Marketing
The Marketing Programme
When considering a major decision such as how to market your property there are many different factors to take into account. If you are unsure and would like to talk to our sales staff please contact us at anytime.
The Plan
Advertising
Increases number of inspections which creates competition. This in turn pushes up the price.
The best form of advertising targets the right buyers and promotes the propery and not the Sales Person - Agency.
Neighbour Marketing works because a large number of properties in New Zealand are sold to someone within a ten minute circle. Or to a friend who would like to live in the area.
The Internet is becoming the primary way many people are searching for property. 7 out of 10 people in New Zealand make their initial foray into the market via the internet. It is convenient, inexpensive and wide ranging. It allows purchasers to remain anonymous until they are ready to buy.
So this is what we do!
For the sale we are offering a NO SALE NO CHARGE commitment to you of a base fee of $400; 3.95% up to $300,000 of the sale price and 2.25% on the balance + GST.
To ensure that your property is effectively exposed to the market we undertake to provide the following:
- Advertised in the Property Press and Manawatu evening Standard
- Featured in realmap ( an open home map page in the local paper )
- Internet placement on www.tararuarealty.co.nz Our cost
- Internet placement on www.realenz.co.nz Our Cost
- Internet placement on www.Open2view.com ( This costs $225.00, , if you choose to use it, and comes with a professional photographer )
- Internet placement on www.realestate.com.au Our Cost
- Internet placement on www.allrealestate.com.au Our cost
- Internet placement on www.trademe.co.nz ( This costs $95.00, if you choose to use it )
- Featured in our Newsletter and distributed to all our buyers on database via email and post.
- Colour photos taken on digital camera.
- A full Property Report, available at our offices and posted on our web site or via mail to clients requesting it.
- Colour signboard if you choose otherwise for sale signs placed prominently upon the property.
- We will prospect surrounding properties (a large number of properties in New Zealand are sold to someone within a 10 minute circle or to someone who knows of someone who would like to live in the area).
- Fliers sent to the Local areas.
- Constant feedback every week.
- Direct mail to "out of area" clients.
- Impact advertisements plus photos written and designed. We believe we sell properties others cannot because we take good photographs and write good advertisements.
- Inspections notified prior and feedback given promptly.
- Private, personal appointments for demonstration inspection of all aspects, benefits of the property, including a rehearsal of the demonstration practiced by myself either at the property or mentally run through.
- Consistent local knowledge of schools, shops, community services and transport.
- A client matching system through our client database, by targeting selected email lists.
- Thought given to who or where the most likely buyers for your property are.
- Advertisement placed in either the Fielding Herald, Bush Telegraph, Or other local publications.
- Open2view internet placement (if you choose)
- Our company has the services of a Licensed Auctioneer.
- Further out of town media marketing options if you choose, in conjunction with an Auction or Tender campaign.
Marketing Methods
In this current market place there are five main methods, and each has its place for varying reasons. We often tackle the marketing method of properties in a step by step basis. We try something and if that doesn't work we try some thing else and if that doesn't work we try something else again. It is a process.
Auction
- Provides you with a high profile marketing campaign. Buyers have a predetermined date to work towards allowing them to prepare. The objective is to obtain the best price in a controlled time frame with the least inconvenience and fuss to you. Offers can be forthcoming Before Auction, At Auction and After Auction.
- Works well in a rising market or when there are two or more buyers interested. Your salesperson(s) will have a good idea of who is looking and whether this should be an Auction property. Competition always drives price.
- A great method if you have another property that you would like to buy and need to sell in a short time frame.
Tender
- A Tender is similar to an Auction, but instead of purchasers bidding upwards, the Tenderer places their best offer.
- A very private and confidential method of sale. You have the right to accept or reject any offer and we usually have an acceptance time frame allowing you up to one week to decide if you will take any offers.
Exclusive Agency
- Where a property is listed with only one agency co-ordinating the sale. Therefore control of all marketing and promotion, open homes and personal introduction of buyers is conducted by sole agency sales staff who are committed to a successful sale.
