These buyers will get the first call. To get onto the list, start by being serious about buying as the “hotlist” is all about buyers who are ready to put in an offer on the right property. He advises that buyers should be realistic and clear about what they need, or are looking for, including your price parameters. If you have a property to sell, it should already be on the market. Be sure to respond to the agent, turn up for appointments on time and importantly, have your finances already in place with either a deposit available, a bond approval or agreement in principle signed.
If you are selling
A “hotlist” property starts with a sole mandate as the agent will focus all their efforts on marketing and selling your property.
When you sign a sole mandate it usually triggers a number of marketing activities. Apart from listing it on the agency website and the various property portals, the agent will immediately notify their “hotlist” of buyers and add the listing to their hot property email blasts.
A hot property should also be priced correctly from the get-go. Research shows that properties attract the highest interest during the first month of listing. Correctly priced sole mandate properties sell faster and for higher compared to market average.
A property becomes stale if it sits on the market for too long. Worse, the seller may need to reduce the price to reignite interest, but it is unlikely to be a “hotlist” property unless the price drop makes it an attractive proposition for buyers. A “hotlist” property can also be a new listing of some interest such as a property which rarely comes onto the market, a sought-after complex or area or a home with rare and exclusive features. The agent will immediately identify such a property and include it on the “hotlist” to ensure it gets maximum exposure.
Courtesy of PrivateProperty | SEEFF Graham White, Tiaan Pretorious