Market Feedback

When a real estate agent runs a strong pre-market campaign, it’s possible to use the feedback from the market to judge whether the property is priced correctly.

If there is strong interest, sellers can potentially increase expectations or conversely, a lack of interest might mean adjusting the campaign.

It will also give sellers the opportunity to address any cosmetic issues that might be deterring potential buyers before a property gets listed.

4. Skilled Agents Put A Time Limit On The Process

A strong tactic is to put an end date on the property’s ‘on market’ time.

This can happen in a number of different ways, such as asking buyers for their best offers by a certain date, or even by using some online platforms similar to the auction process.

By defining a sale deadline, sellers add urgency to the process and create competition amongst buyers… all in a bid to extract the best offer from a buyer as quickly as possible.

5. Skilled Agents Carefully Frame Expected Prices

When a property is officially for sale, you might often see the sale price is listed as ‘from’ or ‘offers over’.

This is a tactic that sales agents will use to increase interest and competition. Generally speaking, if a sales agent believes a property is worth $550,000, they might list it as ‘offers from $499,000’.

This will increase the number of buyers that will look at the property (which means more offers!). If there are multiple parties interested, an agent can use their negotiating skills and attempt to get the buyers to bid against each other to drive the price higher.

6. Skilled Agents Do The Right Things, At The Right Time

There are certain times of the year when listings volumes are lower than others. A savvy agent will attempt to list a property at a time of the year when there is the most interest for that type of property and when the competition is low.

For example, the market might get flooded with new listings at the start of the Spring selling season, so an agent might choose to list a property a month before everyone else, in a bid to extract eager buyers whilst facing less competition.

7. Skilled Agents Change Their Approach According To Individual Buyer Psychology

Generally speaking, there are two types of property buyers: owner-occupiers, and investors. Skilled agents carefully frame the benefits of a property relative to the psychographics of each potential buyer. For example, most investors will make data-driven decisions, and most owner-occupiers will make emotionally driven decisions.

Selling To Investors

Investors want a property that creates a viable return on investment. To evaluate a property, investors will examine variables like the property’s general condition, the amount of upfront and ongoing maintenance required, any depreciation left on a newer or substantially renovated property, average rental yield in the street, plus its returns (ie. what a tenant pays).

A skilled agent will proactively communicate these variables to each and every investor-buyer, with the goal of creating a bidding war between interested parties.

Selling To Owner-Occupiers

Owner-occupiers are purchasing on emotion. They want a place that’s comfortable and conducive to their lifestyle. To increase owner-occupier appeal, the home should be immaculately presented and demonstrate a desirable lifestyle.

Skilled agents will help owners ‘stage’ the property, to give potential buyers a real sense of what it might be like to live there.

Spending some of your property’s marketing budget on staging and presenting a home to appeal to owner-occupiers is a way to increase competition and get buyers emotionally attached to a property.

Selling To Both

Sometimes a property is versatile… and will appeal to both investors and owner-occupiers. A skilled agent will adjust their sales posture and ‘framing strategy’ depending on the nature of each individual buyer.

The value of a savvy and experienced sales agent can’t be understated. An agent who understands the sales process can not only extract the most money from potential buyers, but they can also sell a home quickly.

If you’d like to find out more about strategies for selling your home faster and for a higher price, click here to learn more.

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