Property marketing for the new listing customer is not a luxury! It is necessary because there is only that much marketing can do to help sell a home. So, it is best to be forthright when taking on an over-priced listing from the beginning. Tell your customer that the property is over-priced in your opinion! Use market facts to convey that unless the market changes or price decreases, the property may remain on the market for some time. Also advise the customer, that no amount of marketing will get their home sold, and some agents may not even show an overpriced home.
Property Marketing: Print Advertising Is More For You Than For Your Customer
Print advertising is on the decline per se, and the real estate industry is no exception. However, it is fair to say that successful marketing still requires the efforts of print, digital marketing, and networking. Though print has a higher recall rate, and can break through the clutter, it often serves the brokers’ interests better. In short, it is more advantageous to the real estate broker, than to his clients. Why? Because, while such ads generate calls and potential buyers, they may not pertain to a specific property. In a NAR survey of actual home buyers, less than 7% of respondents claimed first saw the home they bought, in a print ad. Set the correct expectation for your customers, to not expect a huge showing response when the ad runs.
Property owners may often see a realtor’s ad in every newspaper or magazine. However, it is important to point out that not every listing is mentioned in every ad. This is because property agents rotate listings through the various print media. So, although your ad is listed, it is not visible in every issue. This is why explaining property marketing to the new listing customer, is so important.
Digital Property Marketing Is Effective, But It Is A Numbers Game
According to Forbes, more than 90% of online experiences today, begin with a search interaction. So, a strong online presence is no longer an alternative for relators and listing agents. Today, buyers can view and compare hundreds of properties with relative ease on the internet and on their phones. They can run comps, obtain information, and combine home searches across multiple sites, from the comfort of their homes.
This means that they begin searches earlier, and take their own time in conducting research and comparing properties. Thereby delaying the timeframe between researching a property, narrowing down the results, viewing it online, and deciding to buy it. However, no matter the marketing, it won’t sell unless it is shown. And at will be the actual test.
Property Marketing: If Your Property Isn’t Showing, More Ads Won’t Help
It is an open secret; property agents prefer to show properties that favor their interests. They have a large inventory of competitive properties, with a higher potential of closing. This takes less effort for the agent, who may choose not to show your property at all. Why make the extra effort, with lower chances of closing?
Explaining such property marketing facts to the new listing customer is an important aspect of managing expectations. You need to explain to the seller, the need to consider a downward price adjustment or investment in property upgrades to justify their pricing. Increasing the number of ads or increasing the frequency of showing them, there is no guarantee of selling your property, if the price is not right!
MLS Is One Of The Most Important Marketing Channels
By placing the seller’s property into the MLS, Multiple Listing Service, sellers automatically gain exposure to the entire real estate community within the specified location. MLS listings are very detailed and provide detailed information about your home, to interested parties. As your approved property agent, we incentivize other agents that bring in buyers from the MLS. In addition, we also conduct various forms of online prospecting, including reverse prospecting, to match properties with buyers’ expectations.
How We Can Help?
With more than 35 years of property management experience, we understand each day that your property is vacant is money out of your pocket. That is why we spend thousands of dollars every month, advertising our vacancies to fill them faster. Your property is advertised on high-traffic rental and classified websites.
A professional “For Rent” yard sign adds exposure to capture drive-by prospective tenants. Our experienced leasing agents respond promptly to inquiries, advise prospective tenants on details about the property, and show your home in the best possible light. Look no further than Real Property Management Premier.
Contact us online or call 954-800-4433 and ask our property managers about our services in detail.
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