BACK TO ALL BLOGS

Marketing To Benefit The Agent Or You and Your Home?

When selling your home , serious consideration needs to be given to the marketing price of your home, is the marketing price to attract buyers or generate business for your agent?

Price for Attention, Not a Negotiation Room

One of the biggest frustrations we hear from viewers is being encouraged to book a viewing on a property advertised significantly below its Home Report value, only to discover that the price they would realistically need to offer is beyond their budget.

Our concern is that pricing a property way below its Home Report value can mean it attracts the wrong buyers — while potentially missing the right ones.
For example, a buyer with a maximum budget of £200,000 will typically search for properties listed at £200,000 or below. If a property has a Home Report value of £220,000 and the expectation is to achieve over home report but your home is marketed at Offers Over £199,000, most buyers would have reason to believe it is within their budget.

We have spoken to a number of sellers this year who have sometimes had in excess of 20 viewings and in some cases 30 viewings and some have set closing dates but did not secure the offer they needed from a buyer who was in the right position to move forward. Your time is precious, a buyers time is precious and our aim is to book in viewers who can afford to buy your home.

A potential buyer could book a viewing, take time off work, travel to the property and begin to imagine themselves buying it — only to discover that, realistically, they cannot afford to secure it.
Some agents choose to advertise properties well below their Home Report value to generate a high volume of viewings. But we think it is worth asking: who is that strategy really benefiting?
A property advertised £15,000–£30,000 below its Home Report value may generate plenty of attention. But if a significant proportion of those buyers cannot actually afford to purchase it, are they really the right viewings?

There is another consideration, too.
Every additional viewing gives an agent an opportunity to meet another potential client. That includes buyers who may be told they cannot afford the property they have just viewed, but who could potentially sell their own home, arrange a valuation or become a client in the future.

In other words, a strategy designed to generate large numbers of viewings can also create more opportunities for an estate agent to generate valuations and future business. Marketing a home much lower than home report value is also great to 'show off the stats' for instance the stats from Twenty EA will not calculate the price achieved over home report, it purely calculates the price achieved over the marketing price.

Generating more viewings doesn't necessarily mean putting your property in front of the right buyer.

We believe there is a better approach.

Our aim is to attract the right buyers — not simply more buyers.
Your time is valuable, and preparing your home for viewings takes time, effort and often a fair amount of disruption. The last thing we want is for you to repeatedly prepare your property for viewers who were never realistically going to be able to purchase it.
We believe your marketing strategy should create genuine interest from buyers who have both the budget and the intention to proceed.
That means pricing your property in a way that attracts the buyers most likely to be able to purchase it — rather than simply maximising the number of people through the door.
The right price gets your property in front of the right people. And that's what matters.
We will always put your best interests first, because a successful viewing isn't simply about getting someone through the door.
It's about getting the right person through the door.
If you are thinking of selling or buying give us a call we would be delighted to chat to you.