Selling Your Home? Marketing Tools Your Realtor Should Utilize.
The Most Important Tip
Everyone wants top dollar for the sale of their home. Most everyone wants a quick sale as well.
The most important thing you need to understand as a seller is that pricing is the most critical component of your marketing strategy to facilitate the two most sought out results from above. No genial marketing strategy, incredible negotiation skills and timing will supersede pricing. If your property warrants top dollar in comparison to similar closed sales in your neighborhood, by all means your real estate agent should be working to achieve this goal.
Overprice the property however and you will undoubtedly stagnate the sales process and definitely slow the sales cycle time. Overpricing also leads to having the property on the market for a longer time which lends to buyers making lower offers because they notice the number of days the property has been sitting on the market in comparison to similar closed sales. Buyers understand that the first 30 days are the most critical in the sales cycle time for a seller because that’s when there are the most set of eyes looking at their listing. The more eyes focused on the property, the more competition buyers feel they have in obtaining the house that everyone is buzzing about. Once the buzz is gone and there are no offers on the property because it is overpriced, then many online browsers mark the home on their favorites list on their preferred home browsing site (Realtor.com, Zillow, Trulia, Hot Pads, etc.) and they wait to receive the price reduction notifications…and then it becomes a game in their mind of “let’s wait for the next price reduction”…
With the above understood, let’s move on to marketing tools that your real estate agent should be using to present your home with its best face on the web.
In today’s highly competitive online marketplace, which is where most buyers start their home search, your property needs to stand out above the rest of the inventory offered in your community / neighborhood / area.
There is absolutely no excuse for your property not to be represented by professional photography online. None whatsoever. No excuses from your realtor. If you are interviewing a real estate “professional” and they are not offering you this service as part of their marketing template, don’t hire them. Iphone pics are not acceptable. I cannot tell you how many times I have seen it happen wherein I send buyers I am working with properties for their consideration to tour in person and the overwhelming majority of them choose the properties with professional photography and bypass the others when they send me their list of the ones they want to go and see. It’s astoundingly an overwhelming majority of the time. First impressions go a long, long way. On occasion I may have toured a home in person previously (I keep up with the inventory in my market areas) and have told my buyers that the pictures of “x” property on the MLS do not do it justice and they take my word and we tour it despite the unappealing online representation. Are you going to rely on that to happen with all prospective purchasers that are looking at your home online though? Rhetorical question.
Here are some sample photographs of listings I have sold in the past. I am not a photographer. My marketing budget is built into the commission I am being paid to sell the homes and I always budget for a professional photographer.
Here is another…
As online marketing continues to evolve, video is also becoming a norm in various marketplaces throughout.
Video is more expensive than photography and at certain lower price points it is not economically feasible for the agent or the seller to consider it as part of their marketing strategy. For myself I utilize it for properties listed at $500,000 and above.
If your agent is an expert that specializes in your particular neighborhood, especially in communities that are multi-family (town homes and condominiums), he / she will probably have a community video that incorporates the common areas / amenities as part of the online showcase of the benefits of purchasing a home in said market.
Here is a sample video of Cobblestone, a community in Pembroke Pines, Florida in which I do a lot of business (highest market share in units sold since 2015):
MatterPort 3D Tour
This is a cool tool that hasn’t quite taken off yet, but I have begun to utilize it on all of my listings because unlike still photography or video, this marketing piece gives online browsers the most detailed and personalized tour they’re going to get prior to visiting the property.
I think that MatterPort will become more and more of a norm in the industry in the coming years.
See for yourself.
Take a tour of this town home:
Print Media Mailers
I always send an every door direct mail piece marketing of my listings to a designated mailing route. It works in the communities I specialize in. I’ve had sales off of this strategy. Your agent should have an understanding of the market your property is selling in and should be able to target the right audience. Perhaps it does not make sense to advertise your property to a specific mailing route. Magazines, newspapers are medial that reach wide audiences and may be more effective than targeted every door direct mail campaigns in some markets.
The point here is that print marketing should still continue to be a part of most properties’ comprehensive marketing campaigns.
About the Author
I am a licensed Florida real estate agent and I am passionate about my industry.
I service the Fort Lauderdale and Pembroke Pines, Florida residential real estate markets.
The brokerage I work for: EWM Realty International. # 1 in the Miami-Dade real estate market for million dollar plus sales for several years. The leading luxury real estate brokerage in South Florida. A Berkshire Hathaway affiliate.
I worked as mortgage loan officer and was a top originator for six years, thereafter becoming VP of Sales & Marketing for the same mortgage banking entity for three years. I then transitioned into new home sales for CalAtlantic Homes (a Fortune 500 national home builder recently acquired by Lennar) where I performed as the highest selling new home sales consultant for five years, the length of my employment with this company. Since 2015 I have been a general real estate agent with EWM Realty International and reached the upper tier of performers in this highly respected company in a short span of time.
Thanks for the read.