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Only for the rare
few sellers, simply placing a “For Sale” yard
sign on the front lawn creates a line of traffic
filled with potential buyers. If you want buyers
to see your home, you’ve got to find them. The
key is marketing. To get the most exposure for
your home, you should have a marketing plan with
clear objectives and specifically outlines the
resources that will be used to reach potential
buyers.
Each marketing plan
should be designed around your property and
capitalize on its most desirable features.
Therefore, you need to be honest with your real
estate professional about the condition of your
home, and the final price you are willing to
accept for your home.
Next, you need to
determine what marketing options work best to
reach your desired audience. Generally there are
two audiences you are trying to reach—home
buyers and other real estate professionals.
Make sure the plan includes action steps on how
each audience will be marketed to.
Seldom is the
successful marketing of a property the result of
a single activity. Your strategy should include
a variety of marketing activities. Using only
conventional marketing strategies such as Open
Houses, newspaper ads and direct mail can limit
your outreach. Most homebuyers now begin their
home search online. Having a presence on your
real estate professional’s Web site and other
portals such as Yahoo! Real Estate gives you
worldwide exposure. Besides the increased
exposure, online listings also allow buyers to
get a sneak peek of your home. Therefore, you
may want to complement the listings with plenty
of photos and a virtual tour, which allows
viewers to get a 360-degree preview of your home
without leaving their computer.
Also, don’t forget
the power of email. Sending email flyers or
electronic postcard are easy and cost efficient.
During your planning, your real estate
professional may recommend other marketing tools
such as company/broker tours and an Open House.
Work with your real
estate professional to determine the best
options for your market.
Besides identifying
marketing tools, an effective marketing plan
will also spell out specific dates for the
marketing activities. It should leave room for
unscheduled events such as following up with
sales professionals or brokers who preview or
show the home.
Make sure the
marketing plan includes checkpoints, possibly at
the 15-, 30- and 45-day marks, to review
activity on the home and determine if changes
need to be made to the marketing plan.
As the home seller,
you should be kept in the loop on activity of
your home. The marketing plan should state how
you will be communicated with (mail, phone,
email, in person) and the frequency (daily,
weekly, etc.).
Of course these are
just guidelines, but can give you an idea if the
marketing plan your real estate professional has
proposed to you has to be refined. You need to
be comfortable with the marketing strategy for
your home. An effective plan will not only put
you at ease, but also give your home maximum
exposure to increase your chances of a quick
sell.
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