Following a recent discussion with a client who was selling his property, I was reminded of how much technical information and data is available to selling agents and how useful this can be when planning a marketing campaign for a property.
The client’s property had been on the market for some time but had generated little interest. I had a meeting with our Estate Agent who was responsible for the transaction and we conducted a full investigation into trends, prices and the typical purchaser of this type of property. We also looked at other available data – hits on the Tayside Solicitors Property Centre website, hits on our own website, the number of people accessing the Home Report, the number of people requesting schedules and we reviewed the feedback from a few people who had viewed the property. This enabled us to put in place a detailed strategy for the client which involved a slight price change. The reduction in price enabled us to refresh the mailing list and also send the updated information to all the people who had previously viewed the property or accessed the Home Report. We continued to monitor the data and it was interesting to note a spike in the activity around the property as soon as the price had been altered.
I am pleased to say that after two weeks an offer was received and negotiated to an acceptable level. Whilst there is no replacement for experience, enthusiasm and the skill of a trained property sales consultant, it brought home to me the importance of analysing all the technical data available.
When choosing a selling agent, vendors should explore the technology and data that is available to the estate agent.