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Five Strategies To Market Your Property
« on: August 19, 2016, 10:34:08 PM »
Five Strategies To Market Your Property

When most people decide to put their property in the market for sale they actually want it sold as fast as possible. Sometimes this happens. Often times  there is a waiting period because the conversion of land to cash often follows a process and a key aspect of the process is marketing.


If you hand over the sale of your property to a professional then the job and cost of marketing the property falls on them. However, for both professionals and owners who decide to market their property themselves, there are basic ideas worth considering that could increase your success rate significantly.


Put a sign on the property


One of the simplest steps to take is to put a sign on the property stating ‘for sale’ or ‘for enquiries’ and include a contact telephone or cellphone number .This should be displayed conspicuously on the property. Sometimes several agents are given the instruction to market a property and they may all decide to put up their banners on the property. This could actually become unwieldy especially if the issue of price is not fixed and there is the possibility of conflicting information and unhealthy rivalry. One or two agents banner at most should suffice.


Advertise


You can advertise the details of the property you have for sale on regular newspapers ,like The PUNCH, especially on the days they usually focus on real estate. You can also advertise on newspapers that are specifically focused on real estate and there are a few of them. Your advert could come with pictures and description of the building, type of title and your expected purchase price. Of course all these comes at a fee depending on the medium you choose to use.


Please note that when you state price as ‘net’ it means that you are referring to your base price, that is, what you expect to come to you without any deduction. But when you use ‘asking’ it means you are open to negotiation. When you see ‘ONO’ it means  ‘Or Nearest Offer’. That is ,the seller is willing to consider a price that is close to the advertised price. FSBO means ‘For Sale By Owner’.


Use the Internet and social media


Based on the number of people on the internet and social media vehicles like Facebook, it is definitely a good platform to market any product cheaply and to a very large audience depending on your database. You never can tell who needs what you are offering and where they are especially these days when several Nigerians based outside the country are desirous of investing in the country. Somebody somewhere may just be looking for exactly what you are offering. So spread the news.


Tell your neighbours


Someone living in the same area or in the building is a good person to inform of your desire to sell. Surprisingly, some people act contrary to this .The advantages seems to outweigh the disadvantages. A person living in the environment does not need persuasion to buy a property in that area except the environment is a bad one and you are looking for someone ignorant of that fact enough to buy. This is of course unethical .Your neighbors may also have people in waiting who want to buy property in that area. And whether or not you inform them, they’ll end up knowing.


Offer a finder’s fee


If you want to dispose a property, you must keep in mind the fact that those who get you a buyer must be paid. You may choose not to pay them but that would remove the motivation for many would be unofficial marketer of your property. Or worse still, if you short change professionals on their fees on a transaction they’ll spread the word among themselves and would be wary about marketing any property you want them to help you sell.


The reason for this is simple: marketing of a property involves several costs that are difficult to account for in the process. The only consolation is the fact that the professional would be fairly treated. Tell people upfront what you’ll pay whether high or low. Do not expect or look for free services if you want a quick sale.


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NaijaSky

Five Strategies To Market Your Property
« on: August 19, 2016, 10:34:08 PM »


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