Measuring the ‘Health’ of a Property Campaign is Scientific!  

When selling a property, it's essential for selling agents to clearly understand how the campaign is progressing. Simply measuring home open attendance may have been sufficient in the past, but today's property market requires a more robust approach to measuring the health of a property campaign.

At Xceed, we take a scientific approach to measuring the selling journey, looking at all stages to ensure that we completely understand the metrics of every property campaign. In doing so, we can determine early whether we will have strength at the negotiation table on behalf of sellers and adjust the campaign if necessary.

One of the first things we look at is online engagement. We measure how potential buyers interact with the property listing, including whether they save the property or make an enquiry. By looking at these metrics and benchmarking the results, we can reliably predict the campaign's outcome, including whether there may be multiple offers - and the quality of those offers well before they arrive.

We also pay close attention to buyer behaviour. We look at how they engage with the property before attending a home open. Specifically, we look for actions that show whether the right level of emotion is triggered. This gives us an indication of whether the buyer is likely to make an offer or whether they may require a longer journey before making a decision.

Feedback from buyers who have engaged with us is also important. Our team is trained to read and identify verbal and non-verbal cues, which can give us a good idea of whether the property meets buyer expectations regarding price, presentation, and other factors. Doing so lets us predict whether a buyers interest is likely to mature into making an offer well before offers start arriving.

Another critical factor is measuring the type of audience at home opens. Specifically, we look at whether potential buyers are in the early stages of research or are further along in the decision-making process. This can give us an idea of how close potential buyers are to making an offer and whether we need to adjust our campaign to target a different audience.

By taking a more scientific approach and looking at all stages of the selling journey, we can make corrections early in the campaign and stimulate buyer engagement, increasing competition and, ultimately, an optimal outcome for the seller.

To support this approach, national data from CoreLogic shows that the longer a property is on the market, the higher the level of vendor discounting required to make a sale. In one of their reports the data measured showed that when a property is on the market for 60 plus days, the necessary discount level is 5.3% from the last advertised price. However, when a property is only on the market for 14 days, the level of discount required is only 0.3%, highlighting the importance of making adjustments early on in the campaign.

At Xceed, all property campaigns are discussed weekly at one-on-one meetings with our Director of Sales Performance. As a non-selling director, Jonathan Marlow is committed to every sales representative's ongoing training and development - regardless of experience level.

Achieving the best possible results for our sellers is our utmost priority - for more information or a comprehensive property appraisal, reach out to hello@xceedre.com.au, or call (08) 9207 2088 today.