Last week we listed a new property for lease. What’s so special about that you ask? Well, it was a timely reminder about the 7 p’s: Proper Preparation, with Professional Photography Provides Peak Performance. Ok, well I made that up just now, but to us, I believe it rings true.

This is the timeline in how it developed;

  1. Thursday – received call from our accountant that their sister has an investment property to lease out
  2. Friday – met with Property owner and agreed to terms
  3. Saturday – took professional photography, floor plan and also used ‘virtual furniture’ (see photo), to really accentuate what is possible and how good it would look
  4. Listed on Saturday afternoon with beautiful marketing and copy
  5. Sunday thru to Wednesday had plenty of enquiry and Q&A with prospective tenants
  6. Wednesday – 16 x groups through, 7 applications received!!!
  7. Thursday – deposit taken
  8. Friday – Signed lease

Sounds easy doesn’t it? It was, in a way – the client listened to our advice on pricing strategy and we achieved a result $60 p/w above the asking price – we just weren’t sure how the property was going to be received so we priced it cautiously (knowing we are in a difficult market) and the influx of enquiry was absolutely surprising. By pricing it lower as well, we attracted a quality pool of tenants and were able to negotiate and choose the best from the bunch.

Result? You betcha! The clients were wrapped and so were we and so were the tenants. All in all, the 7 p’s works if you consult with your agent and utilise their knowledge and experience of the market to come up with results such as this.

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