One of the most important tasks when you put your property on the market is to first identify your target market because, in order to maximise your sale price and sell quickly, your property needs to appeal to the right audience. In this blog I offer three tips to get you there.
You need to identify who your target market is. You may think this is obvious, but research may suggest that it isn’t who you think it is or may show that the market is wider than you imagine. The larger the audience is, the better the chances are that you will sell quickly and as close to your asking price as possible. Scour the press, magazines and the internet for stories about the property market. Watch property related programmes such as Location, Location, Location or Escape To The Country. These can provide valuable insight into trends in what different demographics are looking for. Speak with a variety of local estate agents to ask what kind of buyers have been buying your kind of property.
What Do They Want?
Once you have researched your target market and know who is most likely to buy the property, consider what is on their wish list in terms of what they want from a property. The starting point is to ask yourself what made you buy the property, often the factors that made you buy a property will be precisely what your buyers are looking for. The point of this is that you may need to make changes to maximise the potential of a property. For example, creating additional off – road parking.
If you have identified your target market/s and what they are looking for you then need to present the property in a manner that is most likely to appeal to those people. Even if you are aiming at a fairly clearly defined market such as families, it is always best to try to present your property in a such a way that it will also appeal to a wider audience or least not alienate them. This is where employing a professional hone stager or property stager will add value.
I have bought several properties, I have also worked in estate agency both as a Viewings Representative and as a Sales Negotiator so I have a lot of...