What’s the biggest factor in choosing a real estate agent to sell your home?
According to a study done by the National Association of Realtors, the number one thing home sellers want from agents is to “Help the seller market their home to potential buyers.”
Yet most real estate agents are marketing their sellers’ properties as if they were stuck in the dark ages… they simply put a sign in the yard, put the listing in the MLS, and pray that it sells. That may have worked 20 years ago, but it doesn’t cut it in the Digital Age.
There are a lot of real estate professionals who think syndicating listings to portals is enough to satisfy home seller’s desire for us to market the home. But truth be told, hitting the “syndicate” button does nothing to actively market our seller’s properties.
As consumer, we have a tremendous amount of transparency into the home selling process. With just a quick Google search, we can find the basics of what it takes to sell a home. What’s more, today’s consumers are also much more informed on the basics of marketing and aware of the latest marketing tools and techniques, such as SEO, social media marketing, Craigslist and more.
The “3 P’s of the Home Selling Process” is a concept developed by REDM as a means to educate consumers about the home selling process. Using the 3Ps of Home Selling, we can market and sell homes at higher prices and in faster timeframes.
Here’s an outline of the 3 Ps of Home Selling:
1) Preparation – getting the right things ready so buyers will value your home’s features. The lack of preparing the right things is the biggest mistake home sellers make. Have you ever looked at homes for sale online and seen bad photos? In many cases, those homes are just like yours and had the potential to look great (and attract buyers), but they lacked two important factors in homes sales Preparation.
So what are those two factors? Staging & Photography. Having your home staged and professional photos so your home can be represented to best attract buyers is what sets the difference between a real estate brokerage that cares, versus one that just wants to sell your home to the first person that comes along.
2) Price – pricing your home to avoid Limbo Land, a place where homes sit on the market indefinitely. Some people think they should price their home well above the market, in hopes people will make an offer, or negotiate down to the real price. Others think they should price the home just above the market, in hopes of fetching a few extra dollars.
Truth be told, pricing is used to attract buyers & offers, which then leads to negotiating the real price. So it’s important to price your home on the market so it generates lot of buyer interest… and ultimately lots of offers. When you receive multiple offers, you can negotiate higher prices. As a seller, multiple-offer situations give you leverage. And pricing your home right is a key ingredient to getting multiple offers.
3) Promotion – marketing your home to get your home found online and generate buyer interest. Have you heard this quote before? P.T. Barnum, of the Barnum & Bailey Circus, once said, “Without promotion, something terrible happens… Nothing!” And P.T.’s statement is 100% true in the world of home selling.
In this day and age, you have to market your home aggressively online. This includes using popular home search sites, but also using the latest SEO (search engine optimization) techniques, social media platforms, and online marketing campaigns to promote your home to potential buyers.
When working with real estate professionals, it’s important to make sure your agent or broker understands how to market and sell homes in the Digital Age. You can use the information in this article to develop interview questions to ask your prospective agent how they will sell your home… and discover if they plan on just putting a sign in the yard.
If you’re looking for a real estate professional to help sell your home, here are 5 questions you can them to see if they have the marketing chops to promote your home in today’s digital age:
If you are looking for a real estate professional to use the latest marketing strategies and technologies, consider working with a Real Estate Digital Marketer to market your home directly to buyers searching online.