Home Selling in Phoenix>Question Details

Roni, Home Seller in Phoenix, AZ

What is considered a superior marketing plan when selling a home in a depressed market?

Asked by Roni, Phoenix, AZ Fri Sep 25, 2009

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Roni,

It will depend on the target audience for your property. But it will usually include a strong web exposure, printed media (newspapers, magazines) exposure, mail media, professionally made flyers, home staging, virtual tours, general open houses, broker open houses and, of course, the most important of them all is always to be listed on the MLS. The quality of the pictures and wording/description used on the MLS and general marketing material will make a big difference.

Which websites to be and what printed media and/or mail media to use will again depend on your target audience. The type of location of your property will be a determining factor for your target audience.

A good real estate agent will be able to help you identify a solid plan for your specific case.


Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
http://www.SmartAZRealty.com
1 vote Thank Flag Link Fri Sep 25, 2009
PRICE, PRICE, PRICE.

No magic bullet, it`s all about the bottom line, now if it appraises is another question.

ARMLS listing with tons of pictures. Sparse home staging, new paint, and clean.

Of course the home must be available 24/7 no tenants.

Sorry it`s not rocket science

Good Luck
Patrick
Web Reference: http://www.AZRE.TV
1 vote Thank Flag Link Fri Sep 25, 2009
Mr.P, Other/Just Looking in Arizona
MVP'08
Good morning Roni.

My job, within our team, is primarily marketing and advertising. I believe a superior marketing plan has several facets that fall into two principle categories: the product (your home) and exposing the product to the largest audience possible.

The home has to be attractive to the audience of buyers the marketing generates. In the current market this varies by price range and competition. Your icon says Phoenix and there are a number of different markets in the City of Phoenix as well as home types.

If your home has a value of less than $200,000, there will be a lot of potential buyers since this market segment is hot right now. As the value increases, the potential buyer pool goes down. Thus, competitive pricing is more important as home values rise.

The home itself will sell at its highest price if well maintained and appealingly staged. First opinions are of high importance. We evaluate our client's home and provide professional advise on this matter.

Bottom line, the product has to be as pleasing to the eye as possible and competitively priced against the competition.

Attracting an audience of buyers is the next step. My take on this is simple... use every technique possible to expose the home to the largest number of buyers possible. As others have said, the emphasis needs to be internet based with a balance of traditional techniques employed.

We personally have 9 real estate web sites, author 2 real estate blogs, write for several newspapers, are featured on TV news often, and are guest authors and commentators on another 30 or so web sites. To be honest, most of this internet presence will do little to sell your home. The real key, internet-wise, is to get your home listed on as many sites as possible where the public and other real estate agents search. Below are a few of the 40+ sites we post a home.

ARMLS: The most important site. The odds are, a real estate agent will find and bring the buyers of your home. Make sure your agent is a member of ARMLS and knows how to use the system to it's full potential.

Realtor.com: Arguably the most used consumer site. It is very important the listing agent is at least an "Enhanced Listing Member" of Realtor.com. Only about 5% of the agents are and this makes a HUGE difference in placement and visibility on the site.

AZCentral.com: Much used in the Phoenix area. Again, they offer better placement of listings to agents who pay extra fees. To me this is not an option if you are looking for exposure.

Yahoo Real Estate: Another big consumer search portal.

Major Real Estate Brokerage Site: Agents often have their buyers use the company web site to search for homes. Make sure your agent's company site has ALL the local listings,

Homes.com, Trulia, Zillow and a number of other sites are popular as well.

Within the purview of internet marketing are pictures, ad copy, virtual tours, and SEO marketing. Once a person finds your home online, the language of the ad, the quality of the photos and virtual tour will make a huge difference.

* Professional Quality Photos are paramount. The number of photos also makes a huge difference.
* Ad copy is important. One must engage the reader, tell the story and move the reader to action. Poor writing skills and grammar can paint an ugly picture.
* A virtual tour is not an option. People want as much information as possible.
* Search engine optimization and keyword use can help an ad's interment placement and number of viewers.

Traditional marketing has become less important as the Internet has changed the industry. However, it should not be overlooked. The basics include:: A professional looking sign on property, Color fliers in a tube or box on the sign, open houses on a regular basis, easy access to the home by agents. I am no longer of fan of print advertising. The numbers are clear that they no longer have an appreciable effect on sales. There are a few exceptions... yet only a few.

A very important part of the traditional marketing program is access to the listing agent and home seller. Phones and emails have to be answered. Call some agents and see if they actually answer their phones and if not, do they call you back quickly. People want what they want now... not 6 hours later. Does the listing agent get emails sent to his/her phone and do they know how to respond quickly? Do they know how to send text messages? Prompt communication is a big key.

This covers the basics, certainly not everything as I am not much on giving up some of the really cool stuff in a public forum.

