Price is a major factor in marketing and it is important that you and your agent get it right.
Since all negotiation experts say that if you want to get the highest price you should start high and then come down until the right buyer is found, it stands to reason that price is a very important factor in effective marketing.
Every week you and your agent should meet to discuss:
- The week’s marketing – what has been done, and what enquiry did it generate?
- Discuss individual enquiries and what they had to say about the property. This includes those who talked with the agent about the property even if the discussion did not result in an inspection.
- Weekly Price Review – is the current price attracting interest? Have any offers been made? At what price should the property be offered in the coming week?
Try not to get too ‘hung up’ on price. In marketing, price is like bait is to fishermen – if one type of bait isn’t working, change the ‘bait’.