Firstly, there is a need to dig deep to understand and determine the Unique Selling Points (USP) of the Property. USP are Not just ordinary good reasons or plus points of a property, they have to be rare, distinctive and special! Something different that stands out for your unit, compared to others in the area.
The Unique Selling Points has to be Highlighted in a captivating Script for all available Marketing media platforms. These USP would also have to be Emphasized to potential Buyers during Viewing presentations through a strategized Selling Script.
We should also take note of the Negative Aspects of the property. All properties have their plus and minuses, which is fine. More importantly, is how we underplay the negatives aspects and minimize the effects that they may have on potential buyers.
We must be ready to address any concerns, especially objections that potential buyers are likely to bring up regarding the property. The realtor must be confident to counter the objections and to turn the situation around into a positive or desirable point.
Objections are actually a good thing. Many a times, it may mean that the buyers do like the unit but they are just trying to test the Seller on their pricing and seriousness to sell. When objections are handled correctly, it will usually lead to further negotiations and closing.
For Example, when marketing a low floor unit, some buyers may call to enquire about the unit. We have to qualify the buyer that it is a low floor and if they are still keen to view the unit, it means that the interest is still there. However, during the viewing, the objection on low floor may still come up, and we need to find that push factor or USP for them to overcome the objection internally and convince them to choose the unit.
The fact that they are viewing the unit means they are actually fine with low floor. By qualifying, pre-framing the prospective buyer and turning the objection into a positive point, this may lead to a potential deal. There are various good reasons for staying on a low floor as everyone is unique and have different needs. So it is not all that bad. It is how the Realtor convinces the buyer that matters.
The mindset of the realtor is important. Every unit can be sold. Every objection can be countered! In fact, in this case, if low floor units are no good/ hard to sell, then why are there no empty 2nd or 3rd floor units in Singapore? They are all occupied with residents. There is definitely a demand and there will be the right buyers for these units.
Engage the Right agent with the skills, knowledge, expertise and tenacity! I will be glad to share with you more in person.
b) Location/ Environment Focused Marketing Angle
Besides the actual Property itself, a buyer is also buying the Whole Experience of living in that area, with its Transportation links, the Environment, the Neighbors, the Neighborhood, the Surroundings and the Amenities.
We need to determine and highlight these Selling Points of the Location/ Environment to Potential Buyers. For example, where and what is the distance to the nearest supermarket (NTUC, Sheng Siong), wet market, coffee shops, hawker Centre, clinic, shopping Centre, good schools, nearest bus stop, the bus numbers and their destinations, the MRT station, and all other interesting property information of the neighborhood.
By providing these detailed information, we make the location seems convenient and accessible. We give the buyer the feel this is a good place to live in and the buyer can go about their lives smoothly.
Neighbors play a big part for buyers in their home search. Who would want to stay beside a creepy, grumpy, unhappy, noisy neighbor? It is therefore important for sellers to portray neighbors who are friendly, nice and peaceful. It is also good to inform your neighbor that you are selling, and sometime seek assistance with the neighbors to make the common spaces clear, spacious and neat.
We want to avoid a scenario where prospective buyers walk past a neighbor unit with piles of untidy shoes, huge flower pots/ plants, laundry clothes hanging and blocking the walkway. The first impression of that unit is already negative before entering the house.
2. GETTING THE HOUSE READY FOR SALE
This means to showcase and present the house in the best way possible, just like what you would see in a Showroom or Sales Gallery of a New Launch project. We need to make your house feels like a home. The house has to look bright, neat, tidy, clean, inviting, welcoming and comfortable!
When prospects see the property, they must be able to envision themselves living in it! Only then are we able to ignite the right welcoming feelings of homeliness, comfort and peace. That is the response we want and in doing so, there is high chance to lead to an offer.
Very often, buying a property is a feeling, and sometimes when a prospect walks into a house, they will know within the first 5 or 10 seconds whether the Property is for them. You too may have encountered this before. Therefore the First impression is critical in keeping the interest of a prospective buyer.
a) Decluttering/ Tidying/ Professional Cleaning
This is essential, especially for owners who have been living in the property for many years, and over time, things tend to build up. It can be anything from old magazines/ newspapers, CDs, souvenirs, trophies, old shoes, old TV, old computer, toys, the list can go on…
Many a times, these things are kept although it is not in use for a long time and likely will not be in use anytime soon. Items are being kept for no real purposes except for memories sake and there is always a tendency for some to say “maybe next time I can use this”.
We have got to really ask ourselves, will I really need it? Am I just keeping for the sake of keeping? Do I intend to bring these items to the new house?
By Decluttering and clearing the items in the house, it will make the space seems wider and neater and more welcoming! The goal is to take on a minimalist approach and display mainly the essential items, just like a Showroom or a Hotel! For items that are not in use daily, they should be organized and placed in the store room, cabinets or wardrobes, away from sight.
b) Touch up/ Handy/ Repair Works
Depending on the condition on the House, some little works may change the impression of the property and increase the perceived value in a huge way.
For example, giving the house a fresh coat of paint would likely cost less than $900 but the effects may increase the perceived value by a much greater amount.
