Describe the strategy you would implement to best discuss potential buyers and effective market strategies with your vendor?
Explain why it is important for an agency to discuss potential buyers with the vendor?
(a) Describe two benefits gained by effectively marketing a property for sale?
(b) List five marketing strategies you would use to market a property for sale that is:
An industrial property
A commercial property
Explain why it is important to discuss the benefits of effectively marketing the property for sale with the vendor?
List eight effective market strategies used to advertise a property for sale.
Using the marketing plan created in Case Study 1, Task 1, describe four marketing strategies or activities you would recommend to all vendors. You are not limited to only using the marketing methods listed in Case study 1 but you must focus on what marketing strategies are most effective and cost efficient.
Describe the purpose of a property inspection?
Describe the importance of having the vendor agree to the marketing plan before implementing it? What is the best method to discuss the marketing plan for the vendor’s property?
(b) Copy and paste, two sections from the Property, Stock and Business Agents Act 2002 covering guidelines on advertising/marketing properties.
(b) List three legislations or regulations that govern the Real Estate industry, excluding the Property, Stock & Business Agents Act 2002.
List three personnel who will be involved in marketing a property for sale and briefly describe the role and responsibilities of each personnel during this process.
Describe how you would ensure all marketing activities are being completed inline with the agreed marketing plan and budget, including ensuring all personnel involved are successfully completing their role?
As a sales agent you must regularly advise your vendor of any changes or updates to their property for sale when it is being advertised. List five potential changes or updates you may have to inform your vendor of whist marketing their property for sale?
What is the risk of not informing your vendor of any changes or updates made to the marketing activities of their property?
Assess the marketing plan created in Case Study 1, Task 1, describe the changes you would make to the marketing plan based on the following:
(a) The vendor revised the budget to $1,500.00.
(b) You’ve wasted $400.00 on printing brochures that had spelling mistakes.
(c) The vendor and your agency have agreed for another agency to conduct the weekly open houses for the property.
(d) Vendor requests for the property to be sold within ten days only.
Describe three methods used to collect information on the effectiveness of marketing strategies. How can the agency then use this information?
Create a feedback system/s in line with agency practice, that can be used by an agency to collect data on the effectiveness of three marketing activities used by your agency.