Top tips for vendors in a tight market

27 May 2024 The Lodge Real Estate Team


Top tips for vendors in a tight market

Managing Director Jeremy O’Rourke has some wise words for vendors in this current market, and his take home message is - it’s all in the detail.

A strong marketing campaign is crucial

“With 1,050 properties on the market, it is absolutely crucial that your agent implements a strong, targeted marketing campaign,” says Jeremy.

With first home buyers still the most active market, Jeremy says your agent should be “fishing where the fish are” – advice that goes for all segments of buyers.

“Ask your agent how your property can stand out in the crowd. They should have a thorough understanding of the portion of the market your property appeals to and turn over every rock to find a buyer.”

A Lodge marketing report is also a useful guide to see how your property’s marketing is faring. In addition to highlighting your listing’s audience reach, it outlines similar properties for sale in the area, feedback from open homes, and other general market conditions that can affect sales.

Price your property tight to the market

If your agent understands the current market (as they should), they can provide guidance on the right pricing to hit the market and make an impact upfront.

“Buyers want certainty in this market,” says Jeremy. “They want to know the price range they can play in, and your agent will be able to advise on a price that will create certainty, but also a sense of buyer urgency.”

Presentation is everything

Details matter more than ever before, and in a tight market, discerning buyers want to see an immaculately presented house. 

“Listen to your agent’s advice and do those small touch-ups. All the little things you get used to, like the cobwebs on the front door and the chipped paint on the skirting boards, can be a big deterrent to buyers.”

Jeremy says if your agent isn’t telling you what needs fixing, then get a new one because they haven’t looked hard enough.

He also advises to seriously consider staging your home.

“Buyers need to imagine themselves living there, and if there’s two homes in contention for them, it’ll be the home that’s staged that wins out.”

Finally, be aware that buyer word of mouth is very real. “It’s stronger than ever. Buyers talk among themselves and are on top of what’s new to market every month.”

While we may be in a tight market, achieving a good sale price is eminently doable. You just need to have the best on board to get the right results. Get in touch with us and let us help.

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