How many Sellers know more about Real Estate advertising than their Realtors? I think that number is directly correlated to the amount of time a home sits on the market.
I had an over priced listing a few years ago. The sellers reason for selling was very emotional. When the proper sales price was discussed at the listing appointment, the seller wanted $35,000 more. The listing was taken with the understanding that every two weeks the home and the market would be reevaluated.
It took 2 months, and the correct sales price was offered on the listing. The listing sold in one week after the correction to the initial price that was adjusted to the CMA price at the listing appointment.
During the two months that it took to get the buyer to a realistic sale price was trying. The seller wanted classified ad's run in all major cities in the Northeast. When the seller was informed that the ad's were too costly and highly ineffective, the Seller ran their own classified ad in the Boston Globe. The seller spent a large amount on the ad, without even a call.
The seller then suggested that the home should be listed in every and all Internet listing portals. The listing was on Realtor.com, but why wasn't it in the featured home service? If every seller wants every Real Estate listing portal in the English speaking world advertising their home, a Realtor would be bankrupt before they even sold a house.
Realtors, use your advertising dollars wisely, but also service your listings by posting them in free or inexpensive listing portals, like Craig's list, or Zillow.com. Leverage your listing as best you can keeping in the budget for your business plan.
Please post all free or inexpensive listing portals that are available by responding to this post. so that they can be shared.
The Resident Mark
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