I do not know if I can tell you how much time I spend in trying to learn the marketing strategies for Real Estate and discover for myself, what works and what does not work. Because bottom line, when you get a listing from a seller, it does not just stop there. Many fail in this business because all they do is list the house in the MLS and that's that. Well folks, it does not stop there! Many in the know understand that...listing it in the MLS is where it begins! When you get a listing, you have to make sure to commit part of most of your effort in marketing your home listing and bringing people to view the home, while a majority is placed in negotiations (if in the case of a short sale). Whether you are representing a buyer or a seller, having a marketing strategy will make the difference on whether you fail or succeed.
Someone once told me, "Oh, but I am just a listing agent! The buyer's agents will show the homes." That was her marketing strategy. She listed the house in the MLS and sat there waiting for the house to sell...six months later; the house was not sold yet. This was before I even became a Realtor and I knew then that she was not maximizing her marketing efforts. A year later and by now I was already a Realtor, the house was foreclosed on...that house was my friend's house, but bound by the Code of Ethics, I could not approach my friends to relist the house with me. I know that I could sell the house for them.
If you accepted a listing, signed a contract with your clients and do not understand the commitment that you have made when you accepted that listing, then you have failed your clients miserably. A marketing strategy means that, before you even accept a listing, you should already have a plan on how you will list the property, where will you list it, what mediums you are going to use in your marketing effort, how much your budget will be and what goal you are trying to achieve. If one fails, try another and keep track of your results.
My 17 years of owning other businesses have taught me that if I do not concentrate in bringing people into my business or letting people know that my business exists, I might as well close my doors, because I will never succeed and if I ever do succeed without doing anything to market what I have, it would be due to pure luck and the success will not last. The shortest length of time that I have owned a business is 7 years and I still own that business...the longest being 13 years, which I have closed when we moved to Las Vegas from Santa Paula, California. The average length of time for small business is 3-4 years. Survival in business cannot be left to pure chance. You must be able to own it! When you own it, you take care of it.
That beside the point, here are the marketing strategies that I have used in getting buyers for my listings:
•1) Email Flyers to fellow Realtors - works great if you want to drive Realtors to show your listing.
•2) Postcards - targeting residents within the close proximity to your listed house. This is great when you have just listed the property. More than likely, homeowners within that area know someone who would want to purchase a house in that same neighborhood.
•3) Door hangers - this will bring in both buyers and sellers. Shop for the cheapest source.
•4) Flyers & Mailers - not as effective, however, my one mailing has turned into getting a client with 3 properties, all of which were listed with me.
•5) Craigslist - It is free and can drive people to your website.
•6) Feature your listing at your free MLS website and post it in Google. I cannot remember how many people have called me for one of my listings even after it was place on "contingent" status because they have found it through my featured listing via my MLS website.
Aside from the ones listed above, I still believe that the best form of advertising is through word of mouth. If you concentrate in providing the best service possible and always go the extra mile for your clients, you will make yourself memorable to them and they will always remember you. Without asking, your referrals will come in. Keeping in touch with your clients long after the deal is closed is very vital in this business.
Last but not the least, ACTIVE RAIN! Blogging about your listing in Active Rain may bring your more buyers. I have not tried this one in particular myself, but I see a lot more Realtors that are blogging about their listings here. If anyone have any success in that, please let me know.
Glena Tupas Dee, C21 Aadvantage Gold, 614 N. Rainbow Blvd, Las Vegas, NV 89107, 702-217-5241, email@example.com