Someone here on Active Rain asked a question in the Q&A forum about when and how to market listings. Coming from a twenty year background in marketing, I find it to be the most powerful tool for building a successful real estate business.
Marketing the listing means a larger buyer pool, which often translates to better sales prices. Happy sellers are referral beacons. Marketing the listing also stands to put you in front of unrepresented buyers who are looking for homes, but have yet to commit to an agent, giving you new BRA opportunities. Marketing the home in general reminds people on a regular basis that you're an agent, you're a hustler, and keeps you top of mind for when they have real estate needs.
So, how do you market a listing effectively? Below are the marketing strategies I employ for new listings, depending on the target buyer.
- Always – Sign and riders
- Always – Announcing the listing on our Facebook page, and other social media accounts.
- Always – All team agents share those posts.
- Always – Schedule one of the buyer agents on our team to do an open house the first weekend after listing, mainly to find them potential buyer clients, add to our investor list when they're as-is listings, and of course, show the property to potential buyers.
- Always – listing descriptions that target who we think the end buyer wil be. For retail, we will talk about features, the neighborhood, tax rate, and make the description emotionally based. For listings that will likely be bought by an investor, we focus on features and condition and mention the ages of big ticket items, and if the item is working or needs repair and any potential modifications we think may improve the property's final value post-rehab. We gear these listing descriptions to be analytical.
- Always – Facebook and Instagram stories discussing our listings and open houses we have available that week.
- AS-IS sales – If the listing is an as-is sale that targets investors, I will email it to a list of agents whose contact info I've procured from past deals that I know work with investor clients a lot.
- AS-IS sales – If the listing is an as-is sale that targets investors, I will email it out to a list of investors that have voluntarily signed up to receive notifications of my investor special listings.
- AS-IS sales - If the listing is an as-is sale that targets investors, I will post it in local investor groups on FB. Check their rules. And it needs to truly be a deal that would interest investors. If you start posting listings in those groups that are 3% under retail, you'll get deleted pretty quick. My rule of thumb for it qualifying to be posted in those groups is buy and hold listings that would rent at 1%+ of the sales price + any rehab that needs to be done, or potential flips where the ARV - minus repairs leaves at least a 15% spread.
- Always – We share the listing to local Facebook groups that focus on AREA real estate.
- AS-IS sales - Facebook ad campaigns targeting real estate investors within 15 miles of the property.
- Retail Sales - Facebook ad campaigns targeting potential homebuyers within 15 miles of the property.
- Retail Sales where the home fits first-time homebuyer price range - Facebook ad campaigns targeting first-time homebuyers and renters within 15 miles of the property.
- Always unless we anticpate multiple offers within a few days – Video marketing of the property via YouTube.
- Always – We have a featured listings tab on our website that showcases our listings.
- Always – Professional photos. I don't care if there's no flooring and boarded up windows. We send a professional photographer. First impressions happen online and they are everything.
- High end - Dedicated domain name that forwards to a custom listing page on our website, with a custom rider on the sign with domain name.
- Retail – We send mailers to the subdivision announcing the home as being for sale. Residents can be the best sales people to convince their friends they need to check out a house in their neighborhood, and it gives us an excuse to touch new people we don't know.
- Always – Ask for the share. We we post listings, we encourage people to share it, especially if they're from the direct area of the listing.
- Always – Answer the dang phone. Do not send phone calls to voicemail, especially in the first few days after launching a new listing.
- Always – Mention neighborhood amenities. Do not assume buyers realize the neighborhood has a pool and tennis courts.
- Always – Pay attention to presentation. We run our listing descriptions through Grammarly to ensure we catch typos and grammar mistakes. To me, your listing isn't just advertising the house that's for sale; it's also showcasing your as a professional and what clients can expect when working with you.