There is more to selling a home than simply putting a “For Sale” sign strategically on the front lawn. While a sign is of utmost importance in selling a home for sale, a well-designed marketing plan is also an essential part of the equation
Search Realty provides five essential tips for marketing a home for sale. These five tips can ensure that not only is a home for sale sold within a realizable length of time, but also at a reasonable price.
1. MLS
The first essential tip involves the use of MLS. MLS is Multiple Listing Service, and is a vital component in the home selling process.
MLS is a sophisticated computer database of properties indexed by price, location, type of home, number of bedrooms, amenities and so forth. It is a co-operative marketing system that ensures maximum exposure of homes for sale. Of course, a realtor may already be aware of potential buyers for a home, but listing a home on MLS will ensure exposure to all other realtors in the area.
2. Setting the ‘Right’ Price
When working with a realtor, the time eventually comes when a realistic selling price must be set. A realtor comes in handy in that they have intimate knowledge of current market conditions. A realtor can also access and utilize MLS to determine sale prices for homes that have recently sold in the same neighborhood as the home for sale. A realtor thus, is the best bet for determining an appropriate price range for the sale price of the home.
The home seller should always disclose everything they can about the house and the neighborhood to the realtor. This helps the realtor find potential home buyers whose needs and wants match what the home and neighborhood have to offer.
3. The Marketing Plan
The marketing plan starts when a listing agreement is signed. The realtor will inform the home seller of the advantages of selling the home through MLS, and will also provide additional marketing tactics that can aid in selling the home.
One important note is that when a home is ready to be sold, the “For Sale” sign, which is perhaps the most powerful and direct marketing tool of all, should go up in front of the home for sale to catch the attention of those passing through the neighborhood.
There are additional ways to market the home for sale, including flyers, newspaper and other advertisements, and one important one, which is an “Open House”.
4. Open House
An open house can be an extremely effective marketing tool. During an open house, it is important that the home buyer remember that any other family members (including pets) are absent, so that a potential home buyer will feel relaxed and open when viewing the home. The most important note regarding an “Open House” is that the home buyer ensure that the house is clean and uncluttered (both inside and out), as they want to give potential home buyers who are viewing the home the ability to envision themselves in that home.
5. Flexible Closing Date
The last tip revolves around the closing date. Flexibility on the closing date is an important factor in the successful marketing of a home. Problems could arise when home buyers and home sellers cannot agree on a closing date. This can lead to a stall in negotiations, and maybe even a loss of interest on the part of the home buyer. The more flexible the closing date, the easier and more smooth the sale of a house can go.
Once the marketing takes effect, the home seller can rely on the realtor to deal with offers and finalizing the sale, always guiding the home seller throughout the entire process. Selling a home is often the most important financial decision that one makes, and if contemplating selling a home, that home seller should always be fully aware of the potential of their home and the marketing tools available to them.
