We live in an age where technology is breaking down barriers across many frontiers. You can buy almost anything you need online, without ever having to visit a brick-and-mortar store. And for every product or service, there’s a good chance that buyers and sellers can use the internet to connect, eliminating the middleman.
There are many benefits to selling your property as an owner, starting with the significant fees recouped. But it’s still going to be difficult when you decide to skip the assistance of an agent. Here are some strategies you can borrow from a business marketing perspective to help you connect with the right buyer.
People continue to spend more time on their devices; inevitably, some of that is diverted toward shopping. Working from home has only accelerated the push towards e-commerce. Not satisfied with the purchase? Companies will outdo themselves to make the returns process as smooth as possible.
As a result of this competition, online businesses analyze every aspect of their e-commerce setup to generate leads and turn those into conversions. And it’s becoming quite apparent that in a purely virtual environment, imagery plays a significant role in attracting customers. Without any means of interacting with the actual product, online visual merchandising tactics are an effective substitute for the overall experience.
The same tactics can be carried over from the realm of e-commerce to your efforts to sell your property. Make no mistake; visuals can’t cover up flaws. A serious buyer will eventually come around for an inspection. But underwhelming photos can do a real disservice to your property.
If you’re out of your depth considering the best options for viewing angles, lighting, and creative editing, it’s best to bring an experienced property photographer on board. They will know how to bring out the best in every image, which will translate to collateral that drives up the interest of prospective buyers.
Connect with the right buyer
Every successful business starts with a great idea. Ideas for products and services are essentially solutions to existing problems. But entrepreneurs don’t succeed solely on the strength of their concepts. They won’t win over investors or maintain profit margins if they are unable to connect with the right audience.
In real estate, you might be able to generate interest from buyers through various improvements to your property. A luxury master bathroom or bedroom upgrade, functional additions such as a home office extension, or cost-saving measures such as energy-efficient windows can all offer a good return on investment.
However, costs are a consideration on both sides of the equation. Each upgrade carries a risk of effectively alienating prospective buyers who don’t need the extras. The more you sink into home improvements, the more you price out buyers for whom your property no longer represents the right combination of features and value for money. That’s only a good idea if you’re deliberately pushing your property into the luxury market.
Businesses invest in marketing and hire a creative agency to connect with the right audience through multiple channels. Using the same approach, you can harness a greater impact in terms of ROI by increasing the number of channels through which you can potentially find the right buyer. Put up a dedicated website along with property signs; promote your online listings on social media; don’t overlook tried-and-tested print advertising.
Overcoming new challenges
Today, you can hardly find any business that has been untouched by the pandemic. Many have closed or temporarily put their operations on hold. Others have downsized, putting workers on extended furloughs or attempting to retool their hierarchies. A few have managed to thrive off the shift to remote work.
The pandemic might have had a beneficial effect on the real estate market, at least from a seller’s perspective. We’ve seen a robust increase in demand in many areas. Combined with a lack of inventory, you can expect prices to rise in the future.
But fear of the transmission of disease also makes it harder for buyers to view homes, or for sellers to feel comfortable about letting strangers onto their property. In this sense, you’re dealing with the same problems that many businesses also face.
Potential solutions come from the auto industry. After all, a car is often the next-biggest purchase for the average household. Buyers also want to conduct extensive research and in-person testing before they commit.
Thus, dealers are getting creative; they offer video tours and interactive online support. Some will even have the model delivered to your address for a test drive. You might not be able to go that far, but exerting creativity in this way will help more buyers get a good look around your property without having to visit.