15 Pyalla Street
3 Bed 1 Bath 2 Car
Like all successful campaigns, they start with the agent knowing exactly what the vendors needs and what their goals are. For 15 Pyalla it was no different, we spoke about their situation, where they were going to next and what they like about the home and not. Initially, prior to our meeting the vendor was very against auction campaigns due to an overwhelming bad media and press around them. Like most people that only sell a property once or twice in their life, up till now they relied on the media for education not understanding the pros and cons of each method.
We spent 3 hrs discussing the their needs and the best process to achieve a great result in the shortest time frame. We all agreed auction was the best method of sale and a full marketing campaign strategy was required. The biggest misconception they had about the auction process is it was only a “set and forget” method that currently wasn’t doing well in the media. They were not aware of the advantages with setting an end date and that you actually can sell prior and use in negotiation.
A major point we spent a lot of time on during our initial meeting was “what do we do if we receive offers early” and what’s important to them in daily updates. This helped dramatically because they felt comfortable with the process when we started negotiating early. One thing I do will all my vendors is contact them at least once a day to let them know if we are on track or not. This is important when pre-framing offers received.
With all campaigns the biggest hurdle is getting potential buyers to your home. One thing a lot of agents will do to win business in a slower market is reduce marketing spend. I explained to our vendor it’s actually more crucial than ever to get your property noticed above all others and reducing marketing spend will not accomplish this. A small investment now pays dividends in the final selling price. With this said our vendor agreed to the full campaign recommended which included a premium listing on Domain, realestate.com and also Facebook.
Over the course of the campaign we saw an overwhelming 207 enquiries.
Over the first open we had 30 groups through the property and over the following week another 24. Before our third Saturday could take place we sold prior to auction.
14 days is what it takes.
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