You are viewing our site as an Agent, Switch Your View:

Agent | Broker     Reset Filters to Default     Back to List

The New Three "P"s for Marketing Your Listing

July 27 2015

sold sign familyIn a recent "Secrets of Top Selling Agents" webinar, Garry Wise, luxury sales specialist for Goodlife Realty, and Chris Scott, director of marketing for Goodlife Realty, shared some of their top tips for marketing a listing.

According to Wise, "Consumers want something different. Being a gatekeeper of information is no longer a viable offer because everything is out there on the Internet." In order for agents to be successful, they need to show clients what makes them stand apart from the competition.

Scott explained that, through the old way of marketing, the three Ps were "put a sign in the yard, put the listing on MLS and pray that it sells." The new three Ps are much more practical for capturing the attention of today's modern buyers — preparation, promotion and price.

Preparation

When preparing a house, remind sellers that repairing, staging and cleaning are three important parts of the process. Wise mentions that, often times, sellers can be offended when discussing the repair process. He suggests engaging the seller in a way that is not confrontational. When walking through the home with them, if you see a stain on the ceiling, for example, that clearly came from a water leak, stop and say, "huh." This should inspire your client to ask, "Do you think I should fix that?" allowing you to casually respond, "I would." It's non-confrontational and gets done what needs to get done.

In addition to repairs, it's important to explain to clients the necessity of staging and cleaning. According to NAR, 76% of home buyers drove by or viewed a property after looking at it online. When homes are properly staged and cleaned, buyers searching online will find the pictures more appealing, increasing the likelihood they'll visit in person. Wise even suggests showing sellers before and after staging pictures and asking them, "Which would you rather see?" Explain to clients that they'll pay for the staging and you'll bring in a photographer who will create a look to attract house hunters searching on the internet.

Promotion

When promoting a home, it's a good idea to involve the sellers in the process. This can help them develop a more positive impression of you since they'll know the work you're putting in to selling their home, and you'll also be able to reach a wider audience through their network. As Wise notes, "It's easier if your client posts on social media about their home. It gets greater exposure to the property because of the viral effect. The worst is an absentee seller. They have no insight and will question what you're doing."

Pricing

The final P can be difficult for some sellers. Often, people have unrealistic expectations of what their home is worth. Scott says to show sellers how the market is performing and how their home fits in with what's out there now. Avoid telling sellers that the asking price is what you think their home is worth. Rather, tell them it's what the market is showing you now. If sellers are having trouble understanding why you can't sell their home for more, Wise and Scott provide slides to help explain this process in the webinar.

To learn the rest of Wise and Scott's marketing tips, watch the full webinar.

To view the original article, visit the Homes.com blogHomes.com blog.