Selling without an agent
One of the big benefits of selling privately is that you establish a direct relationship with the buyer. As a rule, people are less likely to mess you about on a one-to-one basis, whereas they may have fewer scruples about fibbing to an estate agent.
But the main attraction of selling privately is obvious: no hefty sale fees (plus VAT).
Of course, buyers know this and expect a share of your savings, so the trick is to keep your price down but pitch it so that you still end up making more money than if you’d sold through an agent.
But before you can reap the benefits of a DIY sale, the first step is to plan your campaign. You will need to tackle some of the preliminary tasks normally done by the agent. Indeed local agents can be a good source of free guidance.
Your marketing plan
Before you try to sell anything, it’s always a good idea to sit down and work out what kind of person it will most likely appeal to, by ‘defining your market’.
This forms the basis of your marketing plan, and helps you select the right media in which to promote your property. Professional media buyers at advertising agencies do this by comparing magazines, newspapers, TV programmes and websites in terms of ‘cost per thousand’, calculating what it costs to reach a thousand readers or viewers who match your target audience – ie the type of people most likely to be interested in your property (eg families, retired couples, first time buyers etc).
By all means utilise social media, but be aware that the number of people who just happen to be seriously looking for a 3 bed semi in Chipping Sodbury (or wherever) may be minimal, compared to those searching dedicated property portals.
Your marketing plan can also help focus on the best way of describing your property, stressing the features that are most likely to appeal to your target audience. So if you’re selling a small flat, aimed at first-time buyers, the features you choose to emphasise are going to be very different from those likely to appeal to buyers of four-bedroom executive homes.
Whatever media you decide to use, it’s essential to clearly communicate your message. So here’s a handy tip used by professional copywriters. ‘AIDA’ may sound a bit like a cheapo supermarket, but it’s actually the secret behind every successful advertising campaign. If an advert doesn’t first attract your Attention, it’s a total waste of time. But to be of any real use the ad has to swiftly convert your attention to Interest. If it’s interesting enough, Desire will next grip the reader/viewer until they take Action to make enquires about buying.
Our next blog – coming soon ……
Selling privately (continued)
Check out our Rightsurvey blog page for more industry tips and secrets written by property professionals to help put you in control.
