Question: “Rachel, how do I market my home? I’m trying to decide on if I want to use a realtor or sell it myself. Realtors say they can market the home more effectively. In your experience, if I do sell myself can’t I simply stage it then sell it? Isn’t marketing just selling? I think I can do that on my own.” from Home Owner in Burlington, Ontario
Answer: Hi Brenda,
Wow this is a loaded question and I will post your answer on active rain as there may be some realtors who may want to add a comment on this question as my specialty is home staging and primarily in the Toronto market.
Since this is a two part question, let’s first tackle marketing and differentiate “selling” and “marketing” before we look at how to market your home.
Simply put, marketing is the process of creating an image of your home in the eyes of a buyer that will entice them to put in an offer, a process that is typically achieved with the 4P’s.
Selling on the other hand, are the techniques used to get someone to buy something. Selling is most effective when it is done in conjunction with an effective marketing strategy.
So what are the four 4 P’s when marketing your home?
1. Development of a Product: This is when you want to begin getting your home ready for sale which should include home staging. If you keep in mind your home is the “product” then it makes sense you want it packaged in a creative and positive way.
2. Price: This personally is when I really would strongly recommend you consider using a realtor. They have up-to-date information on homes that are selling in your area. I personally think pricing is one of the most important parts of an effective marketing plan. This will determine if you sell or not. At the end of the day nothing, not even home staging can change a demographic so price it right from the start!
3. Place of distribution: This clearly is where your home is located, which will be reinforced by the MLS system and communicate to buyers looking in your location.
4. Developing a strong Promotion strategy: This is when you can really utilize the benefits of a realtor. They will get your listing to the MLS system which is the most widely used source that buyers will look to when buying a home. In order to ensure you have the best “promotion strategy” you must also ensure the pictures that will be selling your home on MLS are at their best. This is why your home should be beautifully staged before going to market.
At the end of the day, you can try to sell your home on your own, but there are definitely many benefits to working with a team of professionals that have the expertise to make the most out of your home selling experience.
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