Marketing Plans
The Marketing Plan for your home:
• A marketing plan will vary from real estate company to real estate company.
• A marketing plan will vary from Agent to Agent depending upon experience.
MARKETING PLAN
A. Multiple Listing Service Entry
B. Internet Entry - Web site: www.ResultsRealtySellsFlorida.com
C. Broker Notification:
(1) Computer Entry
(2) Multiple Listing Service-Virtual Tour
(3) Realtor.com
(4) Yahoo real estate.com
(5) Zillow.com
(6) Trulia.com
(7) HotPads.com
(8) Vast.com
(9) Place “for sale” sign on property (if allowed)
(10) Place lock box on property, if needed
(11) Broker “OPEN HOUSE’ program
(12) Fliers (all Realtors) - Color/Digital Photos
(13) Open House (if deemed necessary)
(14) Networking with Buyer’s Agents
(15) Networking - All Top-Selling Agents (Top 50)
(16) Pre-qualify potential buyers
D. ADVERTISING
(1) Industry Publications
(2) Out of State Magazines & Newspapers
(3) Prospective Buyer Contacts
(4) Fliers
(5) Neighborhood Awareness
(6) REALTORS Magazines
(7) E-Mail Marketing
(8) Telephone Control
(9) Internet Marketing
(10) Community Involvement (Personal & Professional Networking)
(11) Internet Exposure
The Pricing Plan for your home:
• No one individual controls Market Value, Be it Realtor OR a Seller!
• Pricing is determined by working from a Comparative Market Analysis
The Multiple Listing Service is designed for Sellers, not Buyers.
• Do you agree this approach will best help you determine Price?
• Price affects excitement and therefore, the number of showings of your home you
CAN EXPECT
QUESTIONS AND ANSWERS
1) Is there one major factor that determines price?
A. The true determining factor for market value is the selling price of
the most recent closings.
2) Should I price my home similarly to those homes listed in and around my home?
A. This is when looking at recent “Solds” can help you the most. If current homes which are similar to yours have been listed for a long time and have not yet sold, the reason can be that buyers are not willing to pay those prices.
3) Should I price my home high in order to test the market?
A. Initially pricing your home high puts you immediately at a disadvantage at the time when the listing is new and the existing buyers in the market are waiting for new properties at the market price. The majority of showing activity occurs in the first few weeks of marketing. If your home is priced too high at first, you lose some of the best activity.
4 How can overpricing my home actually help the Buyer:
A. Overpricing forces the home to be on the market for a long time. Buyers are led to believe that either something is wrong with the home or that by now the Sellers must be desperate to sell at any price. Either assumption leads to offers that are lower than the market value.
5) What is “computer shunning”?
A. Computer shunning is when a computer search of available listings retrieves only those that are within the buyer’s stated price range and ignores any properties on either side of that range. For example, a buyer may be interested in a home priced between $100,000 and $125,000 and although your home’s worth is within that range, you have overpriced at $130,000. The buyer will never see it because it is outside of his/her range.
6) Why not list high and hope for a buyer who doesn’t know prices?
A. As is true for most items, buyers comparison shop in the real estate market. In one day they can get to know values quickly. Even if a buyer were not to look at any other homes in the market and bought an overpriced home, the appraisal would be less than the selling price. This would disrupt the sale because financing could not be obtained in this situation.
7) Does the cost of my improvements equal which I can get for them now?
A. Only if the improvements are in line with those of other homes around you. Over.- improvement of the home, that is, making improvements that are beyond the features offered in other homes in your Subdivision, does not provide a positive return on investment.
8) Does time on the market affect selling price?
A. Absolutely. There is a direct correlation between the time on the market and the final selling price. Homes that are on the market over 24 weeks receive a full 10% below price as the perceived desirability of the property declines.
9) What if the home sells in the first weekend? Did I ask too little?
A. If the Realtor prices the home at market value, buyers already in the market place have looked at other properties and are waiting for new market value homes to come on the market. As soon as a desirable property becomes available, they are usually eager to buy.
10) Do you recommend that the Sellers bear the expense of a Home Inspection?
A. Inspection Service companies can perform pre-Iisting inspections for sellers, helping the listing to stand-out, sell faster and for the highest amount possible. Inspection Service Companies let sellers know the condition of the property and gives recommendations on property enhancements. The seller can then decide which areas, if any, they would like to fix-up, and which they plan on disclosing as an item they will not repair/replace. Either way, prospective buyers will feel a greater peace of mind in knowing an inspection was conducted and the property has no skeletons in the future. This peace of mind will help eliminate lengthy negotiations and post closing hassles.
