Real estate marketing is critical to selling your home quickly and for the most money possible. After all, without it, how will buyers be able to find your home? More importantly, without the right marketing, how will the right buyers be able to see your home at the right time to attract the best offers?
Simply put, not all real estate marketing is created equal. And knowing the difference will make you a much more savvy (and profitable) home seller overall. That’s why we’ve compiled this list of real estate marketing myths so you can make strategic, informed decisions when it comes to choosing the best REALTOR® and marketing strategy for your home.
Here are the top real estate marketing myths every home seller should know.
Myth Number One = Advertising, In Any Capacity, Will Help Your House Sell
You’ve probably seen home ads cropping up on social media. Despite the dramatic shift to online, it’s also common to see these ads in newspapers, flyers and the free real estate magazines you pick up in grocery stores. Did you know that fewer than one percent actually buy the home they saw in the ad? This begs the question: Why do REALTORS® continue to promote these ads?
The truth is, home ads are designed to serve REALTORS,® not maximize value for the consumer. For this reason, choosing a REALTOR® or real estate agency based on the frequency of their ads is often a recipe for disaster.
Like any form of advertising, REALTORS® run home ads to get noticed. The more you see a particular agent, the more likely you are to inquire about one of their listed properties. Once a REALTOR® has an idea of what you’re looking for, they have an opportunity to contact you, ask you more detailed questions and convince you they can help you find a match. As soon as you agree, you’ve selected your REALTOR® by default.
The reality is, the home sellers should be reaching out and asking the questions, not the other way around. Rather than choosing an agent by default, sellers should interview REALTORS® based on their qualifications and experience. All agents have access to the same property information, regardless of who you work with. That’s why you should look for a REALTOR® with experience, stellar communication skills and who matches your personality and style.
It’s also essential for home sellers to understand how comprehensive home marketing programs work. Overall, more homes sold are sold through fully-realized home selling systems than by Multiple Listing Service (MLS) and house ads alone.
See also: How Long Will It Take to Sell My Home?
What is a Home Selling System and How Does It Work?
When it comes to selling homes, programs such as the Terry Paranych Home Selling System are specially designed to sell your home quickly and for top dollar:
1. Pricing Your Home Correctly the FIRST time
Selling your home is all about pricing it correctly. The first two weeks on the market are crucial for attracting the right buyers at the right time.
To develop a successful pricing strategy, a reputable REALTOR® should first understand what your home is worth based on current market conditions (hint: the value might be higher than you think). Second, your property should be displayed to thousands of potential buyers on the daily.
2. Round the Clock Multi-Platform Outreach
In addition to listing your home on MLS, your agent should have an extensive marketing reach. Besides traditional media, your home should be advertised across multiple channels, including social media (Facebook, Instagram, Twitter, etc.) and your REALTOR’S® website. Your property should receive maximum exposure all day, every day, until it is SOLD.
3. A Reputable Brand
A recognized real estate brand goes a long way in delivering a powerful marketing message to potential home buyers. Reputable Edmonton real estate brands can reach thousands of people in the capital region each year with powerful marketing messages. So don’t settle for average when you can count on a top Edmonton real estate team to sell your home quickly and for the most money possible - all while helping you find your next home.
4. A Full-Service Team
When you choose to work with a well-recognized real estate group, you decide to work with an entire team of experienced real estate professionals. Your agent’s seller, buyer, marketing, and customer service departments should work together to deliver exceptional results and a memorable home selling experience of extraordinary value.
5. A Full Satisfaction Guarantee
If you aren’t satisfied with your REALTOR’S® service, you should be able to cancel anytime. Providing the best real estate and customer service should be your agent’s top priority.
Myth Number Two = Open Houses Are the Key to Selling Your Home
There’s no question that selling a home can be stressful. First, you’re likely to have many REALTORS® compete for your listing, each trying to convince you their efforts will help you sell your home. In most cases, they’ll tell you how much they’ll advertise your property, pull out the old signs from their trunk, and promise an Open House every weekend until it sells.
Remember how house ads tend to serve the real estate professional’s interests? An Open House works much the same way. While they bring a steady stream of people interested in buying a house, they’re not necessarily interested in buying YOUR house.
In many ways, Open Houses are yet another tactic used by (some) REALTORS® to drum up future business for themselves. Less than one in 10,000 people who walk into an Open House buy the home. It requires a great sacrifice on your part while providing very limited results.
