What Is Pre Market?
Placing yoor home on our platform allows you to Pre-Market your home prior to placing it for sale with an estate agency. This gives you the valuable opportunity of guaging the level of buyer interest and asking price before committing your property for sale. Saving you the hassle of contacting several agencies to do market appraisals until you feel ready. Pre-Marketing is the savvy way of gaining buyer interest early, so they are ready and waiting to view as soon as you are ready to sell!
If you have chosen to sell through a Mutual member agency they can place your property on our platform to gain you early interest, not only from their own registered buyer contacts but also from the buyers registered to our platform from other sources. This creates a larger pool of buyer interest and you also get the opportunity to see the level of interest in real-time via your personal dashboard.
So, while you prepare your house for viewing, your agent is discreetly marketing your property – collecting buyer interest and price insights on Mutual’s Pre Market Property Platform. Once you feel your property has collected sufficient interest, they can change your property status to Off-Market or Open-Market and contact the registered buyers who have notified their interest.
What Is Off Market?
When your agent places your property in the Off-Market Property status, it signifies to Mutual’s registered buyer base that your property is officially (but unofficially) for sale. The Off-Market Property status allows those registered buyers who have already shown interest in your property to have the first opportunity to book a viewing or even secure a purchase before the property is placed, if necessary on the Open Market. You and your agent can also elect to keep your property in the Off-Market property status indefinitely. One of the advantages of keeping your property in the Off-Market status is the ability to arrange a discrete sale – especially for those wanting to avoid a for-sale board in their front garden.
If you are unable to find a buyer during the Off-Market period, then you can always elect to move your property into the Open Market property status. This will give your property a second chance to gain a first impression!
What Is Open-Market?
The Open Market is the standard property marketing strategy adopted by most agencies. Once the agent is instructed they usually seek to place the property on all the traditional Open Market search portals as soon as they can. Quite often this is within a day of having completed your property photos.
Whilst this approach may look efficient, it quite often has the opposite effect for two reasons. Firstly, if your property has not been correctly priced it will struggle to gain buyer interest. So, let’s say your property was posted for an initial three weeks with an incorrect price, and you decide to change the price after these weeks. Regardless of the price change, your listing will still show as listed three weeks ago (and counting). The longer your listing is on the market the more buyers are encouraged to bid at a lower price.
Secondly, if there is no major deadline to achieve – why the rush? You may not have found a property to purchase yourself. Why put all your eggs in one basket? The Mutual sales strategy gives you options to get your timing and price right – not to mention, doing so potentially out of sight of nosey neighbours, friends and/or family.
What Is Re-Market?
Re-Market: the final piece of the Mutual sale strategy. Sadly not all sales that are agreed will continue to a full legal sale. This can happen for a host of different reasons, and a good agent will usually have a gut feeling about such a situation ahead of time. Re marketing a property gives the agent the opportunity (on your behalf) to discretely re market your property back into our pool of registered buyers. This will allow your property to discreetly gain further interest just in case the buyer pulls out or could be used as a tool to nudge the current buyer into finalising the sale. Whether it’s used as a safety net or a persuasive tool, re marketing is an invaluable feature to Mutual’s selling strategy.
What Is Pre-Portal?
Pre-Portal is term coined by Max fuller the creator and founder of Mutual Pre-Portal Property Platform. Quite simply it is a way of marketing your property for sale before it is advertised on the traditional property portals. Pre-Portal gives buyers a great opportunity to see properties first, sometimes before they are even marketed on estate agents own websites.
Max Fuller is the Creator and Founder of Mutual Pre-Portal Property Portal