Tossing up between on-market or off-market sales?
Let’s first establish the difference between the two. On-market sales are the result of professional photography, heavy advertising and open homes. They’re a fantastic solution to spread the word about your property to a large audience. Off-market sales, on the other hand, require no marketing and are often just advertised to your real estate’s extensive email database, saving you thousands in marketing costs.
You might be tempted to skip the hassle of marketing your property by selling off-market but before you decide we’ll debunk the hidden pros and cons of either option.
Off-market sales are a great way to minimise selling expenses for homeowners. Advertising purely to the database can save you thousands on photographers and online advertising platforms like Realestate.com.au and Domain.com.au. We can occasionally sneak a few buyers through your property after open homes or upon the buyer’s request but you might question if you’re really getting the best price for your largest asset. Some buyers are very rigid with their budget while others are not so much. If you confine your pool of buyers to a simple database, you will limit the selling potential of your home.
On-market sales are the result of marketing to the general public. Although it’s a small investment, it’s worth advertising your home in the best light with amazing photography to the largest audience possible. Our Principal and Director Mark Lawler often uses the analogy of McDonald’s to explain the value of marketing. McDonald’s pulls out all the stops to advertise a $5 burger – TV, radio and bus wraps. This is the attitude we believe you need when going to market with your home. We want you to achieve the highest price you can possibly get; which is why we believe it’s worth investing in advertising for an on-market sale to increase your return and achieve the true potential value of your home.
Which option should you choose?
The difference in the selling price you can achieve between on-market and off-market sales can be in the tens of thousands of dollars. Perhaps spending a couple of thousand to begin with could benefit you in the long run. If you’re still undecided on which option is best for you, come and talk to the team at R&W Coolum where we’ll help you develop your price guide strategy. At R&W Coolum, we believe in communicating and delivering the best outcome for all our clients.