There’s an old saying that says “You can’t sell a secret”, so today we’d like to talk to you about why not advertising your property is a big mistake when you sell.
Here at Ian Reid’s Vendor Advocacy, we’ve seen all sorts of different kinds of property market conditions come and go over the years. We’ve seen low interest rates and high interest rates; we’ve seen markets where housing finance has been incredibly difficult to get; we’ve seen buyer’s markets and we’ve seen strong seller’s markets, just like the Melbourne market has been experiencing in recent years. But one thing we’ve noticed over the years that is that when conditions become favourable for sellers, some vendors make the mistake of assuming that they don’t need to worry about promoting their property too much. They assume that the buyers will find their property, not matter what. Sadly, this approach can be a very expensive mistake.
Not advertising your property can mean not selling your property
Not advertising your property is one of the biggest reasons that homes don’t sell. In most situations, the biggest reason a property doesn’t sell is because the price is too high. However, even if your home is priced perfectly, (or even below that), it won’t sell if nobody knows about it.
You can’t rely on a photo in your agent’s window to attract a flood of buyers. These days, buyers don’t go window shopping from one agent’s window to another looking for a home to buy. In fact, many buyers today may never see their agent’s office until they pick up the keys on settlement day. Buyers go shopping from home on the internet, they’re reading the newspapers, and they’re coming to advertised opens for inspection.
Not advertising means not maximising competition
Let’s face it, selling for the highest possible price is all about creating competition between the widest possible pool of potential buyers. For your own peace of mind, if wider you advertise your property the more potential buyers you will reach. That’s why you should be wary of agents who don’t charge for advertising. They won’t promote your property adequately and fewer buyers will know about it. The chances are you won’t sell, or you will only achieve a sale once the price comes down over time, and it sells itself.
Avoiding other mistakes when you sell
Not advertising your property is just one of the traps we talk about in our free booklet, “Fatal Real Estate Traps Exposed”. If you’re keen to avoid this and many other costly errors when you sell, you can download a copy of this information right now. Or if you’d like a copy sent out to you in the mail, why not have a quick chat to one of our helpful team members by calling us on 1300 400 400.