What is your target market you are selling to?
As agents we get to know the different types of buyers and building as well. This means we understand our target audiences. Every single building has a slightly different market and what makes us experts at Apartment Specialists is being in the know.
An example would be if we were selling in a building with high percentage of Chinese owner/occupiers. I would then to market the audience as well as dealing with local Chinese agents and buyers.
Andrew Murray, Apartment Specialists, number nine - Knowing your buyer.
Now, what do I mean by that? Well, it's what we're here to do. As real estate agents, what do we do? We sell and we market. And to sell or to get those people to sell to, we've got to attract them - which means we need to know the type of audience.
For example, if your apartment is going to be most likely sold to an investor - we've got to target investors, and vice-versa with owner occupiers. Otherwise, you're most likely not going to get the best result. Yes, you could get lucky, but we're talking about most likely. Because again and again and again, we've got to be getting the best result for our vendors - which means we've got to know our market. Every single building has a slightly different target market.
For example, I may be selling a building which is 40% Chinese. Well, I'm European. So, how am I going to market to the Chinese? Well, what I do is, I deal with about 20 different Chinese agents. I deal with Chinese buyers' agents, and that's just to give an example. Also, what if a building is popular with the French? Well, I'll deal with the French buyers' agents, and vice-versa. There's a lot of different ways that we can market in this industry. And it's about knowing the right one for our vendor's apartment.
So ask your agent, what is the target market? How are you going to reach them? And how is that going to maximise the amount of enquiries and leads created? That is a huge, huge point that determinants how much will you get for your apartment.
Anyway, hope this helps and I will talk to you soon with the other theme.