Best Practices When Listing a Home
General Real Estate
May 1, 2015
Written By: Judy Houston
The promotion of a residential listing has seen many changes and variations in the last decade. Now, there are numerous ways to do it and there really isn’t a single mass-market venue out there anymore. Some best practices that will give a listing agent the most exposure includes a combination of online marketing, “tried and true” practices as well as the use of vendor programs. The result of the combination can produce very favorable outcomes and ultimately increase sales.
Online Best Practices
Modernize Your “For Sale” Sign
Agents have the option to add lead capture sign riders to a “For Sale” sign. The two examples below highlight how a simple “For Sale” sign rider when combined with modern technology can maximize a home listing selling potential (there are many more.)
- Establish a Text Code for a Mobile Tour: potential buyers driving buy a property can text a number shown on the sign using an established code to receive a “mobile tour” directly on their smartphone. The listing agent than receives an instant notification with a potential buyer’s contact information to follow up.
- Display a QR Code: A QR code, which is a barcode that is a machine-readable optical label, can contain detailed information about the listing – more convenient and eliminates paper flyers.
Use Social Media and Company Websites
When an agent lists a property, most real estate firms feed their listings to literally hundreds of websites. Also, listings can be posted to Facebook, Twitter and YouTube as well as numerous other media or video sharing sites. This will give a listing agent a further reach for minimum costs and exposes the property to a national and international audience. When using this option, remember to always refer back to your Broker’s company manual for acceptable online guidelines.
Explore Electronic Real Estate Magazines
Recently, I posted a luxury home listing to “Doorways International”; an electronic luxury home magazine. All Certified International Property Specialist (CIPS) designees are permitted to post luxury listings to this full-colored, beautifully designed, on-line magazine. It also gives the listing agent an option to include a write-up about Arizona cities such as Scottsdale to further capture the reader’s interest on the beauty of the state. The seller and listing agent will get international exposure with this method. Approximately, 7 of 10 buyers in the Arizona market come from outside of the state to purchase a home. This magazine is a great tool for national and international exposure.
Send an Electronic Invite Before Your Open House
Prior to an Open House, the listing agent, escrow officer, lender and title contact may send an online invite to their respective databases. Agents may also want to use their mobile devices for the potential buyer to sign-in before viewing the home. This allows the agent to capture the potential buyer’s contact information and build a list for the day for efficient communication with the potential buyer for follow up purposes.
“Tried and True Best Practices”
Use Print Exposure
Local newspapers as the AZ Republic, www.AZCentral.com, numerous real estate magazines, and specialty publications such as “BRIDEL&BIT” for horse properties remain effective
Make Use of Home Tours
Most real estate companies conduct sales meetings that include a Home Tour of listings. Many groups such as the Scottsdale Association of Area REALTORS (SAAR) also conduct Luxury Home Tours. Placing your listing on the tour schedule can expose a property to buyer agents as an additional way to help procure a buyer.
Real Estate TV Shows
Luxury Home TV shows such as “AZ Million Dollar Homes” on ABC-TV feature million dollar plus homes. The show airs monthly on the 3rd Saturday of the month at 5pm, hosted by Diana Sullivan.
Many real estate vendors such as lending and title companies provide free listing programs for listing agents. Lenders supply financial sheets for property listings or they may have formal programs. Another program called Equity Escrow Advantage provides a savings to the buyer and seller in the form of reduced escrow fees. There are a number of other vendor support options out there that include professional brochures, special invitations, sponsorship of Broker Opens and more, for a nominal fee or for no cost at all. Do your homework and find a vendor that will complement your listing strategy.
A huge revolution has transformed marketing tactics for listing agents. Many venues provide 24/7 exposure to local, national, and worldwide buyers. I’ve only listed a few practices that have been proven to work, but there are many more. Take the time to develop a Marketing Plan that you can share with the seller that displays your listing strategy. Remember to combine a select number of “tried & true” practices, online methods and vendor programs that fits your business model. A Marketing Plan will demonstrate to your prospective seller that you have a strategy to capture buyers and generate offers on their property.