If you've made the decision to part with one of your investment properties, be sure to consider these tips to attract the best buyers.
Blogger: Jarrad O'Rourke, general manager, O'Rourke Realty Investments
1. Less is more
A property is far more likely to attract a wider pool of potential buyers if the publicity material only contains a limited amount of detail. When a lot of information is published, some buyers may actually be put off a property because it doesn’t fit their perceived profile, when in reality, it could be their perfect match. Keeping the detail to a minimum is more likely to attract a wider pool of interested parties - and therefore increase the potential of a successful sale.
2. Keep it simple
Most buyers actually don’t really know exactly what type of property they’re after. They may think they want a three-by-two single-storey home, but the reality may be that they fall in love with a four-bedroom double storey, so it is vital that the real estate agent works hard to keep the buyers open-minded. One of the ways of doing this is to keep advertisements for real estate simple and even a little cryptic - so that potential buyers have their interest piqued and they want to investigate further.
3. Curiosity wins
People are curious by nature. If they think there is something interesting in the offing, they will investigate it further. Including a photograph of a property’s front door, or the view down the street can be more effective in attracting homebuyers than having detailed images of every corner of the house because it suggests there is something mysterious and interesting that demands to be followed up.
4. Follow the leader
When it comes to attracting homebuyers, there’s no substitute for performance and results. A well-known, well-respected and established real estate agent will attract buyers by virtue of their reputation. Buyers gravitate to established real estate agents because they know that they have the best range of units, apartments, houses and vacant land on their books and they have a history of success.
5. Local legends
Attracting the right homebuyers is also about being the local hero. A real estate agent who has extensive local knowledge, who is the local area specialist and who understands everything about a particular suburb, be it planning changes, local government regulations, infrastructural developments, population growth, demographics and so on, will be the go-to real estate agent when a buyer is looking for a property.