- No Price advertising. By Negotiation
- Sometimes the best approach is to find all the buyers and sell to the person prepared to pay the most. It can be a way to "test" the market. In this instance we do not price the home. Instead we discuss with you what the property will probably sell for, so that when offers come in we know if they are fair or better. This is actually similar to an Auction, but can confuse the buyers as they do not know what time frame they are working towards. Suits owners who do not like Auction but want all the benefits of an Auction without its pitfalls, ie you do not have to set a reserve, but can leave the home " sitting ". If property does not sell we often then price the property. We are able to assess a more accurate price as we have had feedback from the market place.
Setting an asking Price
- Setting an accurate asking price is a difficult task and cannot be taken lightly. To price the property accurately we need to survey current market trends and ascertain what might be the highest price to be gained. Pricing accurately is one of the hardest tasks in Real Estate because ultimately the price is what the buyer will pay and you the owner will accept, not what we say, nor a percentage above GV, nor sometimes a valuation. Basing prices on comparison is an assessment only, as no other property is exactly like yours. That is why you see a number of homes marketed in the early stages with no price attached.
General Agency
- Where the property is listed with more than one company.
- This may work well in the first two weeks or so but if not sold the property can flounder because No one is taking control of your listing.
- To get a good price you need control of the process otherwise it will control you. Minimal advertising results, or buyers seeing it advertised " with everyone" might assume "No one can sell it, it must be overpriced or not a very nice property". You can actually lose buyers who do not even respond to the advertising. Sales statistics point to a higher result via Exclusive marketing campaigns
Private Sale
- We appreciate that well informed clients have the ability to do some areas of the function and process of selling , marketing and negotiating the sale of their home. They can however run the risk of underselling , particularly in a rising market place. Buyers tend to prefer to deal with a third party and ultimately the buyer pays the commission. We are more than happy for you to assist us in the sales process. It is a partnership to achieve the desired result. Whether you list with us Exclusively or Generally we have the provision to allow you to still sell privately. Most companies will simply not allow this, we do.
- We advocate competition, deadlines and attempting to find all possible buyers who want to own your home. We create the competition that stimulates the private buyer to act. 1:20 homes in NZ sell privately. We appreciate that you may like to try this yourself . What is important to you the seller is what you "net" in your pocket. There is a 95% chance that we can achieve that best net price for you! Yet still allow you the ability to achieve a sale yourself. A win : win for you!
How to promote the property
What advertising works best and where to advertise?
Who is most likely to buy the property?
Where are they and therefore where do we advertise to find them?
A targeted approach.
This is where we take great pride in our approach. We can advertise anywhere and anyway. We can do anything that other agencies are offering. We have great flexibility in our marketing plans, they are not cardboard cutouts. What we do is create an individual campaign in consultation with yourself to gain maximum impact with the least expense. The "standard" campaign that we have, has been developed from what works best.
Markets change and price trends move. We are constantly adjusting our approach in keeping to achieve a top sales result for you.
To open home or not to open home
Builders use many tools to build a house. Likewise we need to use as many methods as possible to sell your home.
We encounter many objections to open homes or signs from owners when they first consider selling their home.
YES we can try it without Open Homes or Signs and in many cases we will sell the property , but if not sold we should then use all the tools available to us. We think we should use all the tools immediately, but if you are unhappy with anything proposed to you or through the sales process, you are in charge. Don't be afraid to voice your preference.
With your approval we can conduct open homes typically from 30-60 min's in duration on a Saturday or Sunday afternoon.
- Mini Open Homes - We can conduct an open home directly via our database of clients. Our database highlights the most active or likely clients for your home. Invitations are sent directly to them by email, letters, cards or phone. This is a very successful way to sell your home. The Buyers are people we already know and have been qualified. Several interested parties at these mini open days can stimulate competition straight away. A good start.
- Public Open Homes - We can add Open Home times to the sign in advance. Open homes are more convenient for a number of buyers. Theycan view the property without having to make an appointment with the salesperson and can feel under less pressure. There are a number of buyers, who on Friday do not know that by Monday ( after going to an open home in the weekend ) that they will own a house. It could be your property.
