Real Estate Agents and Reps often talk about the 4 Pillars, or “4P’s” of selling property, these being: Price; Promotion; Presentation; and Process.
I use the word ‘talk’ deliberately, because in my experience there’s a big difference between Reps who talk about the 4P’s versus those who work with their client to put in place a strategy and plan to actually execute on them.
We know that in a buyers’ market like the one we’re in now, where there are just under 17,000 properties listed for sale in Perth alone, realistic pricing of properties is important – but pricing is only one part of achieving a successful sale. Poorly presented homes, an under-investment in marketing (promotion) and laziness or inattention to the evaluation and management of the sales campaign and follow-up of leads (process) will all undermine the time it takes to sell a home and the eventual selling price achieved. For those of you looking to buy, a Seller or Sales Reps lack of attention to the 4P’s could mean the opportunity to purchase a property for less than what it might have achieved had the parties had their ducks, or in this case, pillars, in a row.
It’s my intention over the coming months to talk about each of these pillars and how you can work with your Sales Rep to get the best outcome when selling your home, or if buying, spot the weaknesses in a campaign and potentially get a better deal. Many of the pillars may strike you as obvious or simply common sense, but it’s amazing how often one or more of them is overlooked in the marketing and sale of a property. Whichever the case, it’s a reminder that price is only one part of the equation in a successful sale of a property and that shortcuts in, or inattention to, presentation, promotion and process are likely to lead to seller disappointment or buyer delight.
About the Author:
For some people there comes a time in life when they are able to combine their talents and passions and call it ‘work’ – Natalie Hoye is one of these people. Natalie is a real estate agent based in Mt Lawley, Western Australia. You can call Natalie on 0405 812 273 or send us an email via our contact form if you would like to speak with her.
Watch this space!