Marketing Essentials for Selling Your Home
Marketing is a very crucial phase in selling your home. You need to inform the market that your property is up for sale and that prospective buyers need to approach and buy the home. If you don’t do it well your property may stay on the market for a long time, you may end up selling it for a very low price and/or you may incur high marketing costs, losses and/or lots of hassle before selling.
You can do the marketing for yourself, but if you are not experienced, hiring an agent to assist you is always the better option. At the very least, you need to invest in professional photographs of your property and a combination of traditional and online advertising to ensure exposure to the greatest pool of qualified buyers.
An exceptional agent will:
- Have a proven marketing strategy for selling homes in your category.
- Be able to provide you with specific marketing plans they have employed in recent sales, and explain the budget behind each of them.
- Not be inventing new ways to market your property or using your credit card as a guinea pig for a marketing wish list.
- Demonstrate real-time results from cost effective marketing strategies.
- Be able to explain which marketing strategy will be most effective and affordable for you.
- Provide you with a marketing plan and a budget.
Techniques real estate marketers use to reach potential buyers include:
- Professional photography
- Online marketing
- Database marketing
- Brochures, newsletters and signage
- Open homes
Factors that determine your marketing budget and settlement on a marketing strategy (in collaboration with your agent) may include:
- The cost of recent marketing campaigns for properties in your category.
- Their results.
- The strong elements of those campaigns.
- Which elements could be excluded from your marketing plan to reduce the budget and have no negative impact?
In addition, you can also do your own research online to ensure your strategy and budget is appropriate. Look closely at the marketing for at least ten properties in your category, especially those that have been on the market for some time. Find out what they are doing wrong and how it could be improved for your situation.