Develop a marketing plan for the property that you will need to auction in Assessment Task 3 (whichis below ),
Dear sir/madam could you please help me how to create the marketting plan for this situation. Give me some tips.
Scenario: Mr and Mrs Robert Smith have lived in their home from when it was built. Now they need to downsize as they both have health issues - it is too large for them to look after. You are the real estate agent/auctioneer who will handle this property. Mr Smith has contacted you via email as you have come highly recommended by one of their friends.
1. You are to assume you have been sent an email by Mr Smith. This email will contain information about the property. You are to read this before moving on to the next part of this project. Mr Graeme Smith Hello Great to hear from you today and as we discussed these are some confirmed details of my property. ? It's a Brick Veneer property built in 2005 250sqm ? Double Garage with workshop ? 4 Bedroom with built in wardrobes ? 2.5 Bathroom ? Living dining Kitchen all open plan ? Fully appointed granite kitchen with Miele appliances ? Media room ? Laundry/Utilities room ? 800sqm block ? Full ducted a/c ? Timber shutters throughout floor to ceiling windows ? Well established gardens with patio and entrainment area off living room large rear lawn and established trees Kind regards Graeme Smith
Instructions: In this task you are required to conduct a simulated auction of Mr Smith's property. The auction was originally to take place outside the property in the gardens; however, unpredictable weather has led to the auction being conducted on the large covered outdoor decking. You are to assume that a 30-minute open house has already been held and you are now getting ready to set up for the auction. Your assessor will act out the roles of a bidder and also the vendor. Your friends/colleagues (as applicable) will play the roles of bidders. One person will pay the role of agency staff member, who will help you to set up and prepare the area. Ensure your personal presentation is professional and appropriate for the day
What you need to do: Develop a marketing plan for the property that you will need to auction in Assessment Task 3 Meet with the vendor to discuss the property and completed required documentation (role play with your friend/colleague). What you will need: Your friend/colleague (for the role play) The following documentation Vendor's statement Exclusive auction authority Auction reserve letter Contract for sale of real estate. What you need to submit: Advertising material of similar properties in the area Notes of research of the surrounding area List of local area attractions Marketing plan Completed documentation (Vendor's statement; Exclusive auction authority; Contract of sale for real estate). Instructions: Complete the activities below. Scenario Mr and Mrs Robert Smith have lived in their home from when it was built. Now they need to downsize as they both have health issues - it is too large for them to look after. You are the real estate agent/auctioneer who will handle this property. Mr Smith has contacted you via email as you have come highly recommended by one of their friends.1. You are to assume you have been sent an email by Mr Smith. This email will contain information about the property. You are to read this before moving on to the next part of this project. Mr Graeme Sowith Hello Great to hear from you today and as we discussed these are some confirmed details of my property. It's a Brick Veneer property built in 2005 250sam Double Garage with workshop 4 Bedroom with built in wardrobes 2.5 Bathroom Living dining Kitchen all open plan Fully appointed granite kitchen with Miele appliances Media room Laundry/Utilities room 800sqm black Full ducted a/c Timber shutters throughout floor to ceiling windows Well established gardens with patio and entrainment area off living room large rear lawn and established trees Kind regards Graeme Smith 2. Access a property database of your choice (such as realestate.com.au or domain.com.au] and research similar properties that have been sold within the past three months and that are also currently up for sale in the area. Look at the features and listed prices. Make some notes about what you learn about the properties for sale in this area, and print out three copies of similar properties in the area - you will need to submit your notes and printouts as part of your assessment. Your notes should cover things such as: architectural styles of homes in the area (are many properties renovated or still in original condition?) approximate age of properties in the area land sizes in the area properties that have been subdivided how many properties in the area have sold in the past three months average price of sold properties in the area number of properties are currently up for sale in the area (are they private sales or auctions?]. 3. Now access Google Maps and type in the street name and suburb where Mr and Mrs Smith's property is located. Use Street View and Satellite View to see what is in the immediate area (such as shopping villages/centres, schools, child care centres, parkland, arterial road access, medical centres etc]. Write down all the things that you believe would be attractive to potential buyers. You will need to submit this list as part of your assessment. Based on your research, come up with a suitable price range for the property.4. Prepare an auction marketing plan for this property, considering agency practices and ethical standards. Your plan must incorporate the following: a) A detailed description of the property to be auctioned, using your notes as a basis. b) Appropriate inspection times. c) Open for inspection times over a period of two weeks. d) Security/safety arrangements. e) Two strategies to advertise/promote the property. You will need to do some research and get the costs of each one. f) Write an advertisement for the property that you would use on your agency's website. Make sure it is free of errors, easy-to-read and accurately represents the property. g) Communication strategies with sellers, including frequency of updates. h) Communication strategies with prospective buyers, including how you would keep the buyer engaged and interested in the property. i) Process to be undertaken regarding offers prior to auction submitted by prospective buyers. i) Proposed outcomes of auction marketing. k] Post-listing conference processes. I) Auction day procedures
