A challenging market is a time when good agents thrive.
Don’t get me wrong, it can still be a tough period, but it’s also a time that excites them.
It’s when their skills, resources, personal branding and all the hard work they have been putting in truly becomes apparent and sets them apart from their competitors.
A good agent has the foresight to look outside the box in a challenging market.
It’s a time where we need to be more creative throughout the whole campaign that we run to sell our vendor’s property.
Each and every property you list needs to be approached with a different strategy to ensure that you are maximising the chances of a sale. (Which also should be done in a hot market!)
In breaking down your approach to selling the property, you need to review every step along the way.
Consider your selling strategy.
Are sales in your marketplace conducted by auction?
How long are your auction campaigns?
Are you running a 2, 3- or 4-week campaign?
Consider this, do you need to extend the length of your auction campaign?
Essentially look at running a 5-week campaign instead of a 4.
Auctions create competition, urgency and give the selling plan a structure. Would an additional week give the property time to gather more competition and help buyers come to a decision?
All these factors need to be taken into consideration in a challenging market.
Don’t be afraid to get creative with your campaigns to give your vendors the best opportunity of selling their property!