The Rules Have Changed: Better Information is Better Marketing

The information revolution has happened and the rules of sales and marketing have changed.

Buyers now routinely do their own research online and have already largely made a decision about the product they want before they visit a store. This has resulted in buyers now having much more control in the selling process.

It’s the same with property.

Buyers will look online for information about properties available for sale. Those with better information are likely to be more attractive to potential buyers.

Getting property ready for sale.

But when it comes to getting properties ready for sale, many agents do not engage their selling clients about providing information about the condition of their property.

Our survey of the websites of major national real estate agency groups shows that none of them have any information for vendors about the process for establishing the condition of a property.

So we decided to do something about it.

Inspection reports can be expensive for buyers. Even though a buyer might like a property, they might not move to the next stage because of the high inspection costs.

We recently spoke to a couple who had seen three properties they liked quite a lot. But all three were to be auctioned on the same day and to do inspection reports on all of them would have cost $1,500. The couple ultimately made a decision to bid on only one property instead of deciding to pursue all three.

Two vendors lost a serious buyer and probably didn’t even know.

Sure, some buyers will bid without getting an inspection report. But would they bid less because of the uncertainty about the condition of the property?

Inspection reports can be valuable information for buyers if they are good quality and buyers can get follow up help. But they can also help vendors a lot. If buyers can get easier access to quality information and support, not only will this allow more buyers to properly check out a property but it also makes the process more transparent.

In some cases, agents arrange an inspection and then just hand out reports to buyers. But that doesn’t help anyone for seven important reasons.

In the information age better information means better marketing.

Find out how our service can make a big difference in the sale of your home.

Best Regards,
Michael Ferrier

At EYEON Property Inspections, we help you buy and sell with more confidence.