Signs
Signs act as a 24 hour agent. When Buyers call us off a sign they have already identified the location, external appearance
of the house and the quality of the neighborhood. An inspection often follows when we furnish further details.
Pictorial signboards
Extremely useful when the property is better than viewed from the road, It is a real shame if the best buyers drive past the property and gauge an impression whether they will purchase or not from the road frontage , when the property is much better inside or in the back yard, the investment in this sign could capture the best buyer or a buyer who might not have otherwise viewed the property and made that appointment to view.
Stimulating competition
One of the hardest things for us in the current market is dealing with buyers who miss out on property. In many instances we have multiple offers. This situation requires careful handling.
The biggest risk in a strong market is that another buyer may turn up at a later date who would have paid more.
We have systems in place to manage this and a cohesive, cooperative team who work for you, the owner, to get the best price.
It can take weeks for the market to get to know that your property is for sale and for buyers to view the home.
We do not wish to rush it. Stories of property selling in the first day of going on the market can be disturbing for us , The offer needs to be absolutely startling to be accepted immediately.
You may wish to accept it if another sale rides on it and it is contingent on the sale.
We frequently hear about buyers turning up prepared to pay more for a property than the amount already accepted.
When a property sells at asking price or above, it indicates to us that the marketing was not done correctly.
Effective use of skilled negotiating while stimulating competition needs to be in the culture of the Company.
Web, database and email
Advertising
Increases number of inspections which creates competition. This in turn pushes up the price
The best form of advertising targets the right buyers and promotes the propery and not the Sales Person- Agency
Neighbour Marketing works because a large number of properties in New Zealand are sold to someone within a ten minute circle, or to a friend who would like to live in the area.
The Internet is becoming the primary way many people are searching for property. 7 out of 10 people in New Zealand make their initial foray into the market via the internet. It is convenient, inexpensive and wide ranging. It allows purchasers to remain anonymous until they are ready to buy.
Database Management
Our Company has invested extensively in database technology, email and web based technology. We are proficient in this area and with keeping in touch with our buying clients, so much so that we have sold a number of properties lately that other companies could not. Together as a team we fill in the gaps, link buyers to sellers and keep you fully informed. When this is not done, or a team members works on their own, you as an owner are not being fully represented in the market place. We pride ourselves on our teamwork. Our sales staff have the freedom to list anywhere. Therefore our market segment is right across the board. We cover the province with all property types- lifestyles, residential and investment. We try hard to fully represent you 7 days a week, using all our teams resources.
Database Buyers
We have an extensive database of buyers including many with email addresses. Due to this we are selling some properties before they are even advertised. This does not mean the properties are not being marketed. We are targeting buyers who have been identified over 10 years and more than 500 advtising campaigns.
Advertising directly through the database works. This is how you sell a $2 - $16 million Auckland waterfront property. You target whom you already know. Therefore you need an agent who knows how to do this for you.
Time and time again we sell properties that others cannot, due to our extensive database and targeted approach.
Web Pages
If you are about to become a home seller, it is worth assessing your agents website before signing on the dotted line. More and more purchasers are making their first contact with properties for sale on the internet. Even inexperienced web users soon work out how to differentiate between user friendly web sites and time wasters. Prospective vendors would be advised to be wary of advertising that is little more than a poorly disguised promotion for an agents own business group or network. Many people tell us, ours is a simple site to follow and the best one they have seen.
Buyers can be impatient and won't wait longer than 30 seconds to find a house before they quit the site and go onto another. Buyers are constantly checking our site for new listings and we contact them about new properties as they become available. We take web marketing one step further by actively sourcing email addresses of our clients. We are constantly sending links to our web pages, thus directing buying traffic to our site and your property, rather than relying on them logging on and finding yours amongst 1,000's of others.
View our marketing examples
Preparing the property for sale
20 Helpful Hints on preparing your property for the market!
When preparing your home for the market the general rule is to spend as little money as possible but small improvements in presentation can have a big payback.
- LAWNS - Keep mowed and trimmed, possibly re-seed bare patches and fertilize for colour.
