A great marketing strategy for a home, begins with the enhancement of its appeal and desirability (in a previous article, I explained how you could “dress your house for success”). However, once a home has been “enhanced”, the objective turns to “getting the word out” and “creating buyer flow.”
It is enormously important for a seller to realize that the “creation of the market” is the definitive responsibility of the real estate agent (and company) they hire! Because, it is only through the maximization of buyer flow, that a seller can be ensured that they will receive the highest price for their home “the market” is willing to pay. Simple economics tells us, if you increase demand, values go up!
With that being said, a seller must also realize that every real estate agent and the company they work for are not the same. As such, the marketing strategies they implement and the “resulting markets they create,” can and will be dramatically different!
Truth be told, “any” real estate agent can plant a for sale sign in the yard, advertise the home in the local newspaper, multiple listing service (MLS) and on internet; with a few national real estate websites.
However, the objective of a real estate agent should be to garner the attention of the greatest number of potential buyers and to bring about the creation of the biggest market. Therefore, the real estate agent’s efforts will have to go well beyond the simplistic approach stated above.
To better understand this, let’s look at the analogy of catching fish. Begin by asking yourself this basic question: which fisherman will catch more fish? A fisherman who only casts a few lines in the local fishing hole? Or a fisherman who casts a few lines in the local fishing holes and in the best fishing holes in the nation while spreading out huge nets around the entire globe? Undoubtedly, it is the latter.
Well, the same is true in real estate. The real estate agent (and company) who can “catch” the attention of more potential buyers, will undoubtedly create the biggest market, resulting in an increased demand for the seller’s home and ensure the seller they will receive the highest price for their home the market is willing to pay!
I am not suggesting that by simply increasing the advertising a seller will obtain more than what their home is worth. No amount of marketing, can make a buyer pay more for a home than they are willing to pay!
However, I am stating that, if a real estate agent (and its company) can attract the greatest amount of potential buyers to bid on a home, the results will most certainly make a buyer(s) “pay more than they wanted to pay.”
Therefore, if a seller wants to ensure they receive the highest price for their home, it is imperative they hire a real estate agent (and company) who will truly “create the market” for their home and make it the biggest it can be!
To learn more about how to “create the biggest market” for your home please, contact your local real estate agent or anyone of the real professionals who advertise in HomeFolio Magazine.
- Greg Boudreau: Make Your Clients Remember You - August 6, 2013
- The Definitive Responsibility of Your Agent Is to Create the Market for Your Home - April 25, 2013
- The San Ramon Valley Real Estate Market: Still Hot- With No Bubble in Sight! - March 20, 2013