While speaking with a prospective client, we touched on home marketing. As we were discussing it, I was asked about venues and their importance... "Should we be on Craigslist, MLS, Trulia, Zillow, etc?"
My reply was "Of course... we want to be as many places as we can keep track of... but most of the activity will likely be generated by the MLS."
But the question went deeper... into the best marketing tool... And I replied that it was the list price. The list price is the most important marketing tool in the agent's arsenal. I love having a box full of tools. In my garage I have several boxes of tools. I always want to make sure I have the tool that is going to get the job done. In home marketing, it is no different.
But what I see many agents missing is the importance of having the WHOLE arsenal. We talk about:
- Ad Copy
- Listing Syndication
- Signs (and Custom Signs)
- Virtual Tours
But at the base, there is a simple fact... If the price isn't right, buyers won't look at the rest of the marketing... As agents (or FSBOs) we can syndicate our listings to hundreds of sites, we can have the coolest sign on the planet... but there will be few click-throughs to the listing information.
So, we HAVE to get the price right...
But it doesn't stop there. After the prospective buyer clicks through to the listing, they will bail if it is lame... If the pictures don't rock (or aren't there), if the virtual tour isn't compelling, if the ad copy doesn't inspire, if the video isn't building interest then there is scant reason for buyer to visit the property. There are just too many properties out there where the supporting ad materials ARE exceptional.
So, we have to have top-notch supporting material...
If you think that it is over then... think again. All we have done so far is get the prospective buyer into the home... We need to wow them one more time in order to get them to write an offer. That is where staging and property condition come in... Buying a home is an emotional decision. Buyers select the home they will ultimately buy based on their comfort level in the home. While there are plenty of logical considerations, I can honestly say that I have never had a buyer weigh the decision solely with a spreadsheet.
So, we have to WOW them when they step through the door...
It is a progression. If we miss any step along the way, we increase the time on market or decrease the eventual price.