What most vendors overlook and how it's costing them big! — 7 reasons to provide data and sketches when selling your property
If you’re selling a property you need to stop thinking like a vendor and start thinking like a buyer. Ask yourself: what is it that is important to my buyer? Understanding what your buyer needs is the key to maximising value in your sale.
The most important thing a buyer needs is certainty - you wouldn’t buy a car without a spec sheet so why would you buy a property without data to back up your purchase decision?
Most property vendors worry most about the presentation and the furniture - it’s a bit like selling a car and only worrying about the paintjob, the interior trims
What buyers really want to know is what’s under the hood and when it comes to the property purchase the engine of capital growth is untapped development potential. If you can help your buyer understand the property’s potential you might just turn them from a window shopper to a committed buyer. If your buyer thinks they are buying something with nice trims and new paint but are unaware that they have a powerful engine under the bonnet then you might just be leaving a lot of money on the table when selling.
Here are 7 reasons why providing the buyer with property insights thanks to a design and feasibility consultation and report is a good idea for a vendor:
Helping Buyers Visualize Potential is a Powerful Tool
You can talk as much as you want about development potential but it’s really what your buyer sees that really makes sense. People are normally not great at visualizing things - you need to lead them there. Developers know it and spend a lot of money on computer generated images. The more you can show buyers visually the better.
Selling Confidence: Why Buyer Empowerment is a good thing for Vendors
Empowered people feel good about a decision they are about to make, this becomes a positive process. In this way Buyers equipped with detailed property insights feel better because they are better informed. The more a buyer knows about a property, the more confident they feel.
When people are empowered with knowledge, they have a heightened sense of confidence in their decisions. This not only makes the buying process more enjoyable but also ensures they’re making a choice they feel good about.
Assistance for Hesitant Buyers:
The Gentle Nudge: There are always buyers who are on the fence, uncertain if they should commit. By providing them with more insights and information, vendors can gently nudge these hesitant individuals towards a purchasing decision.
Sometimes, a little push in terms of information can turn a fence sitter into a committed buyer.
Validation for Buyers who are already keen
Many buyers are already in love with the property or its location. By offering them positive insights, vendors can further validate their interest and passion. The more information they find that supports their decision the better they feel about it.
Overcoming Buyer Fears:
Fear often arises from the unknown and a lot of the time its easier for buyers to turn away than to face those anxieties. A buyer's anxiety can be addressed by providing them with comprehensive property information. This ensures they aren't worried about unexpected surprises or feeling out of the loop.
Differentiation in the Market:
Offering in-depth insights about a property can make it stand out among numerous listings. Such uniqueness piques the interest of potential buyers. Think of that brochure from a car dealer - it’s got a list of specs, do you read these carefully? Most buyers just want to know that the information is there. An informed listing is more appealing to discerning buyers, ensuring your property garners more attention.
Empowerment of Real Estate Agents:
When real estate agents are given information they can lean into this and use it to create value in the sales process. They're better positioned to upsell and maneuver effectively through negotiations. It also helps agents to respond to complex and vague queries with increased certainty, eliminating guesswork.
Here is a cheeky link if you want to book a Design Consultation. ;)
