Creating buyer competition
Selling your property quickly, for the best possible price is all about creating competition. It’s about having potential buyers emotionally connect with the property and then feeling a fear that they might miss out due to the interest of other parties.
But how do create this sense of competition? How do you ensure there’s a genuine fear of missing out that translates to multiple offers and the sale of your property?
Property preparation – the groundwork
Creating competition starts long before you list your property for sale. It begins by ensuring your home will put its best foot forward in terms of condition, look and feel.
In the months prior to selling, it’s a great idea to tend to any repairs, tidy the property, give it a freshen up and declutter.
The marketing campaign – You had me at hello
A standout marketing campaign is essential when it comes to creating competition and interest in a property.
This campaign will showcase the property’s assets, point of difference and the opportunity it offers.
It will also connect instantly with the type of buyers who are most likely to purchase your home – whether that’s upsizers, downsizers, first home buyers, or lifestyle seekers.
This campaign typically encompasses photography, videography, floorplans and a property write-up that then appears on the real estate portals, the agency website, and social media.
In the case of a prestige property, marketing might include print advertising that also encompasses newspaper editorials and magazine articles.
Street appeal – First impressions count
As the saying goes, you don’t get a second chance to make a first impression. And the first time a potential buyer sees your property in-person is an absolute milestone moment.
Often, this is the moment they will really begin to fall for its charm and forge an emotional connection with the property.
The aim of the game is to create stunning street appeal that people instantly fall for, ensuring they feel compelled to attend the open home to take a further look at what’s inside.
Open homes – Sealing the deal
The open home is the chance to seal the competition deal. Ideally, this open home should not just live up to the expectations that were set by the marketing campaign and street appeal but actually exceed them.
It should wow the people who attend, prompting multiple parties to express an interest in purchasing the home.
Negotiating the competition
With multiple parties interested, it’s your agent’s job to nurture this competition and leverage it during the negotiation phase.
Ultimately, their aim is to elicit the best possible sale price, along with sale conditions that suit your needs.
Competition allows your agent to achieve this goal, with two or more buyers vying to be the people who secure the keys to your home.
How we can help
If you’re considering buying or selling a property and seeking to understand the current market conditions, why not chat with one of our friendly agents to understand how we can help?
Or feel free to enter your address below to get your instant property estimate.
We’re not just about property, but the people and the stories behind it. You can also view our list of currently available properties here.
