Research -> Marketing and sales strategy

Nowadays, the value of a property is often realised by a marketing strategy, with selling one of the key components. The right strategy is the pathway to price maximisation, whereas a property is always undersold when the wrong or poor strategy is adopted. Given the cost involved and the transparency of the property market nowadays, marketing and selling a property is becoming an “one-shot” exercise to a certain extent.  Property sellers need to be aware of the importance of a right marketing and sales strategy before their properties being taken to the market.

Marketing is “the management process responsible for identifying, anticipating and satisfying customer requirements profitably.” (Defined by the Chartered Institute of Marketing). An effective marketing strategy heavily relies on the understanding of the market, the psychology of the customers, salesmanship, even some units of mathematics and economics. Marketing a property is not simply advertising and selling which often results in the trial and error situation. It is more and more treated as science and fine art, so that the whole process is precisely designed before the marketing campaign is launched in the way to maximise the final result.

The marketing campaign is often designed and later executed by a salesperson. Therefore, it is crucial for the salesperson to understand the theories and ideas, and the nuts and bolts. In addition to that, the determination of the salesperson to fully execute the marketing strategy to achieve a premium result is a key element of a successful campaign.