PROPERTY MATTERS
There is a strong argument for creating maximum exposure for a property during its time on the market, and much of the effort and resources of a good estate agent are spent achieving the right exposure in the right places. However, one of the most powerful ways of securing a fast sale at a high price can actually result from minimal exposure – or rather exposure only to a select few!
It works by taking advantage of the fact that people enjoy being offered something on an exclusive basis, especially when it is a property that is “just about to come onto the market”. So, offering new instructions “offmarket” to pre-registered “hottest” buyers first, can often result in sales that were never even advertised! Additionally, agents who are able to credibly promote to potential buyers that they also have properties that don’t appear on their website or any portals creates a curiosity and a feeling that the buyer could be missing out on something good. This encourages buyers to register their search criteria directly with the Property Manager so they can then gain access to a potentially popular property with little or no competition. The prices achieved using this method tend to be good as well, as buyers of such a property know that (a) it is unlikely that the seller would consider anything other than 22 | LINLITHGOW
the asking price during these early days of marketing and (b) don’t want to lose out.
Many sellers like the idea of an initial period of quiet marketing too, especially in instances of a marriage break up, a death in the family, a prominent house in a small town, financial difficulties or any other reason where people don’t yet want it to be publicly known that they are selling. The concept also reduces the risk of overexposure or of the property “going stale” on the market. Of course, it does rely on a strong register of qualified buyers, extensive knowledge of the local area and some ‘good old fashioned estate agency work’ which, in the days of a heavy reliance on internet advertising, is often overlooked. The monthly Property Matters column is contributed by Craig Turpie. Craig is a director at Turpie & Co Estate Agents and Letting Agents with extensive knowledge of the West Lothian Property Market and over 20 years experience in bespoke sales and marketing. @KonectDirectory