Resales done right!

When we took responsibility for sales at an established seniors’ living community in South-West Sydney, the challenges were clear. Around 20% of properties were vacant, and the average time on market exceeded 12 months.

Obviously, our immediate objective was to increase sales, but we knew that achieving a sustainable improvement required more than simply generating additional enquiries or increasing sales activity. We needed to understand what was holding the process back and address the factors influencing a prospective resident’s decision to purchase.

Looking beyond the sales process
In established retirement living communities, resales performance is influenced by a range of factors. The condition and presentation of available properties, the quality of marketing, the effectiveness of the sales process and the experience offered to prospective residents can all influence a buyer’s decision. Our approach focused on improving the entire journey, from bringing properties to market through to securing settlements.

This included five key areas of focus.

1. Taking ownership of the sales process
We took responsibility for the sales process, establishing greater accountability, consistency and oversight across the journey. This created a clearer view of the pipeline, helped identify barriers to conversion and ensured prospective residents received appropriate attention and follow-up.

2. Introducing a targeted refurbishment program
Property presentation plays an important role in helping prospective residents visualise their future home. We introduced a targeted refurbishment program to improve the appeal of available properties, ensuring the investment was directed towards opportunities most likely to support a sale.

3. Strengthening lead generation and marketing
We reviewed how the community was positioned in the market and strengthened marketing activity to generate more relevant enquiries. The focus was on reaching prospective residents with a genuine interest in the community and giving them compelling reasons to take the next step.

4. Using displays and events to improve lead quality and volume
Display opportunities and events provided additional ways for prospective residents to experience the community, explore the available properties and better understand the lifestyle on offer. These activities helped support both enquiry generation and the progression of prospective residents through the sales process.

5. Improving reporting, transparency and communication
Clear reporting and regular communication with the vendors helped create greater visibility across sales activity, property availability and the pipeline. This enabled more informed decision-making, earlier identification of issues and a more coordinated response to the factors affecting sales performance.

Delivering measurable results
The impact was significant. Within six months, vacancy fell from 20% to below 5%. Strong month-on-month settlements improved cashflow, creating greater capacity for the operator to reinvest in capital expenditure (CAPEX).

The improvement has also been sustained, with properties now typically spending less than six months on the market, compared with more than 12 months at the outset of the engagement.

These results demonstrate the value of looking beyond individual sales targets to understand the broader factors influencing performance.

A whole-of-community approach to resales
As this engagement demonstrates, improving resales performance is rarely about one intervention. Generating more enquiries is important, but those enquiries need to be met with well-presented properties, a compelling proposition, a responsive sales process and a positive experience at every stage.

For operators, reducing vacancy can also have benefits beyond sales performance. More consistent settlements can strengthen cashflow, support future investment and help ensure the community continues to meet the expectations of prospective and existing residents.

At One Fell Swoop, we take a coordinated approach to resales, considering the interplay between property presentation, marketing, sales and the wider community experience.