Your agent will help you develop a step-by-step plan designed to maximize your home's exposure. Marketing directly to buyers through a blend of ads and promotions is key to selling your home. However, since most potential buyers will hear about your home from another agent, your plan should also focus on the real estate broker community. Frequent broker caravans (tours), distribution of flyers, and your agent's private referral network will help keep your home in front of the local real estate community.
Your first step in merchandising your home is to prepare your home for the market. Our Interior/Exterior Action List will help you do just that. We've helped over a million homeowners prepare their homes for sale and maximize the features that will most appeal to prospective buyers.
Discuss the following marketing tools with your agent:
- "For Sale" sign in your yard
- Lock box
- Computerized listing service
- Home feature flyer, with color photo and home specifics
- Financing flyer, showing available financing plans, interest rates, and monthly payment examples
- Home preview by your agent's office and associated offices
- Publichouses
- Broker caravans
- Direct-mail campaigns (flyers, posters)
- Local, regional, and national newspaper advertising
- Color photo magazine listing ads sponsored by your agent's firm
- Web site listings
- Talking houses
Adjusting to Market Response
If your home has been on the market 30 days or more without a serious offer, it's time to reevaluate your marketing strategy.
Discuss the following with your agent:
- Evaluate the number of showings — if it is low, your price may be too high
- Get prospective buyer and agent feedback after every showing
- Review competitive listings and sales
- Review your agent's marketing actions and promotional activities to date — are you satisfied with the type and amount?
- Consider incentives instead of reducing the price: cash for the buyer or agent; a carpet, landscaping or minor repair allowance; homeowner's association dues paid for a limited time; a complimentary security system, appliance, etc.
Based upon the above information, what are the agent's recommendations to enhance the marketing strategy? Unless market conditions indicate that you should, don't immediately move to lower the price.
Required Inspections
It is your responsibility to make sure that your home's systems are in good working order. Your agent will tell you which of the inspections are typical (or required) for your home and neighborhood. Some typical inspections are termite and pest, radon, roof, structural, septic, soil, water potability, and pool. Make sure your agent informs you of the disclosure laws in your state. In general, your obligation as the seller is full disclosure of all facts and knowledge pertinent to your home's condition.
