Home sales are down in many areas. When this happens, how do you market?
Some agents have tried gimmicks like giving away a big screen TV or even a car with every sale. In general, however, such things don’t work well in a slow market.
Here are a few things that agents have found work for them.
1. Exposure of homes through the Internet, especially by providing virtual tours. Nearly 80 percent of home buyers reported using the Internet during their home search. Statistics also show that listing with pictures are viewed 250% more often that those without.
2. Sponsoring seminars for the community on various real estate related topics like buying a condo, legal issues concerning home sales, selling a home in a slow market, etc This gets their name out there so that people are more likely to choose them to sell their home. Remember, it takes 7 contacts of some kind to get a new customer
3. Revamped websites with such features as “Call Me Now” buttons that actually result in a phone call from the realty company immediately. (Talk about service!)
4. Offer home staging. As you know, your client’s home becomes a house as soon as you put it up for sale. It is a product. Staging your client’s property gives a more competitive edge in today’s market by transforming it into a marketable product. A staged property helps you sell their investment for top dollar and is the first line of defense over lowering the price. Do not let them settle for less at the closing table simply because they did not understand the value of staging or did not want to take the time or spend the money to do it properly. As a realtor, home staging can be your edge over your competition. How does a home buyer choose between 2 very similar homes? The one that is staged is the one that will sell.
5. The use of innovative mortgage products – of course, be careful that they are innovative and not predatory!
Home stagers need to pay special attention to numbers 1, 2, and 4. Staging a home will help it sell faster and make photos and virtual tours more beautiful. Additionally, you could be a valuable asset to the seminars provided by agents!
Remember, no matter how slow the market, houses are selling. You simply have to be creative in your marketing to find those that are buying.
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