Marketing a Property
STEP 1 – A Marketing Plan
A CENTURY 21® agent will create a marketing plan for your property that will help to distinguish it from the other properties and will attract persons interested in letting it. When creating this plan, an agent uses the “CENTURY 21 Marketing System”, which means exporting your property to leading real estate servers and printed magazines, placing your advertisement on www.century21.cz and in the show window of the real estate agency, sending your advertisement to inquirers who express their interest in a property of the same or similar parameters, and other activities leading to letting your property quickly. A great part of an agent’s work can neither be seen nor heard. However, as it is important for you to have the knowledge of the whole process, on undersigning an exclusive contract we submit our clients a marketing plan elaborated in detail and showing clearly where and in what form we will present the client’s property on the market. You can thus check at any time that letting your property takes place in the way that you have agreed with your agent. At the same time the agent undertakes in respect of the client to inform the client of the course of selling the client’s property at least once a week.
STEP 2 – Determining the Right Rent Amount
The key part of a marketing plan is determining the right rent amount for your property. If the rent is too low, you will not achieve optimum proceeds, and if it is too high, it will discourage persons interested. You will determine the optimal rent amount together with your CENTURY 21 agent who will elaborate a so-called Comparative Market Analysis for your property in which he or she will consider the locality, the amenities, the size, the condition, and the equipping and furnishing of the property and also the amounts of the rent for comparable properties that have recently been let.
Along with the rent amount, you also have to decide whether all charges for services (electricity, water, gas, and waste) will be paid directly by the tenant or whether they will be paid by you (in such case the tenant would pay you the charges together with the rent). You can work a list of advance payments in the lease contract by which you avoid possible complications in the future. Finally, you also have to consider the determination of the deposit that is paid to the landlord usually in an amount of one monthly rent and charges for services.
STEP 3 – Inspections of a Property
Even though a tenant is a visitor in your property, you wish him or her to feel at home. That is why it is important to prepare thoroughly your property for an inspection. Begin with thorough cleaning. We also recommend to paint newly, to clean the courtyard and the garden, to trifle with the visual impression left by your property, or to switch on all the lights. Ask your agent for other tips that may help to leave a better impression of your property on most potential tenants.