Fast Track to Marketing and Selling a Home
So, you’ve put up a listing and are having trouble getting potential buyers in the door.
If this is your first time selling a home, you probably think one of the best ways to hook in a buyer is to lower the asking price.
While this does hold some truth, there are alternate options to increase views and offers on a property. It all starts with some good real estate marketing and a little creativity on your part.
Set a good price
Research homes in the area that are like the one you’re selling. It’s a great place to start and you’ll stay in the ballpark. You have access to the Multiple Listing Service (MLS), so use it! Or check out this guide to see if your price is too high.
With the MLS as a reference, you’ll have a good idea of what homes in the area are going for. You’ll also learn the market history for the area and can narrow down your options.
Has your seller made significant changes to the home to increase its value?
Was a patio installed?
Did they finish the basement?
Was the kitchen renovated?
All these amenities should be included in the asking price because the seller is expecting a return on their investments or projects.
An official appraisal will also help you get an accurate estimate of a homes’ value.
Coming up with the right price is no easy task. Prices set too high will scare buyers away, leaving the home on the market for weeks, or months.
In the same sense, you don’t want to lowball the price and have the buyer lose the hard-earned dollars that they put into the home.
Consider putting yourself in the shoes of a buyer. From an outside point of view, is the value of the home truly worth the asking price? Use your best judgment and experience. After all, you are the expert here.
Does your seller live in a cookie-cutter neighborhood?
As potential buyers drive through the neighborhood and see that most homes look the same, they’ll be less likely to fork out extra cash for your listing due to the similarities across each home. You need to give buyers a reason why they should pay more money for your home.
It can be hard to make a home stand out among properties that are essentially the same. Any unique quality you can suggest to the seller to differentiate it from the others will draw a buyer’s attention.
This doesn’t always mean spending thousands of dollars on renovations. Suggest smaller projects that make a big difference (like a new roof or a fresh coat of paint). Your seller may have to roll up those sleeves and do some landscaping here and there, but it will enhance the curb appeal.
First impressions are key.
Get behind the lens
People are visual.
Photos of a home online and in print advertising will draw buyers to view your home. A lack of photos can cause potential buyers to look elsewhere.
You’ll need photos of both the interior and exterior, and don’t forget to have the seller remove all clutter. The home should be properly lit and aesthetically pleasing. This means:
- Trash cans out of sight
- Toilet seats down
- Beds made
- Floral arrangements in the kitchen and eating areas to liven things up
As for the outdoors, the grass should be cut, and bushes trimmed to emphasize the lawn space (if it’s there). Otherwise, take photos of any public surrounding areas like pools, parks, or clubhouses. The location plays a huge role in the sale of a home.
Host an open house
An open house is a perfect way for potential buyers to see all the features of a home for themselves. Even with all the technology available today, nothing beats seeing something in person.
Before you host an open house, consider the location of the home. If your seller lives in a not-so-perfect area (for example – heavy construction or a very rural area), then you won’t have many potential buyers show up.
Likewise, if your seller lives in a populated area where buyers flock, feel free to put a plan into action.
Getting visitors to attend an open house depends a lot on your marketing tactics. Try sharing the news of the tour via social media and avoid making it last-minute!
Have your home move-in ready
Sure, your listing might have an A+ in the looks department, but it’s equally important that all fixtures and appliances are in working order before selling the home.
Potential buyers want assurance that they can move in with ease and enjoy the home right away. They don’t want to worry about covering costly repairs.
Ensure that your seller takes the time to take care of all repairs, big or small. Otherwise, the negotiation process might result in a lower asking price.
If a buyer decided to order an official home inspection (which they probably will), you’ll have better peace of mind in knowing that that home is good to go.
Create a video tour
Providing potential buyers with an inside look at the home is a great way to reel them in.
Buyers love the idea of being able to view the home from the comfort of their own.
Considering that almost all home searches start online, this would be a wise strategy to use. This can give buyers an inside look and save them time – it could also spare you from having to host an open house.
If you’re tech-savvy, you can use your creativity to add music and text to the video. If not, there are freelancers out there that would be happy to take on the task.
Send direct mail
Distributing pictures and information of your home through postal mail helps to reach consumers in a specific area.
Every Door Direct Mail (EDDM) is a great way to reach your target audience. You simply choose your preferred location to reach potential customers. You don’t even have to know any names or addresses.
Send out a flyer that will catch your audience’s attention. You can create this flyer yourself or seek out assistance from a graphic designer.
Don’t limit yourself to making a simple page. Create a call to action, leaving buyers wanting more information, and then send a brochure, flier, or a newsletter.
With the right flyer, you can reach your target audience at a modest cost and discover potential buyers along the way.
Create a news article
It’s time to channel your inner journalist (or hire one, there’s plenty of us out there).
Creating a press release is a simple strategy for marketing a home. Think of it as a news piece that’s immediate for all users and includes all relevant information. Add a high-quality photo to grab attention and don’t forget your contact information.
Use social media
Everyone is online whether they’re on their phones, tablets, or laptops.
If you want potential buyers to know the home is up for sale, take advantage of all the social media platforms you can.
Let’s say you post the property photo and info on Facebook. To take it up a notch, you can ask your friends to share the post and reach a bigger audience. In turn, their friends could share it and your post will gain a lot of exposure. You can even pay a small amount to guarantee the post is seen by thousands of people.
The power of social media marketing is endless in today’s world.
Build a landing page
Not many people know about the power of a landing page, or even what a landing page is. Landing pages are usually the homepage of a website and can be used as a marketing tool.
By creating a landing page for specific properties, you will allow borrowers to get most of the information they need in one click.
Give your landing page a title that reflects the property, a description of the home and its amenities, photos and/or a video of the area and surrounding areas, and your contact information.
Make sure you are tracking it with:
- Google Analytics – to see the traffic and performance of the landing page
- Form – a simple form that asks for a consumer’s full name, phone number, and email that allows you to track potential leads.
Host Broker Tours
Instead of the typical open house where potential buyers come to view, you can host a tour for brokers and agents.
This strategy can be more effective than an open house, because a typical broker will have a greater number of real estate agents touring the home, thus gaining more views and potential buyers through the agents who will decide if it’s fitting for their clients. Speak with your broker to determine if this is the right move for you.
Build a mass email
An email blast is an effective marketing strategy because you can reach a larger audience by sending everything at once to a huge mailing list (we’re talking hundreds to thousands of recipients).
Sounds simple enough, but this also involves creating engaging content to grab the attention of readers, so they don’t pass it off as spam.
Create an attention-grabbing title and make the content short, sweet, and to the point.
Note: You MUST have the permission of your contact list to send them emails.
Set the stage
Staging the home is a great way to bring in the most buyers.
It involves transforming the home into a more attractive and welcoming environment.
It’s the perfect opportunity to highlight the strengths of the home and hide the weaknesses. The goal is to make it so potential buyers can picture themselves living in the home. This means the seller will need to remove all family photos and personal touches.
There are professionals for this, and you can hire one for assistance. However, if you know a bit about interior design, you can try to do this on your own.
Offer further incentives
Many home sellers offer incentives to potential buyers to further entice them.
Offers could include covering the appraisal fee, closing costs, or other homebuying expenses.
Buyers are always on the lookout for a deal. If you can help them save money during the home buying process, they will be thankful and more likely to buy.
A final note
We all know very well that real estate is unpredictable. You’ve had listings that were sold in a matter of days, while others have taken months.
Although you can usually predict the outcome, there are always actions you can take to get a property sold on time.
Think about using some of these strategies to increase your chances of a successful sale. Your hard work and dedication to the cause will give you the results you want.