Marketing a House To Sell

This letter was originally written for sellers who were unsuccessful trying to sell their houses before they met me.  The experience I have gained will help me to sell your house even if it is your first time on the market.
 

Marketing anything involves four aspects:  the “four P’s of marketing”.  They are:  Product (what you are selling); Promotion (how you create an awareness of what you are selling); Price (the value that prospective buyers will use for comparison); Placement (for consistency, this is really location).  In terms of Real Estate, the product and location are what they are.  Product refers to the features NOT the condition.  While you should address condition to maximize price, most sellers are unlikely to add/ modify features to generate interest as the “payback” is usually much less than the investment.  Promotion and price are the controllable variables.  However, the focus is often placed on the price when it was the promotion that failed.  I have seen many examples of this and it can be a costly mistake!  I have written a separate article on pricing.

You can advertise a property everywhere, 24 hours a day, but if it is not done correctly, buyers and their agents may not be able to actually find your property or they may not know that it is a “match” for their needs.  What a waste of time, effort and money!  Sadly, a number of agents simply do not understand or they overlook the attention to detail required today.  If your house has a lot of competition any marketing advantage will help you sell for more money in less time. What is the cost to you if you do not sell?  I will be happy to share some examples with you.

I have developed a “Multiple Listing Service Printout Evaluation”.  This form alone may help you sell your house as most buyers are represented by agents and over 80% of buyers actively search the Internet for listings.  You need to be in the MLS and on the Internet as these are best sources of listing information for buyers although some agents use these tools more effectively than others.  Many buyers identify the house they will eventually buy through their own search.  Their ability to search and the sites they use pale in comparison to what an agent can do using the MLS so buyers can easily miss a house like yours.  Being on the Internet/ MLS is not enough.  I have heard a quote that an Internet web site is like a billboard in the middle of nowhere:  people have to be able to find what they are looking for.  If you have ever done an online search to find information you surely know the frustration of getting results that do NOT match what you are looking for.  As far as the multiple listing service, let me share a few facts with you:

·        over 28,000 Real Estate agents throughout the Delaware Valley (there are 13 primary counties) use it to advertise their listings and to identify properties for their buyer-clients.  That is “the list” to be on!  “Automatic Email Prospecting” keeps buyers up-to-date with new, reduced and back on the market listings.  I can explain that later;

·        the MLS “syndicates” your information to numerous sites which in turn keeps your information going and going and going (“viral” marketing).  These are the sites that buyers use so the MLS must be accurate or it will only pass on weak information;

·        if buyers and agents cannot find your property online they cannot see it and if they cannot see it they will not buy it.  No seller expects that their house won’t be found!

Have you seen your MLS printout?  Many of my clients had not until they met me.  Most printouts are average, some are truly exceptional (well written and detailed), and a number are so poor that they make it nearly impossible for anyone to find the house.  What is a typical reaction to a house that is not selling?  Reduce the price and/ or keep the house on the market longer than necessary.  Sadly, neither guarantees that someone will “find” it and both lessen your proceeds.

Please call me to discuss your experiences and plans.  I would welcome the opportunity to review how your property was marketed and show you what I can do for you.