It's a National Association of Realtors Fact that about 65% of all buyers will buy a home less than 20 miles from the one they now live in. I find this to be an utterly fascinating statistic and one that most Realtors I know are not even aware of.
What this represents to me is a great opportunity to talk to sellers on a level they can easily understand and one on which you can generate a ton of traffic for them. And, make no mistake about it; traffic is the single biggest key to getting a home sold in today's rough market
With thousands of homes listed for sale all over the country ( A 12-14-month supply and climbing), sellers better find a way to stand out if they want to have any chance of getting noticed, much less get an offer.
There are a number of very effective ways for sellers to put their home sale in front of tens of thousands of people every single day for little or no money and ways to "recruit" a small army of sales people to help spread the word.
Unfortunately few agents know this stuff. Unfortunately few agents will be willing to embrace this stuff.
But if our biggest job is to "market" the sale of our client's homes in the most effective and comprehensive way possible - to wring every single ounce of exposure out of today's hard rock marketplace - than agents better set aside the old ways of marketing and start thinking outside the box.
Think about it. What do most agents do to "market" a home?
Pound a sign in the yard, list in the MLS, include the listing in a weekly newspaper ad and the company website, make a flyer. Wow! Been doing the same thing, the same old way for decades.
And if that doesn't do the trick, which it isn't these days, what do agents tell their sellers?
"Cut the price, cut the price and then cut it some more"...just what a seller does not want to hear and, when you look at it another way, puts the marketing responsibility squarely on the shoulders of the seller. I thought the agent was being paid for their "expertise".
Now, don't get me wrong, I think the right price is critical, but I'm making the assumption here that the home will be listed at a competitive market price.
It will be a very uncomfortable moment for most agents when a seller asks "What are you going to do other than the "usual" to make my home stand out and get sold?" Now, here's your opportunity to step up and say "I'm glad you asked!"
It will surprise most agents to know that there are at least 20 things that can be done to market a home locally (and nationally at the same time) other than the "usual".
Now I could make this post really long by going into an explanation of each one of them but what I wanted to do here is simply open up the possibilities. I'll go into more detail in subsequent posts. But here they are:
Craigslist, Highest bidder pricing, Home website, YouTube and other social media, Neighbor's private preview (this one rocks), Buyer incentives...merchandise, trips, cars, gas, etc., Free publicity (very doable and powerful), Merchant participation, Paid closing costs, 24/7 info hotlines, Paid moving costs, The "rolling billboard" (awesome), Bandit signs, Business cards, Rent a booth, Other seller co-ops, Seller financing (could be the key to a sale), Home warranties, Shared-equity, Down payment assistance, Talking it up.
OK, I can feel it now. R-e-s-i-s-t-a-n-c-e.
Well, get over it! This list offers an opportunity to literally blanket a market with a comprehensive selling campaign that will slam dunk other sellers, guarantee a lot of traffic and bring offers!
So, before you pooh pooh it, think a minute and decide whether or not you want to do the best job you can for your sellers. I can guarantee beyond a shadow of any doubt that sellers will eagerly embrace this information because it's different, easy to understand, and effective!
Sit down with them and talk about these possibilities. You will be an instant hero.
David Pazdernik, www.myhomesold-now.com
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