April 05, 2023

Why creating competition is vital


The Sunshine Coast property market has experienced unprecedented growth, continuing to attract local, state and national attention despite the global pandemic. And while soaring interest rates continue to impact mortgage holders, the Coast’s property market is still one of the most attractive in the country. So, how do vendors ensure their property shines amongst the rest? More importantly, how can they secure the best possible price?

Agent of 32 years our Principal Ross Cattle says the only way to secure a premium price for your property is to create competition. The key is to adopt a holistic, well-planned marketing approach. “It’s always important to reach every potential buyer and the only way to do this is to work with an agent who understands the value of a multi-faceted marketing strategy,” he says. “Adopting a solo online marketing campaign can narrow your exposure. Remarketing, database and print publications play a major role in increasing this exposure to a wider audience. More exposure creates competition by attracting more buyers, which in turn, secures a higher price. “This is why my philosophy, which forms part of the DNA of our sales team, is to use the biggest net to catch the most fish. Yes, it requires more work on our behalf, but it leaves no stone unturned.” Ross says while COVID did impact agents and the overall industry to some degree, the market was bolstered in 2021. “The attendance to open homes and auctions was huge. Our auction success rate climbed to perfect numbers, but I could see the mistakes being made in the overall market by agents and agencies, and I wanted to make sure we didn’t make the same mistakes. This mistake was the act of selling too fast. “It was costing vendors hundreds of thousands of dollars. Owners mistakenly thought that selling in one day was a great result. “In reality, selling quickly weakens the result. We advised owners to adopt a four-week strategy that had extensive reach through not just the local community, but the country. By doing this, we created a platform for multiple buyers to bid openly against each other via auction and this resulted in great success for everyone. “When I sit down with a seller who is going to the market and I explain what we do and why, it’s an easy step forward to signing the agency agreement. When you understand the reasons our team at Define is able to achieve such success, it’s then you can truly understand the effects of good marketing, and the effects of poor marketing.