Many sellers have the misconception that putting a home on the Realtors MLS will sell their home...and that is all they have to do.
When weeks pass with no offers or showings they wonder why nothing is happening. The reasons can be many or few.
Here is a short list of key points that help sellers sell when using a Realtor.
- Realtor selection....if you think all Realtors are the same then you must think all Doctors are the same too! I only use this to point out that Doctors and Realtors have a real impact on your life...Doctors literally and Realtors monetarily selling most peoples single largest asset. So deciding on who to use can have a big impact on how quickly you sell and how smoothly the transaction goes.
- Marketing....many Realtors and brokerages use the same format for every listing. No two homes are alike even if they have the same floor plans! Think about that for a second. Two homes built by the same builder with the same floor plan and they are not alike? No! They are painted differently, they usually will have different carpet and certainly different furniture, accessories and even flowers. So they will show differently. They may not even sell for the same price if one is maintained and the other one has children's artwork scribbled on the walls with felt tip marker!
So marketing the home is designed for individuals to meet individual needs and to highlight key features and benefits of the home being sold. - Advertising....Internet is a key element with most buyers starting on the Internet not having your home marketed with a Virtual Tour on the Internet can certainly reduce your market exposure. We use an
- Internet Address Specific to the Property....so buyers go right to the listing they are interested in seeing.
- Internet Down-loadable brochure....we provide a color brochure directly from the Internet so buyers can have information in their hands at the click of a button.
- Yard Signs....this is still one of the most effective ways buyers find homes for sale.
- Direct Response numbers....800#'s with prerecorded messages work 24 hrs a day.
- Magazines....key real estate magazines have continued to be a great way of home exposure to buyers. We find multiple marketing methods one of the best ways to generate more buyer exposure. Using the right magazine that has wide distribution within the market area of the home listed is a key marketing element.
- Color Brochures....this gives the buyers something to reference. They will have the key information in their hands. Some agents and companies think brochures are a waste of time and other think that not having a brochure the buyers have to call them. This way the agent gets a buyer lead not matter what. I find that brochures are a way of defining interest. If buyers call after having the brochure they are interested. I have gone through over 200 brochures in a weekend on properties. That is interest.
- Open Houses...this is an area where I sit on the fence....if the property shows well, is located where traffic finds the listing an open house increase the potential sale faster. On the other hand the statistics say only 2% of homes sold are the result of an open house. Most agents hold open houses to satisfy the seller...not because they know it is going to sell the home.
Not all buyers will use the Internet, not all buyers will look on the MLS, not all buyers will pick up a real estate magazines, not all buyers will spend their weekends driving around looking for homes for sale, especially at today's gas prices.
So like selecting a doctor you have to select your Realtor with care. Make sure the Realtor understands marketing techniques to sell your home. The Realtors marketing plan needs to be specific to meet your needs and show off the best features and benefits your home has to offer.
I hope this offered you as a seller a better understanding of the concepts of selling in a market with fewer sellers.
If you live in Michigan and are thinking of Selling your home or if your listing has expired call Gary White for a personal consultation on how to get your home sold faster and for more money!
Call Toll Free: 877-667-4699 Email: GaryWhite@GRAR.com Or Go to our website we have over "30 Free Reports" That could save you thousands in your next real estate transaction www.FlexItRealty.com
Good points. I feel that it has always come down to the agent. ESPECIALLY in the current market. Just "popping it into the MLS" just doesn't cut it any longer. The agents that are used to "doing everything" haven't really missed a step in this current market, while agents that "specialized" in dropping it into the MLS and then simply waited around for an offer are now scrambling just a bit. It really does take a solid plan depending on your local market.
Hi Gary,
Great information for your consumers. Let me add my endorsement....Call Gary!
Funny, I was just working on a list like this myself to post. Glad you did it, so I don't have to! hah. My list may vary a bit, but is substantial none the less.
I think one of the biggest keys is certainly Internet exposure and also hiring a professional that gives a darn. It takes good knowledge and constant analysis of the market along with great marketing and problem solving skills to get the job done right.
Good 10-point list. :)
Hi Brian, Bucks county is an active area and requires a great agent...like you mentioned. The days are gone of putting a sign in the yard and waiting for someone to stop by. Thanks for your comments Brian.
Hi Cynthia, you are just to nice....I just wanted sellers to know not all Realtors are the same. At times I hear this and am always amazed. Thanks for the comments Cyntihia.
Hi Wendy, sorry...you can have the next post that I am going to do...if I knew what it was! :-) It does take more efforts to keep on top of the market now than ever before. Hiring a professional that understands and works to promote a sellers listing is worth every penny they earn. Thanks for the comments Wendy.
Hi Lisa, thanks for the comments. We has sun all day today...that is rare for Michigan.