October 29th, 2015. Ben Lloyd
Property Advertising: A Guide to Getting Your Property Seen
So, you’ve bought a property, refurbished it and it’s ready to sell, but what’s the best way to market your property and get the right eyes on your ad? How can you get it seen?
Here are a few property advertising tips to help you sell a house fast:
Choose the Correct Estate Agent
Picking the best estate agent for the job is far more complicated than using your friends’ services or whoever is the cheapest. Choose carefully as this can affect how your property is marketed, how quickly it sells and for how much.
Ask friends, family or other property investors for recommendations; research agents who specialise in your type of property or area, and always ask multiple agents to provide you with a property valuation.
We’d recommend choosing an estate agent who is enthusiastic about selling your property as this energy can rub off on potential buyers. You also want to consider how they will market your property. The best estate agents will use a blended approach of listing your property on their website and online property portals, print listings in the local press and displaying your details in their shop window.
Opt to Auction
Of course, there are no rules that say you have to sell your property using an estate agent. Auctions could be an alternative for getting multiple buyers bidding on your property that may result in you getting more money than expected.
It will also ensure a large number of buyers have access to your property information thanks to the auction catalogue and online listings. This means a property sale is likely to be quicker than if you use an estate agent.
Some people are put off by auctions as there is the fear that a property will sell for below its value, but if you place a reserve price on the property you can guarantee it will not be sold for anything less than you are happy with.
Market it Online
If you’re conscious of the selling costs, you may like to consider marketing your property yourself and joining the growing number of UK buyers who sell property online only. Shunning the traditional approach could mean avoiding the usual estate agents fees of up to 5% and replacing them with a flat fee of anywhere up to £1,000.
Yes, this would mean showing buyers around yourself, but surely this is a sacrifice you would be willing to make to save such a hefty amount of cash? And you may even find this more apt, as no one knows your property better than you.
According to Ofcom, the average adult now spends 20 hours a week using the internet. Low-cost online agents are a great way of marketing properties to these web surfers as they provide access to homes’ details 24 hours a day, 7 days a week and anyone from around the world can view them. Plus, online property portals are convenient for both you and the buyer.
Get the Price Right
However you decide to sell your property, choosing the right price is important. You may have had varying valuations from multiple agents, but how do you choose which one to go with? Take a look at what similar properties have been selling for recently and allow this to inform your decision.
Psychological pricing may also be effective as it will make buyers feel like they are getting a good deal and saving money. For example, instead of listing a property for £200,000, market it as £199,950. This is only £50 cheaper, but as the figure starts with a one it appears more affordable.
Pricing your property correctly could be the difference between a bidding war and your property sitting without an offer for months on end, however well you market it.
Take Professional Photographs
Professional photographs are an essential part of property advertising as it is the photographs that give potential buyers the first glimpse of your property and let them know whether they are interested in booking a viewing or not.
Buyers are visual and therefore there are a few rules all marketing images should follow to ensure best results. These include:
• Crop out any pavement, road or next door properties from exterior images.
• Remove cars from the driveway and tidy up the front garden before taking exterior images.
• Take photos when it is dry, with the sun behind the camera.
• Open all curtains and blinds, plus turn on the light to show how bright each room is.
• Always put the toilet lid down.
• Place vases of flowers or plant pots in the living room, kitchen and dining rooms.
• Avoid photographing in the direct line of mirrors.
Consider Your Buyer
For most properties a blended marketing approach is the best way to sell a house fast; however, for a select type of property, advertising efforts should be focused on certain avenues. For example, if you are selling a bungalow or retirement accommodation it is likely you will be targeting a buyer who is 50 plus.
According to a YouGov report 90% of people aged over 55 have read a newspaper in the last 12 months compared to 71% of people aged 18 to 24 years old. As a result, property advertisement in local or national newspapers may be more effective for this age group.
Whereas the Office for National Statistics has released data on internet usage in the UK that show the number of internet users increases with age until early 50s, then from age 54 onwards, fewer people use the web on a regular basis. Dictating. Showing online marketing may be more effective for targeting younger buyers.
A Roundup: How to Sell a House
So to summarise, to get your property seen and improve your chances of a quick sale, you should:
• Choose an estate agent very carefully
• Consider alternative sale processes, such as auctions or online listing only
• Be realistic when valuing your property and use psychological pricing
• Take professional photographs that show your property at its best
• Think about who your target buyer is and how they use the media
Article By Ben Lloyd
October 29th, 2015
Ben is the Director and Co-Founder of the Pure Group and Managing Director of Pure Property Finance.
Following a career in Barclays, where Ben was in the real estate finance team for 8 years, he decided that the market needed a more forward-thinking type of commercial brokerage so founded Pure Commercial Finance (now Pure Property Finance), the first company within the Pure Group.
Ben has extensive experience across the real estate sector and has participated in over £2bn of real estate transactions during the course of his career.
Ben oversees the general strategy at Pure Group and works with the senior leadership team to drive the Group forward. Ben is also on the Executive Committee of FIBA.See more articles by Ben