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Selling a property? It’s all about FOMO

Selling a property might feel complicated, but at its core it comes down to one key thing: FOMO. That’s right if you want your property to sell quickly and for the highest possible price, you want to foster a fear of missing out.

You want potential buyers to fall in love with your property and then feel genuine fear that if they don’t act quickly and offer a good price, their dream home will go to someone else.

But how exactly do you create that sense of FOMO?

Know your property’s POD

Creating FOMO starts by identifying your property’s point of difference. In other words, what’s unique or special about it and who is it likely to appeal to?

Understanding a property’s point of difference is the basis of any great marketing campaign, allowing your home to stand out and appear special in its specific marketplace.

Great marketing

Great marketing is an essential part of any successful property sale, and it’s also a key way to create FOMO.

This marketing campaign begins by knowing who exactly your property will appeal to and where they hang out.

Then it’s about showcasing your property in a way that’s likely to appeal to these buyers. This marketing campaign includes an array of ingredients, such as:

  • Great photography
  • A standout property description
  • A video walkthrough of the property
  • A floorplan
  • Targeted advertising on social media, property portals, real estate websites and in traditional media

The aim here is to generate as much interest as possible. You want people clamouring to see the property in person and attend that all important open home.

Forging a connection

The open home is the chance to really showcase your property at its best. And the ultimate aim here is to have potential buyers forge an emotional connection with the home.

You want them to envisage themselves owning it, living there and spending time in the property, because the more they connect with the home, the more attached they become to it.

When there’s emotional attachment to a property, there is also a growing fear of missing out on something they love.

So how do you build that emotional connection?

Style your property in a way that’s inviting but not overly personalised. It should have finishing touches like flowers, nice aromas and carefully chosen soft furnishings but be free of clutter and too many personal items such as knickknacks and photographs.

Creating competition

Ultimately, the aim of the sales campaign and the open homes is to create competition. You want more than one party to be seriously interested in the property and then it’s your agent’s job to use this interest to your advantage.

Their role is to negotiate with the interested parties and create that sense that purchasing the home is a unique opportunity, time is of the essence, and that if they fail to take action, they will miss out.

How we can help

If you’re considering buying or selling a property and seeking to understand the current market conditions, why not chat with one of our friendly agents to understand how we can help?

Or feel free to enter your address below to get your instant property estimate.

 

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