3 P's To A Successful Listing Presentation: Price, Product, & Promotion
What are the keys to a successful listing presentation on today's real estate market when working with a potential home seller?
The 3 P's (Price, Product, & Promotion) are the simple answers to your listing presentation fears.
Price: By far the most important aspect of a successful listing presentation is having the seller price the property accordingly. Make sure to pull the comparable properties from the past 6 months and make up a excel spreadsheet and show the seller the total price reductions, days on market, average commission paid to the selling agent, average price for active listings, and make sure to show the average price reductions from the just listed period to current asking price. Your goal is to get your seller to price the property at market value. Do not take an overpriced listing in today's market! You will only be waisting your time and money. Work with motivated sellers that listen to your expert advice and allow you to do your job.
Product: Product is the home itself. Make sure your product is marketable. Recommend to the seller that his/her home should be home staged. Show how a little paint and the moving around of furniture can gain more offers from potential buyers and get more money for the property. Remind your sellers that there a lot of competition on the market, and buyers are looking for clean and upgraded homes to move into. They do not want to purchase homes that need work. As a result, sellers must do some of the improvements in order to make their home stand above the competition. Also, discuss curb appeal and how the exterior of the home should be manicured and impress the potential buyers before they even enter the home.
Promotion: After getting your seller to price the home according to current mark conditions and making the home in the best showing condition both externally and internally, now it is time to implement a flawless marketing campaign to truly expose the home to the masses. With the National Association Of Realtors stating that over 81% of home buyers find their homes on the Internet, it is a must to place your property all over cyberspace including Craigslist.com, Backpage.com, Google Base, Active Rain Blogs, and especially on Realtor.com. Print marketing has taken a step back to online real estate advertisements. Buyers simply can't ascertain as much information from a line ad in the newspaper or one small picture in a magazine. The Internet has open the buyers' horizon to virtual tours, property details, and lots and lots of photos. So, make sure you invest in an enhanced membership on Realtor.com. You will receive more buyer leads from this medium and truly expose your property to the most popular online real estate buying website: Realtor.com
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