Polishing of parquet flooring cost around $300 per room, but just imagine the perception of a potential buyer and how they will feel when they see the flooring in good condition and how much more value it can add to the property.
Ensure that all lights are working fine, it does not cost much to replace faulty bulbs, but it makes a whole lot difference, walking into a brightly lit cozy home then a dark, dingy, eerie house.
For some areas, adding warm ambient lightings helps! You can get those low priced Lamps from IKEA, and place it at the bedside table of the bedrooms giving it a cozy feel.
Repair that kitchen cabinet that is unable to close properly (it is just replacing the hinge) or that squeaky loud master room door when it opens or that bulgy ugly hole on the wall due to a previous hooked painting. You get the idea!
b) Home Staging/ Styling Works
The next Step to getting the Property ready for Sale is often known as Home Staging!
The main aim is to create a comfortable homely environment for potential buyers so that they can fall in love with the house and visualize themselves living in it.
More of this will be shared in the Home Staging/ Styling Page in the top Menu or you can click on the link below.
We have now got a nicely set up home, what we need next is to have Professionally Taken Pictures that will make the house looks Great! Pictures will be personally taken by me using wide angle lens or Panorama shots to make it look wide and spacious! They are also further enhanced using a photo editing software Photoshop to make it look even nicer. The pictures are made to always look Bright, Spacious and Inviting.
All pictures taken shall be sent to my owners so that they are fully aware of what I do and how I do differently.
Videography tells a story of the place. It guides the audience through the flow of the house presenting it in an engaging way keeping them interested. It captivates the prospect even before they view the actual unit. The prospect would already know much about the unit and if they still intend to view the actual unit for sale, you can be assured that these are genuine qualified prospective buyer. With the right techniques and closings skills, it will be easier to push a genuine offer!
Engage the Right agent with the right skills, knowledge and expertise. I will be glad to share with you more in person.
4) 3D Floorplan Interior Design Rendering (FREE)
The 3D Floorplan will help to give prospective buyers a better idea of what they can do with the space. For example, where they can put their sofa or dining table? Which wall can be hacked? Should I have an open concept kitchen? Can I have a kitchen island? We can tie up with reputable ID Design firm Rest n Relax Interior, for a free draw up interior design for the unit, based on the floor plan.
5. PRESENTING THE UNIT TO PROSPECTS
So now after the prospect has enquired and is keen in the property, the next step is to arrange for the prospects to view the property, but NOT at any time or any day at the request of the buyer.
We should do it in a way that brings out the interest in your property. I seek to do it differently from others where possible.
You see, when there is 1 property and 1 buyer, the buyer’s value is high. They are in their comfort zone, taking things easy and there is no urge or urgency to act. Prospective buyers come for the viewing conditioning themselves that they are just here to ‘have a look ’.
They have these fears and doubts and are ready to find reasons to tell them that the property is not the right one for them. This way, they can avoid having to make that big scary decision of committing to a property purchase. Often during the viewing, buyers may voice out their concerns/ criticisms.
For examples – “Ohh there is afternoon sun, ohh I prefer north facing unit, the road is too close, I prefer a higher floor, the aircons looks old, I prefer an unblocked view, I need to do lots of renovation, it is quite noisy, etc…”
If the right qualifying of the buyer has been done initially, many of these reasons, most buyers would already have known even before they come for the viewing. The prospects view quickly, then say bye, thank you and they leave… Many might not take the viewing seriously and are just having a look a.k.a window shopping.
Nothing much happens after that. The frequent response during subsequent follow ups would be lots of excuses and reasons “I am still considering, I will give it a pass, I need to discuss with my family, I am still viewing a few other units, I think the prices will come down further etc.”
At the end of the day, the Bottom line is… →
There is no attraction; there is no urgency or need to take any action.
How then do we diminish the value of the buyer and enhance the value of the property? I have been using this strategy for the past few years and it is effective as well as convenient for Sellers. I call it the ONE SHOT Open House Strategy.
This is different from the typical Open House where buyers come in and out at their own free will at different timing. The objective would be to Garner all the buyers to come together on 1 single day at 1 single time.
This way, there will be massive hype, interest and excitement. The goal is to create the perception that your house is highly demanded.
It is an interesting concept, when you have a few groups of people viewing at the same time, the buyers tend to take the viewing more seriously, they tend to stay longer in the property. They don’t want to lose out.
Our aim is to create the feeling “If I like the unit, I have to be quick and act on it soon. If I don’t, someone else might buy it.” That is what we want!
Not all buyers will be keen, it is fine, all we need is just 1 buyer, but by having a few groups together, all the other parties are actually encouraging and motivating that 1 buyer to take action.
Of course, this strategy may not always be possible but we try to do it where possible. It is normally done on a weekend afternoon, where most buyers would be available.
There is much more to this strategy which can only be implemented during the actual viewing process, e.g. what I tell the prospects before, during and after the viewing to ignite their interests. We need to get the buyers excited, focus on the positive aspects of the house and finally take action!
Engage the right agent with the skills, knowledge and expertise to execute the marketing plan! I am all ready to share with you more in person!
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