Thinking of selling your home? If yes, then you may be wondering if you hire a real estate agent how they will market your house to get it sold. I'm sure this varies from agent to agent, but this list should cover most of the practices and techniques used by professionals.
- First a real estate agent will come and meet with you and take a look at your home through the "eyes of a buyer" and they will usually make recommendations on how you could make improvements, if any are needed, before putting your home on the market. This is a very useful service because real estate agents work with buyers all of the time and know what they are looking for in a home.
- Your real estate agent will do a Comparable Market Analysis for you based on homes that have sold in your area recently which is based on their size, age, amenities, location and condition. This helps them to determine how much your home should be listed for according to Market Value. Your agent will then give you a recommendation on how much they think you should list your house for, but the ultimate decision on pricing is always up to the seller.
- Professional photographers are used a great deal of the time to take the best possible pictures of your home.
- Professional videos of your home might be used for advertising as well.
- Your listing will be put in the MLS (multiple listing service). The multiple listing service gives all local realtors, that are subscribed to the service, a list of current homes available on the market. It is the most up-to-date service available, unlike some other third party websites. Also, depending on what brokerage the real estate agent works with, often when the home gets listed it will automatically be propagated to hundreds of other websites as well.
- Your rea estate agent will place a "for sale" sign in your yard. This is great advertising that people driving by and in your neighborhood can see.
- Most brokerages have weekly meetings in their office where real estate agents can mention new listings to other realtors in the office, just in case that realtor happens to have a buyer looking for something similar to your home.
- Your home might be added to the broker tour. This is an open house, but it is only for real estate agents to come and preview the property.
- Your agent may arrange open houses that are open to the public to help sell your home. Open houses will usually be advertised by your real estate agent in local papers and online.
- Real Estate Agents will often door knock your neighborhood to let them know about your home for sale.
- Some of the best agents will actively pursue buyers for your home by calling and reaching out to people in their network.
- Many agents will send out "Just Listed" postcards out in the mail with your property featured on it.
- If you are selling a "luxury" property, special targeted advertising is usually done, which can entail putting the property in special publications and online advertising, as well as everything listed above.
The seller will need to approve of any advertising that is done on their home, which is usually agreed upon before it is listed.
I'm sure that there are more marketing strategies other than these that real estate agents use, but I think this article covers most of them.
This article only discusses the "marketing" of your property. Real estate agents do so much more than this which isn't covered in this article. Real estate agents also handle legal contracts, dealing with the buyers for you, negotiating, inspections, and MANY other things.