Best wishes to you,
Web Reference: http://www.urbanteamaz.com
0 votes Thank Flag Link Sat Sep 26, 2009
Roni,

In our opinion, in a depressed market the best marketing plan is a "comprehensive" one. This includes a complete understanding of what both the company and agent are doing to promote your home. Our recommendation is to always request a written account of your market ing program.

Consider the following:

print advertising
internet presence
corporate visibility
marketing techniques
advertising budget
open houses
methods of networking
how are foreign buyers attracted?
how do they attract buyers in general
seek a full time agent
use a full service agency
find an agent that has proven success in selling homes
0 votes Thank Flag Link Sat Sep 26, 2009
Roni,
Very simple.......

1. Price it right.
2. Make your home show clean and as new as possible.
3. Make it easily accessible to realtors.
4. Use a discount, full-service realtor who'll save your equity....if you have any. :-)

Scott
AZ's DISCOUNT Realtor
480-216-8668
30-years experience
Web Reference: http://www.cr-az.com
0 votes Thank Flag Link Fri Sep 25, 2009
Pricing
Staging
Listed with an agent
Entered in MLS
Multiple photos
Updated activity from listing agent
Marketing plan from agent

Feel free to contact me with any questions!

Lucinda Tkach
Windermere Central
lucindat@windermere.com
0 votes Thank Flag Link Fri Sep 25, 2009
I would like to add one more thing. About 85% of buyers use a buyer's agent to find their home. If you do not list your property on the MLS you might be excluding that many buyers, hence reducing your exposure and potential buyers drastically. Remember that the MLS is always the most powerful marketing tool.

Carlos J. Ramirez, PC, ABR, CNE
Associate Broker/Realtor, HomeSmart -
http://www.SmartAZRealty.com
0 votes Thank Flag Link Fri Sep 25, 2009
I also believe in huge internet marketing. Over 80% of buyers start their search online so it's really important to get as much exposure as possible. Our brokerage uses enhanced listings on realtor.com, which is the #1 website for home searches and we also leverage remax.com, which is the number one website for brokerages. With both of these attracting over 3 million people per month it gives us more leads to work with which means more showings. We also syndicate all of our listings to more than 30 other websites like trulia, google, etc. to get the most exposure possible.

The more people that see the listing, the more likely it is you'll find a qualified buyer.
0 votes Thank Flag Link Fri Sep 25, 2009
Hello Roni,

That is a very good question. Regardless of any marketing strategy, the key thing to selling your home in a depressed market is to have it priced competitively. I don't mean that you have to price your "move in ready" home to match the foreclosure down the street that's missing all fixtures and cabinets, but you have to be realistic about the selling price. This will be necessary in order to meet the appraisal. I have not heard of anyone paying over appraisal for a home in this market.

That being said...you need to make sure your home is in the MLS. Any Realtor that takes the listing will put your home into the MLS. As long as it's in the MLS all Realtors will have access to it. Not all websites access the entire MLS, but there isn't much you can do about this. I would also suggest that you make sure your Realtor lists it correctly and fully. This means that they take several pictures and put in room dimensions (which few agents do, unfortunately). The more information you can give a prospective buyer about your home, the more likely you are to get real buyers looking at it. You also need to make sure that you have more than just a basic sign in the front yard. People have become immune to just the basic company sign, they will assume it's a foreclosure.

What I do for all of my listings is to create their own website for the home based on the address and then put this information on the yard sign. The website will contain tons of information about the home and area and make it easy for a prospective buyer to get interested in the home. I also set up your home as a "Talking House". This isn't used by many agents anymore, but is a very handy tool. The Talking House is a little transmitter you put in your home and record information about the house on it. A sign goes in the front yard advising "drive by's" of the radio station where they can hear the information. This is a great tool for getting the attention of anyone that may be driving the neighborhood looking at homes. It will certainly make yours stand out.

Over 84% of people now begin their home search on the internet and over 90% will drive through neighborhoods that they are interested in before they actually start looking at homes. Personally, I don't think it is worth spending money on print advertising (other than fliers that need to always be stocked near the yard sign). I also don't feel that it is worth the money to do "featured listings" on the various websites. You are competing with way too many to make yours noticeable. The best tools are basic, free, and easy.

I hope I helped a little :)

Feel free to contact me if you have any questions or if there is anything I can help you with.

Susan Ellis
Mira Vista Properties

susan@PhxDreamHomes.com
602-388-0200
Web Reference: http://phxdreamhomes.com
0 votes Thank Flag Link Fri Sep 25, 2009
I believe in internet marketing, everywhere...more exposure the better. 80% of buyers are first sratingting their home search via the interent and "googling" ...you want to be found first if they are searching online.

This is what system I sponsor for my agents:

http://khufford.ephotoflip.com/

It starts with a single custom website for your property, virtual tours, extensive neighborhood info, sign riders with text feature for info, a mobile website, syndication and broadcasts to 100's of real estate and social networking sites, business card stickers to neighbors, website blasting, featured property widgets on websites and blogs, ect...
0 votes Thank Flag Link Fri Sep 25, 2009
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