Every property is different. From the actual property and its attributes to owners needs. With this knowledge, every selling campaign should be treated differently, there is no one size fits all. Tailored marketing campaigns to suit the property and investment budget are the starting point, but ultimately the buyers you attract and how they perceive your property will determine your best price.
Real estate agents are marketers before they are negotiators. Bear this in mind when you’re interviewing to appoint your selling agent. If an agent has proven to you that their marketing strategy will bring the greatest number of buyers to your property, then all that is left is their negotiation skills. Test that by negotiating the commission rate and see how good they are negotiating for themselves before they start for you.
The record breaking prices are purchases made with emotion. The emotional buyer is attached to a property and will do anything to have it. But, they don’t just happen to swing past your property and fall in love. In many cases, an emotional sale is manufactured through good marketing. Human nature can sometimes dictate our motions and when we see people around us want something, we can want it too. When there are plenty of buyers in one property our competitive spirit to win mixed with our subconscious thoughts of love are a winning combination for a seller.
It begins with the emotion of love, I love this home. This is followed very quickly with the following emotion, fear of loss. All it takes is to look around at all the other people in an open for inspection. You may even see or hear that the majority don’t like the property, but in many cases, it doesn’t register. You want it and you will get it at any cost.
If your agent can tailor the right marketing campaign for you, that from first impressions, your property is the one for multiple buyers. Then, you have increased your odds of setting a record. Once buyers have competed for your property and you have the highest offer on the table, then you have the best price in current market. Whether it’s below, at or above your expectations, you must consider it and move forward if you’re comfortable.
The following advice is of a general nature and intended as an opinion and broad guide. For all legal, financial or real estate advice you should obtain independent professional advice to do with the specific nature of your circumstances before making any legal, financial or real estate decisions.