Myth Number Three = REALTORS® Need to Constantly Schedule Buyer Showings
One of the biggest fears in home sellers’ minds is that they’ll list their home with an agent who doesn’t bring any buyers to view their home. This is actually a best-case scenario!
Check out: Sometimes Even the Best Homes Don’t Sell
Ideally, when selling your house, you want to find a REALTOR® who is an expert in listing and multi-platform marketing. Listing specialists work on marketing your home and making it the focus of their activities so your home is consistently presented to sellers and their agents. Unfortunately, a real estate professional who is constantly showing homes to buyers doesn’t have the time to network and expose your home in the same way.
When listing, make sure your REALTOR® has a plan for showing your home to other real estate professionals. Ensure their listing materials and marketing efforts are of high quality and check online reviews. A good reputation goes a long way when it comes to attracting other agents to your home. This will maximize exposure for your property, and that’s exactly what you want from your REALTOR.®
Myth Number Four = Working With Multiple REALTORS® Will Give You More Exposure
While the first three myths have been geared toward home sellers, this fourth point is for home buyers.
When home buyers don’t understand how the MLS works, they often bounce from agent to agent. They hope one will magically find the perfect home at the perfect price within an hour of meeting them. There’s a better way.
Because all real estate professionals have access to the MLS, the best approach to selecting the right representation is to partner with ONE agent. Let them get to know you, your wants and needs, and they’ll have the best chance of finding you your dream home.
In addition, REALTORS® who have your loyalty are more inclined to go out of their way to find you exactly what you’re looking for. Often, real estate professionals don’t apply the same effort to a home search when they don’t have that loyalty.
Rather than rush you through the process, a good REALTOR® will have their clients complete a “Buyer Questionnaire” before looking for properties. The questionnaire lets agents get to know you better and understand your wants and needs. Then, once they’ve done sufficient research, they’ll show you a list of prospective homes and take you to see the properties you’re most interested in.
Note: A “Buyer Questionnaire” allows REALTORS® gain valuable insight into you and your family’s wants and needs. It also ensures the buyer doesn’t waste time and money on homes that don’t meet that criteria.
If a REALTOR® attempts to immediately put you in the car and look at properties, be careful. Letting you fall in love with a home without analyzing your needs can lead to hasty decisions and buyer’s remorse. Instead, a leading Edmonton REALTOR® should treat their career like a self-owned business, which means they take pride in forging long-term relationships that ensure they always act in the client’s best interests.
So, How Do You Choose A REALTOR®? (And NOT by Default)
It’s important to remember that all real estate professionals have access to the same information, regardless of who advertised a house. That means, any real estate professional will be able to tell you about the home being advertised. Unfortunately, this also means that if you choose a realtor based solely on the ad, you’re doing yourself a huge disservice.
By keeping these three points in mind, you will be able to choose a REALTOR® that’s right for you and your individual needs:
1. Look for REALTORS® With a Strong Reputation
A top REALTOR® doesn’t run home advertisements or classifieds. Instead, they have a strong marketing presence and a proven home-selling system. Also, ensure each real estate professional provides you with a seller’s questionnaire. While it will help them determine what you’re looking for, even more importantly, it indicates they provide quality service.
2. Make Sure They’re a Match for Your Personality
While qualifications are essential, it’s important to focus on personality. After all, all licensed real estate professionals can do the same things - so look for someone you can relate to, trust, and confide in.
3. Make Sure They Understand You
For a real estate professional to provide you with the best service, they need to understand your needs and wants. Be clear and specific about your intentions. Be sure your REALTOR® are on the same page and that they’re confident they can meet your needs.
Contact the Terry Paranych Real Estate Group to schedule a FREE home evaluation. Our proven 24/7 home selling system will not only help you determine what your home is TRULY worth based on today's market conditions, but also sell your home quickly and for the most money possible!
Not sure if you’re ready to sell? No problem! We can simply suggest ways to improve your home’s value until you feel confident about hitting the market.
We also invite you take advantage of our many free home seller’s resources, including:
Are you thinking about selling your Edmonton home? Our Seller’s Resources can help you sell your home quickly and for the most money possible:
- The Terry Paranych Real Estate Group Seller’s Guide – You will be guided through the whole home selling process from start to finish, including pricing your home correctly before you list it to negotiating with buyers.
- 12 Common Mistakes to Avoid When Selling a Home – Home sellers, no matter how experienced, can make mistakes. Use our guide to ensure a successful, hassle-free home sale.
- The Terry Paranych Real Estate Group Home Seller Blog – Everything you need to know about Selling a home in Edmonton, including tips, tricks, and advice.
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