In a previous blog I talked about where an agent markets clients’ homes for sale as part of the marketing mix. Not enough agents focus or spend time on the “how” of marketing: Promotion. This is the fourth in a series of blogs on the “4 P’s” of a marketing mix, called “Guide to Marketing for Selling a House”.
First, a refresher on the Four P’s:
We use the 4P’s model when deciding how best to position your homes to be competitive in the market. We also use it to identify the errancies of an expired, or ‘failed’, home marketing strategy. We go through and answer particular 4P’s questions – as we’ll define in greater detail later.
Ultimately we develop the marketing strategy from the customer’s perspective, by asking customer focused questions:
- Does it meet their needs? (product)
- Will they consider it’s priced favorably? (price)
- Will they find it where they shop? (place)
- And will the marketing communications reach them? (promotion)
Guide to Marketing for Selling a House: Part IV – PROMOTION
Promotion is all about maximizing exposure for your home – the Product. And the “how” of getting that exposure for clients.
Advertising, marketing and networking are essential to secure a sale quickly and efficiently, bringing you the home’s maximum value at the closing table. When selling your home, make sure your agent has a solid marketing plan in place, detailing how the home will be promoted before your home is listed.
For example, promotional materials (both fliers and online listings), must make your house as appealing as possible by providing high-resolution photos that highlight the positives. Homes without photos or poorly shot, amateur photos, are seen far less than those with good, professional photos. Also, the accompanying descriptions should be comprehensive and inviting.
The agent you choose should be keeping abreast of the latest technologies and online marketing trends. For instance, online video is the hottest new marketing trend for consumer products AND real estate. Facebook just reached their 1 Billion posting mark. A true, promotionally-versed agent should know how to leverage those two media.
Your agent should also have a solid plan of outreach and listing promotion to OTHER agents in the area. These agents are the ones most likely to actually sell your home. Why? Individually, agents only work with a handful of buyers themselves. When we sell our clients’ homes we recognize we need to harness the cumulative influence of all those agents with all those handfuls of buyers. Yes, we have buyers we work with. But cumulatively, all those other agents may have thousands of potential buyers they’re working with. We want them ALL to see your home and increase the odds of getting an offer, no matter which agent does the selling. If one of those agents brings a buyer to the table we happily share the six percent commission with them. After all, the goal is to get your home sold.
We utilize a list of more than 25 tools and ways we effectively promote our clients’ home listings – including the newest technologies. We use these advertising, marketing and networking tools for every home we list.
This concludes our 4-part blog series on the “4 P’s” of a marketing mix called Guide to Marketing for Selling a House. As a recap, here are the links to each of the 4-part series:
- Part I: PRODUCT – Your Home as a Product
- Part II: PRICE – Your Home’s List Price
- Part III: PLACE – Places to Advertise Your Home
- Part IV: PROMOTION – Listing Promotion
To hear more about how we promote our clients’ home listings email or call us today: RisCowan@tds.net or (678) 362-5563.