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Marketing
The
next step is a marketing plan. Often, your agent can recommend
repairs or cosmetic work that will significantly enhance the
salability of the property. Marketing includes the exposure of
your property to other real estate agents and the public. In
many markets across the country, over 50% of real estate sales
are cooperative sales; that is, a real estate agent other than
yours brings in the buyer. Your agent acts as the marketing
coordinator, disbursing information about your property to
other real estate agents through a Multiple Listing Service or
other cooperative marketing networks, open houses for agents,
etc. The REALTOR® Code of Ethics requires REALTORS® to utilize
these cooperative relationships when they benefit their
clients.
Advertising
is part of marketing. The choice of media and frequency of
advertising depends a lot on the property and specific market.
For example, in some areas, newspaper advertising generates
phone calls to the real estate office but statistically has
minimum effectiveness in selling a specific property.
Overexposure of a property in any media may give a buyer the
impression the property is distressed or the seller is
desperate. Your real estate agent will know when, where and
how to advertise your property. There is a misconception that
advertising sells real estate. The NATIONAL ASSOCIATION OF
REALTORS® studies show that 82% of real estate sales are the
result of agent contacts through previous clients, referrals,
friends, family and personal contacts.
Why
use a REALTOR®?
All real
estate licensees are not the same. Only real estate licensees
who are members of the NATIONAL ASSOCIATION OF REALTORS® are
properly called REALTORS®. They proudly display the REALTOR
"®" logo on the business card or other marketing and sales
literature. REALTORS® are committed to treat all parties to a
transaction honestly. REALTORS® subscribe to a strict code of
ethics and are expected to maintain a higher level of
knowledge of the process of buying and selling real estate. An
independent survey reports that 84% of home buyers would use
the same REALTOR® again.
Your agent can help you write a legally binding, win-win
agreement that will be more likely to make it through the
process.
Your agent can help you objectively evaluate every buyer's
proposal without compromising your marketing position.
Unfortunately, home selling has become a more complex
business than it used to be. New seller disclosure statements,
longer and more mysterious form agreements, and a range of
environmental concerns have all emerged in the past decade.
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