Know the market; before you're on the market
Before we bring our client properties to market, we preMarket them to validate market demand and pricing. This is a critical step that's missing from conventional real estate marketing. Typically, properties go directly on the market without any prior market validation, in the hopes of determining market interest and securing a hopeful sale, at the same time. However, properties not in line with market expectations take longer to sell and don't achieve optimal prices.
We preMarket our client properties to capture valuable market feedback and make necessary adjustments when it matters most – before a home is on the market.
Reasons to preMarket your home
Attract Ready Buyers
At any given point in the market there are a finite set of motivated buyers, primed and ready to buy. These buyers are keen to learn about new properties coming to market. Our preMarket provides a way of exclusively capturing those ready buyers by giving them an opportunity to preview and assess our client properties before they're on the market.
Obtain Market Validation
Giving buyers and others, an opportunity to preview and assess our client properties before they go on the market not only helps us confirm the right pricing and positioning, it also creates invaluable market validation. Buyers considering our client properties have the added reassurance that pricing, and other aspects of the property, have been verified by the market. It’s a powerful form of social proof.
Protect your Price
When a seller brings their property to market, they're essentially asking the market for its assessment. They're using the MLS® as both the test market and the final market. This can have a depreciating effect on a property's perceived value, since how the market responds to that property is on display for all potential buyers to see and utilize to their advantage. Knowing the market's assessment of a property, before it's on the market, helps protect our clients' market position; which allows them to secure an optimal price.
Our preMarket Process
Even before we showcase our preMarket properties for the market to preview and assess, we ensure they are market-ready.
Comparative Market Analysis
As part of our standard service, we provide our own comparative market analysis in advance of the market assessment we receive through our preMarket efforts.
Along with our comparative market analysis, we arrange to have our client properties professionally assessed by appraisers specializing in the area that the property is located in.
Addressing any maintenance or repair issues ahead of our client properties going on the market is key. Eliminating the chance of any surprises is essential when entering into negotiations. To address that, we arrange to have one of our highly qualified home inspection partners, carefully inspect the properties we bring to market.
The benefits of professionally staging a home in line with current trends and the expectations of the market, is well documented. We enlist the expertise of our staging partners to work with the individual requirements of each of our client properties, to showcase their unique features and attributes in the best possible light.
Collecting market feedback to validate the demand and pricing of our client properties is the essential part of our preMarketing efforts. That activity centers around our preMarket Open House events where buyers, neighbours and industry stakeholders are invited to preview and assess our client properties.
Once we’ve determined the market-ready date for our client properties, we initiate a coordinated effort to notify various market segments of the preMarket status and invite them to attend the our preMarket events. To do this we utilize a number of market channels and devices:
- Email Marketing
- Online Advertising
- Social Media Engagement
- Direct Mail Invitations
preMarket Open House
These are key events where the market provides its valuable in-person assessment of our client properties. Information is gathered anonymously allowing attendees to provide unfiltered feedback., free of any influence or interference.
preMarket Realtor Tours
Unlike conventional Realtor tours where the property is already on the market, our preMarket Realtor Tours are an exclusive opportunity for industry stakeholders to preview and assess properties for their buyer clients, before they’re on the market .
Neighbours are an under-utilized segment of the real estate market. Almost all properties typically go on the market without the valuable input and insights of nearby homeowners with vested interests in the community where the subject property is located. Their involvement is crucial to our preMarket efforts.
- Mailed Invitations
- In-Person Canvassing
Properly positioning our client properties in line with market expectations is what our preMarket efforts are all about. At this essential stage we are focused on three key activities:
Review Market Assessment
With market feedback now gathered, we review and assess the expectations of the current market to determine how best to position our client properties for a successful sale.
Address Market-Ready Requirements
If any additional staging or property conditions issues are uncovered during our Validate stage, we make sure to remedy them to ensure the property is as market-ready as possible.
Confirm Property List Price
In many respects, the decisive benefit our preMarket efforts is reflected in arriving at an On Market list price that has been validated by the market. With that established, our client properties are ready for market.