Most of the country is in a “buyer’s market”, which means there is a large inventory of homes. For the seller, this translates to mega-competition when trying to sell.
This is the time to find marketing opportunities that go above and beyond a sign in your front yard and a local newspaper ad. Actually, the newspaper ad for selling homes has been over-rated by sellers for a long time. As a Realtor, I often get pressured by sellers to “see their home in the newspaper”. Many Realtors will tell you they satisfy sellers by advertising in the paper, but don’t expect much response. This seems really crazy to me. Spending money, but not expecting a good return on the investment. Sellers should ask for marketing of the property that will elicit response. Realtors should educate sellers and work to market properties effectively.
Here are a few ideas to consider when marketing a home for sale:
There are many ways to view a home now without actually going to the home, so the traditional open house has become antiquated. Look for a progressive twist on the open house concept. If you live close to a school open your house when school is getting out. Post signs from the school to your home. Send a direct mail piece to families in that school district with children in that age group (you can buy mailing lists that do this). You may get parents before or after they pick up their kids. Be sure to have healthy snacks available because the kids will be hungry.
If you want to reach professionals, consider an open house from 5pm to 7pm. Post signs from local office buildings to your home. Put them up the night before, so they will see them on the way to work. You may need to put them out again the afternoon of the open house because property maintenance folks could take them away. This is a small fee, as the signs only cost a few dollars. Send flyers to each office in the area and, for this group offer juice, wine, beer, cheese and crackers.
Post your listing on free websites, such as Craigslist.com. You can write your own ad, post pictures, and change the ad anytime you want for FREE.
Check out the huge phenomenon that is YOU TUBE. Upload your home video.
Auctions are hot, hot, and hot. There are local companies to auction your home, but be careful. Many companies require a significant amount of advertising money up front with no guarantee the house will sell for the price you want. The buyer usually pays an additional 10%, which is the auctioneer’s commission. If choose an absolute auction, you can potentially sell your home for pennies on the dollar. These have been a lifesaver for some sellers, but just make sure you understand everything about the process.
There are other auction opportunities. Consider Ebay because you can set the reserve, but be sure to research how much it will cost you to sell the home on Ebay. There is a new concept being explored right now and we may see it in the next few months. A company called the Auction Network will be selling all sorts of items, including homes, on television and the internet. Bidding will be by phone and online. Read about it at www.AuctionNetwork.tv.
The idea is to think progressively when selling a home in a buyer’s market. Remember you are looking for a return on your investment and not just any ad in any newspaper. Running an open house including signs, refreshments, mailings and flyers may cost as little as $50 and give you a large return on your investment. An ad on Craigslist.com is free, so the return is going to be huge. You will have a much better chance of selling your home if you think, and act creatively. Go forth and prosper!VOD and on TV-Auction Network delivers adrenaline-fueled entertainment. From high octane auto auctions to the sale of million dollar thoroughbreds, from exclusive wine auctions on the west coast, to the east coast's art collectibles, there's an auction for everyone and everything and Auction Network will deliver it all right here. Bid Online and experience the thrill of participating-play for real or play for fun. Either way, you're in the game!