| The real estate market is far different than it | | | | Print Advertising - Some would argue that print |
| was several years ago. Now, homes may linger | | | | advertising is not that effective but personal |
| on the market for months or years without a | | | | experience has been the more we do the better |
| sale or even an offer. Nevertheless, some | | | | the results. Many local "move up" buyers who are |
| properties do sell quickly. Understanding why | | | | casually shopping will look at local homes |
| some sell and others do not is essential to helping | | | | magazines before sitting down to do a dedicated |
| your own home sell quickly in a buyer's market. | | | | search. Frequently the print ad gets the buyer's |
| The first two reasons listings expire are condition | | | | attention, then they go to the internet for more |
| and staging. High housing inventories and longer | | | | information. |
| market times allow buyers to be more | | | | Signage - The bigger the better. Directional signs |
| discriminating, so the home in the best condition | | | | work well if allowed by town ordinance. |
| and best presentation is more likely to sell first. | | | | Networking - This is the "extra mile" that you |
| The third essential element in ensuring a | | | | need your agent to go. Networking involves a lot |
| successful sale is an effective marketing program. | | | | of extra work, but a busy agent is in contact all |
| Previously we examined the difference between | | | | day long with other agents - both in their own |
| listing and marketing: listing is simply announcing | | | | office and in other agencies - who have buyers in |
| that your home is for sale; marketing involves | | | | various price ranges. Taking the time to make |
| developing and implementing a strategy for | | | | sure those agents know about your home |
| attracting potential buyers to your home. | | | | expands the potential buyer pool even farther. As |
| A listing may sell, eventually, even with very little | | | | much as the internet has helped increase visibility, |
| marketing. In a buyer's market, however, without | | | | you still can't beat good old fashion |
| marketing the odds are it will not sell or will take a | | | | person-to-person promotion. |
| long time, which can be expensive in both holding | | | | Direct Mailings - Targeted mailings to your |
| costs and price erosion. | | | | neighborhood can help. Your neighbors probably |
| Proper marketing involves getting the word out | | | | won't buy your home, but they might have a |
| and making sure your home is promoted | | | | friend who would. |
| differently than the average home for sale. | | | | Open Houses - Although open houses are |
| Getting the Word Out | | | | notoriously ineffective at producing a sale, a |
| It is essential that your home be listed and | | | | professionally-hosted open house will produce a |
| advertised in as many places as possible. The | | | | direct buyer in about 1 of 50 open houses. Yours |
| larger the potential buyer pool, the more likely | | | | may be the 50th! Plus the more people who see |
| that the "right" buyer will find your home. The five | | | | your home, the more likely the right buyer will |
| main outlets are the Multiple Listing Service (MLS), | | | | see it. |
| internet, print advertising, signage, and inter-office | | | | A Lead Capture System - Your agent should |
| and outer-office networking. | | | | have an effective way of getting a prospective |
| Setting Your Home Apart | | | | buyer's name and phone number. Brochure boxes |
| It's not enough to simply alert the buyers. | | | | are very convenient for buyers, but they provide |
| Reaching the largest potential buyer pool possible | | | | no means for your agent to follow up with |
| increases the likelihood of finding the right buyer | | | | prospects. There are systems that can capture |
| quickly. Your home must stand out from the rest. | | | | the buyer's name and phone number so your |
| Here are several ways your agent can maximize | | | | agent can check with the buyer to see if there is |
| your home's visibility: | | | | any interest. |
| MLS - Make sure the information is complete and | | | | Guaranteed Sale Program - The buyer who has a |
| accurate. This is not the area to take shortcuts. | | | | home to sell before they can buy yours is at a |
| Photos should be taken by a professional to best | | | | disadvantage unless your agent has a guaranteed |
| showcase your home. Multiple photographs | | | | sale program. This sort of program may |
| illustrating key features of your home and a | | | | encourage a buyer to choose your home over |
| virtual tour are a must. | | | | someone else's since it removes the hassle of a |
| Maximize Exposure - If you're in an area with | | | | contingent offer. |
| overlapping MLS's, be sure your agent lists your | | | | The Choice is Yours |
| home in both systems. Again, the more potential | | | | A great agent will do everything they can to |
| buyers who learn of your home, the more likely | | | | market your home and get it sold quickly and for |
| your home will sell quickly. | | | | top dollar. When selecting an agent, don't make |
| Internet - In most MLS's your home is on the | | | | assumptions. You need an agent with a proven |
| internet as a service of the MLS. Steps can be | | | | and consistent track record. Don't rely on the |
| taken in many of the national key websites to | | | | reputation of the agency as every agent is an |
| enhance the listing. More comments can be added, | | | | independent contractor with their own level of |
| as well as photos, room counts, virtual tours etc. | | | | experience and success. You want the best |
| It's extra work and more expensive, but well | | | | working for you. |
| worth it. You want to be sure your home makes | | | | Copyright © Shawn Buryska. |
| the buyer's "short list" of homes to visit in person. | | | | |