Ever wondered what it takes to score top dollar for your Canberra property?  While some (actually many) vendors think it’s just a matter of finding an agent and listing their property, there’s a lot vendors can do to help ensure the odds are stacked in their favour.  It’s all about strategy and boy do I have a brilliant example of sales strategy at its finest! Introducing 22 Sheehan Street Pearce, a leafy, prestige property I recently prepared for market and which was sold by ndependent Property Group Woden‘s Jonathan Charles and Mark Wolens.

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While you might think the property would have virtually sold itself with its prime location backing onto Mount Taylor, its stunning terraced landscaping and heated saltwater pool, climate controlled 2500 bottle wine cellar, cararra marble kitchen, bathrooms and ensuite and so on – the vendors weren’t about to take any chances and did everything possible to get the best result – smashing the former sales record for Pearce by a whopping $800K+!

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So what do I mean by strategic approach?

1. Address maintenance issues

Vendors must go over their property with a fine toothcomb and address everything from the paintwork right through to the tiling and landscaping.  It’s natural for homeowners to develop a blind eye to certain flaws but always remember, a discerning buyer sees the property with fresh eyes and will seize on flaws in an effort to secure the property at a reduced price.

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2. Know the local market – timing is everything

When I first met vendors Stan and Susan Platis and their agents, it was clear both parties had done their research on the local market.  For prospective vendors it is also worth inspecting homes you would be competing with directly – attend the open homes and listen to the feedback from prospective buyers so you know what they’re looking for.

Timing for the marketing campaign is also vital.  At one stage early April was proposed for the Sheehan St property.  I advised against this timing on the basis that the leafy green landscape was among the property’s greatest assets (particularly after the Canberra heatwave) and as such, needed to be captured at its best.  An Autumn campaign would have also meant more work in maintaining the garden for open home with the leaves starting to fall.

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3. Preparing the property for sale     

Stan and Susan engaged me to style their property for sale having helped achieve exceptional results for them on one of their investment properties a few years back.  As they were remaining in the property throughout the sales campaign, they got me on board again.

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My services involved: reworking the layout of their existing furnishings for maximum impact (this also meant sending surplus furnishings and décor to storage for the next exciting chapter); supplying décor that was neutral but in keeping with the elegant yet relaxed style of the property; attending the photo and video shoot to ensure there was enough colour, furnishing and accessorising in each shot and tweaking as necessary; and coordinating delivery and collection of our hire décor and furnishings.

4. Effective marketing

So with the styling perfected it was time to get down to marketing the property.  Stan, Susan, Jonathan, Mark and I discussed the best ways to market the property.  Property of the week on Allhomes, major features in the Canberra Times and Canberra Weekly, as well as direct marketing and one of the finest auctioneers all formed part of the bullet proof marketing strategy.

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Initially we talked about just having photos of the property however, I suggested that video and drone footage be considered to provide visual impact.  For vendors going to the extent of pre-sale styling (whether it’s full scale styling or styling with vendor’s furnishings), I highly recommend going the extra distance and producing video footage for the following reasons:

Styling is about creating a lifestyle and there’s no better way to present that lifestyle than a video as far as I’m concerned.  It gives prospective buyers the feeling of walking through the property and what it might be like to live there.

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I’ve also found it to be an incredibly powerful tool for the prospective interstate or overseas buyer who might not be able to make it along to an open home.  The video can also include location footage to showcase local cafes, schools, parks, waterways, public transport options etc to give them a better sense of the broader location.  I have plenty of examples where properties have been bought ‘site unseen’ and on the basis of photos and video alone.

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 The use of drone technology (remote control chopper with camera) is a brilliant way to capture a stunning location from above.  With Stan and Susan’s leafy locale backing on to Mount Taylor, I considered drone technology an absolute must.

So, armed with brilliant images and elegant video work, plus all the right advertising mediums, the team got off to a flying start in luring prospective buyers to the door.  Just quietly, the team attracted some 20,000+ unique hits on Allhomes and had some 1000+ people through the door over five weeks and five open homes.  We must have done something right!

5.  Keep communicating with your agent once property has gone to market

As a stylist, I am constantly keeping in touch with my vendors/agents to see what the feedback is and if there is anything we need to revise to address that feedback.  You will find buyers out there who are hell bent on finding fault with a property to improve their bargaining power but if the same feedback keeps coming up, pay heed to it and take it as an opportunity to strengthen your marketing campaign.

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6. Prepare for a brilliant result

If you’ve done all of the above (and your agent may have some other tips), you’ve done absolutely everything possible to secure the best possible result.  All that is left to do is stay focused and prepare for success!

Images: Independent Property Group Woden