A Real Estate professional has many ways to effectively market your property. Proven marketing methods include flyers, open houses, the internet, and listing in the MLS. There is a common misconception that advertising sells real estate. The National Association of Realtors studies show that 82% of real estate sales are the result of contacts through previous clients, referrals, friends and family, and personal contacts.
Keep in mind that advertising is only one part of marketing. The choice of media and frequency of advertising depends a lot on the home and specific market. Overexposure of a property in any media may give a buyer the impression the property is distressed or the seller is desperate. A qualified real estate professional will know when, where, and how to advertise your property.
Marketing also includes the exposure of your home to other real estate professionals and the general public. In many markets over 50% of real estate sales are cooperative sales; that is a real estate professional other than yours brings in the buyer. Your real estate professional acts as the marketing coordinator, disbursing information about your property to other real estate professionals thru the MLS, open houses, and office meetings.
Preparation is critical; to marketing your property effectively. A real estate professional is best suited to recommend repairs and cosmetic work that will significantly enhance the salability of your home.
Following is a marketing strategy designed to assure you that your property is marketed to its fullest potential and to obtain the highest possible market value.
- Carefully evaluate your home and its competition and current market conditions
- Prepare a Comparative Market Analysis to establish fair market value
- Prepare listing contract
- Prepare seller disclosure statement
- Enter listing in the MLS system
- Take photos of property
- Prepare a Virtual Tour
- Place For Sale Sign on property
- Place lock box on property, if needed
- Inform each agent in my brokerage of this new listing
- Distribute flyers to members of the Houston Independent Realtors Association
- Prepare and submit advertisement to newspaper or e-flyers
- Make listing available to internet web sites
- Hold open houses
- Arrange showings for other agents
- Pre-qualify potential buyers
- Review list price based on agent feedback and market condition
- Provide a weekly market activity report
- Present and review all offers with you
- Negotiate the transaction on your behalf
- Finalize the closing
- Provide references for qualified moving and relocation services
1. Decision to Sell.
2. Pricing Strategy.
5. Virtual Tours.
6. Marketing Plan.