Selling Your Home: Establish a Marketing Plan

The process of selling your home should be approached with the same discipline as any business sale. You are looking to make a profit for your financial future, and the timing and price of the sale will determine this profit. Therefore, you should ask the right questions of your realtor to make sure your plan is focused.

How Will you Set the List Price?

Perhaps the most important part of marketing your home is determine the price of your listing. Your price will speak directly to a certain demographic, and you need to make sure that demographic will find your home appealing. Ask your realtor the factors used to set your price. Factors should always include comparable market listings in your neighborhood. The factors should additionally consider marketing research on just who is looking for a home of your size in your neighborhood. For example, if you are in a community for young families, you will need to list at a price that will be approachable for first-time home buyers.

What Will you Include in the Listing?

Your marketing research goes beyond price to include questions on just how you will describe your home for listing. In the above example of a home you are marketing to young families, items like proximity to schools, a yard, a quiet street or a play room will be highly desirable. These will not appeal to empty nesters, however. Instead, you should focus on things like community tennis courts, grounds keeping or a nice master bedroom. Usually, you have one page to tell potential buyers why they should come see your home. Make sure you are speaking to their key desires. When in doubt, ask yourself: What appealed to me about this property when I purchased it?

How Will you Use the Internet?

Today, it is essential to have a good Internet marketing campaign to sell your home. You will want to list on all the major real estate search engines, such as the MLS, Frontdoor.com and Realtor.com. Within these listings, you need an interactive experience. Posting just one photo may put you behind properties with 10 or more photos posted. People will begin to question what you are hiding. Ask your realtor how your photos are being catered to Internet viewers. Consider using a video, where possible, to give a virtual tour of your home.

Are you Planning Open Houses?

Even with all the tools of marketing sheets and Internet listings, a good old-fashioned open house can be a great weapon to draw in large numbers of potential buyers. Ask your listing agent about any planned open houses, the timing of these events, and how they plan on hosting the event for success. For example, experienced sellers know to place a pie or cookies in the oven before showing the home. The scent is inviting and will make the home feel comfortable, even if you are no longer living there. Food, beverages and music can be a great addition to an open house; a completely quiet home can be uninviting.

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