Blog

February 11, 2016

5 More Frequently Asked Questions in Real Estate in Brisbane

Originally part of a short presentation I gave to the Business Networking Group in East Brisbane, here is the other half of the list of most frequently asked questions I answered in 2015.

1. Why should I pay for marketing?

Traditional methods of marketing real estate are dead; the internet has changed this. We are now in a digital economy. At the same time, the role of the real estate agent has changed and we need to be tech savvy. We need to offer our clients the BEST way to utilise their marketing dollars. ALL is no longer FAIR in love, war and real estate. If your agent does not understand how the search engines operate, your money will be wasted as you will not attract the right buyers.

Let’s face it, buyers have never been better informed. They have easy access to property sold prices online, Phone apps, Websites announcing the value of your property – myhousevaluation.com.au, checkmyhouseprice.com.au, onthehouse.com.au etc as well as a multitude of other media including TV shows, property blogs, seminars, courses and books.

2. Why do you need open homes?

Firstly, it offers convenience for the vendor and the buyers – drawing all interested parties through one or two set inspections is far easier for the vendor to deal with than separate daily inspections. I want to make the purchase as easy as possible removing all obstacles from potential buyers.

Second, in a competitive market, you need MORE buyers SOONER – Statistics and experience tell us that your A+ buyers will come in the first 3-4 weeks of your campaign – so setting the inspection dates draws them to the property COMPETITION between buyers is what will drive your price. If a buyer is inspecting a house alone, they perceive NO COMPETITION and NO URGENCY TO ACT TYRE-KICKERS and NEIGHBOURS are a good thing – the real buyers do not know who is competition and who is just looking. A number of buyers at an open home can itself create urgency and competition, even if only ONE GROUP is in the market to buy.

3. How long will it take to sell?

How long’s a piece of string? There is no straight answer. A knowledgeable agent will know the approximate days on market for any given suburb and should be able to judge how long a property will be on the market for; but there are a number of key factors which make all the difference: How realistic is the vendor’s price expectation? Premium prices can be achieved in just a few days, miracles can take longer.

How is the property presented? Is it appealing to buyers? Does it look primed and ready to sell or being sold ‘as is’ so needs lots of work? What else is on the market? Is the suburb saturated with similar properties?

4. What is staging and why use it?

The fact is that once those buyers have seen your marketing and attend your open home, you have just 30 seconds to make a first impression, and 95% of buyers buy on emotion.

Staging or styling is a proven real estate strategy. Research shows staged homes often sell for a higher price, and considerably faster than unstaged homes. Location, location, location? Not anymore. How a property is presented can and does make a huge difference in what a buyer is prepared to pay for it. If it looks like a million dollars…

Buyers are only human. Only 10% of buyers can visualise potential. An empty property is less likely to tug on the buyers emotions than a furnished one. And if you can’t afford staging? Why not try virtual staging? You want your home to sell. For most of us, our home is our most valuable asset, and you would be crazy not to do all you can to assure the best return on your investment.

5. Why should I list with you?

  • I am a FULLY LICENSED real estate agent
  • I maintain in-depth market knowledge
  • I have a proven track record with sales and testimonials to back it up
  • I am pro-active, not reactive
  • I am an expert negotiator
  • I am an expert and open communicator
  • I maintain an existing database of buyers
  • I am trustworthy and reliable
  • I am driven by premium results

Photographs taken by Shae Style Photography.