- BUSHES, HEDGES & TREES - Trim and prune where necessary especially clearing any branches reducing light into the house or blocking attractive views.
- CLEAR or CLEAN off MOULD and LICHEN where readily accessible.
- Clean and spot repair exterior PAINTWORK.
- POOL and PONDS must be as clean as possible, with fencing in good order.
- Remove WEEDS from gardens and sweep PATHS. Fix LETTER BOX.
- Clean and clear outside DRAINS and SPOUTING. Grass removed from GUTTERS.
- Repair any broken WINDOWS. Check WINDOW FRAMES because they determine the soundness of the whole house. PAINT them.
- Fix GATE catches and any easily repaired defects in FENCES.
- Remove all RUBBISH possible including old tools & parts from incomplete projects. Tidy GARAGE to create space.
After working over the exterior of your property you can turn your attention to the INTERIOR. Once again you don't want to spend too much money.
- CLEAR CUPBOARDS and WARDROBES - Obtain some moving boxes and start packing all the bits and pieces you don't need to use. You might consider a garage sale both to provide extra funds for property promotion or moving expenses and to create more space in your storage areas.
- Repair any TILES, WALPAPER or WINDOW PANES.
- Fix creaking FLOORBOARDS or STAIRS.
- Secure JEWELLERY, CASH and other valuable items under lock and key. Also secure PERSONAL items and MEDICATION.
- DOORS & WINDOWS should open and close easily.
- CARPETS and FLOORS - have your carpets steam cleaned and floors polished where possible.
- PAINTING - Repairing and improving paintwork often gives the best return for the money you might choose to spend on presentation.
- Fix any dripping TAPS.
- Clear BENCH tops and fix loose or damaged KNOBS and HANDLES
- Although OK to look lived in, a house should appear as near to new as possible, so ORNAMENTS, CDs, TOYS, GAMES, and extra CLOTHES should be stowed away in locked china cabinets and suitcases wherever possible.
Pricing Options
When considering a major decision such as how to market your property there are many different factors to take into account.
In the current market there are four main methods we use to find the best buyers for our vendors and each has their place:
- A Fixed Price Marketing Plan
- A By Negotiation Plan
- By Auction Plan
- Tender
Setting an accurate asking price is a difficult task and cannot be taken lightly. To price the property accurately we need to survey current market trends and ascertain what might be the highest price to be gained. Pricing accurately is one of the hardest tasks in Real Estate because ultimately the price is what the buyer will pay and you the owner will accept, not what we say, nor a percentage above GV, nor sometimes a valuation. Basing prices on comparison is an assessment only, as no other property is exactly like yours. That is why you see a number of homes marketed in the early stages with no price attached. The emotion attached with a home sale can result in prices achieved that are simply hard to predict.
No Price advertising. By Negotiation
Sometimes the best approach is to find all the buyers and sell to the person prepared to pay the most. It can be a way to "test" the market. In this instance we do not price the home. Instead we discuss with you what the property will probably sell for, so that when offers come in we know if they are fair or better. This is actually similar to an Auction, but can confuse the buyers as they do not know what time frame they are working towards. Suits owners who do not like Auction but want all the benefits of an Auction without its pitfalls, ie you do not have to set a reserve, but can leave the home " sitting ". If property does not sell we often then price the property. We are able to assess a more accurate price as we have had feedback from the market place. Often we do not price a home in the first two weeks.
Auction
Provides you with a high profile marketing campaign. Buyers have a predetermined date to work towards allowing them to prepare. The objective is to obtain the best price in a controlled time frame with the least inconvenience and fuss to you. Offers can be forthcoming Before Auction, At Auction and After Auction.
Works well in a rising market or when there are two or more buyers interested. Your salesperson(s) will have a good idea of who is looking and whether this should be an Auction property. Competition always drives price.
A great method if you have another property that you would like to buy and need to sell in a short time frame.
Tender
A Tender is similar to an Auction, but instead of purchasers bidding upwards, the Tenderer places their best offer forward. A very private and confidential method of sale. You have the right to accept or reject any offer and we usually have an acceptance time frame allowing you up to one week to decide if you will take any offers.
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