A comprehensive marketing plan, constant feedback and regular review of the marketing performance revealed an aspect of this property that had to be addressed in order for it to be sold.
At CH Professional, our comprehensive property marketing plans address all four P’s of marketing: Price, Product, Promotion and Place.
For this specific property, there was an issue with the “Product” aspect of the marketing mix – despite large amounts spent on renovations. As part of our exclusive mandate marketing, CH Professional fixed the Product aspect for the seller, so that the property could sell.
This retirement property was called home by the owner, after we sold their family home in 2019. The owner however decided to sell, and gave us an exclusive mandate because of our good service on his previous property sale.
The Price, Place and Promotion aspects of marketing the property were all well addressed: We did a comparable market analysis to determine the correct asking Price for the property, given the Place where it was located. We applied an excellent Promotion campaign, running additional and promoted advertisements. In terms of Product, the owner spent around R300 000 on renovating the kitchen, bathrooms, new carpets, a fresh coat of paint, and a study nook built into the second bedroom.
As a result of a well written marketing plan, we generated a steady flow of inquiries and viewing requests. We soon discovered during prospective purchaser viewings that there was still an issue with the Product aspect that made the house unsalable: feedback from clients were that the second bedroom seemed too small.
During our weekly marketing feedback meetings, this aspect of the property was discussed with the seller. Because of the study nook that was built in recently, and the absence of any bed in the room – clients visual perception of the room was that it is too small (despite the room actually having sufficient space for a large bed). The seller was already in the process of moving, and did not have an extra bed to put in the room.
CH Professional implemented a solution that resolved the problem and soon led to the sale of the property. We staged a queen size bed in the second bedroom, to demonstrate the size of the room and remove potential buyers’ mental barriers against that aspect of the Product. The property was sold shortly afterwards.
Contact Chrisjan or Christie if you want a professional estate agent to sell your property quickly, at a high price.