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Residential Real Estate Marketing
Key Takeaways:
- The internet landscape is crowded with property listings
- It takes money and expertise to stand out
- Professional photos are only the beginning
- Seller’s need a tech-savvy agent & brokerage who make investments in listings
This is really a two-pronged message for both Sellers and Realtors.
I recently read a blog post from a purported real estate, “Expert” who said that in the “Internet Age”, Marketing was a thing of the past. He stated that marketing was just a Realtor catch phrase used to ensnare hapless sellers who did not realize they could sell their property themselves, online, and save the commission. The “Expert” went on to say that Price and Sale Terms were really the only two factors which controlled if a property sold and for how much. Yes, a few pictures with your cell phone camera and a quick upload to Zillow is all it takes to sell your home for top dollar! I wish someone would have told me this, years ago!
Wow. You know, the sad thing about this perspective is not only that it exists, but it is in how pervasive the viewpoint has become. I know many realtors, none who work for Amherst Madison Legacy, who secretly (or not so secretly) share this “Expert” point of view. You can always pick out the silent type from a crowd by looking at samples of their marketing. The lackluster effort makes it painfully obvious. Is it any wonder, then, that a good portion of the selling public is confused as to the value of affective marketing? Is it any wonder that Realtors are constantly encouraged to discount fees and constantly challenged to justify how they earn their commission?
Realtors – You are committing career suicide for not only you, but our entire industry, by purporting the viewpoint (in silence or hearty agreement) that Price is all that matters and Marketing is nothing more than a catch phrase. I fear, out of simple laziness and desire to avoid being held to a standard, many agents and brokers will continue to struggle in representing their seller clients to the standard they deserve. As data and information become infinitely available to our clients, your ability to pull sold “Comps” will matter less and less. No amount of data, however, can replace expert market knowledge on what buyers in specific micro-markets are seeking, and how to best position the property to capture those buyers. No amount of information will replace a Marketing Realtor who treats their listing as the investment it is, and invests up front marketing dollars to push the home to the front of the pack.
I know of 5 Boise, Idaho homes (off-hand) which Amherst Madison Legacy Sold in the last 12 months, for 4%-10% MORE than the previous Listing price. In all 5 cases, the property had just come off the market as a Cancelled or Expired listing, less than 60 days before we brought it back to market. In all 5 cases, the property was pending in under 30 days. In all 5 cases, the Marketing Realtor invested the up-front time, money, and expertise; to ensure the property was where it needed to be and looked better than the competition. For every home that did not sell at all, I could cite several others where a home sold, but sold for less money than it should or sat on the market for twice as long as it needed to sit, due to poor marketing by the listing agent.
The Internet Age has made for a crowded landscape. It is more difficult than ever before to stand out from the crowd. A good Marketing Realtor will know how to get the job done.
I am going to follow up this resource post with 5 simple questions a seller can ask their agent, to cut through the noise and chatter of a weak Marketing Realtor.
Questions?
Should you, or anyone that you know, have any questions related to this post, please do not hesitate to reach out via phone, email, or text. I am passionate about helping others along their real estate journey.
— Nick Schlekeway
