The Internet is changing a lot about the real estate industry. There are options out there for sellers in listing their homes. However, discount and flat fee brokerages are, by necessity, providing reduced services for reduced cost. That’s OK if you know what you’re not getting. Let’s look at idaho real estate industry and the typical services list.
Preparing your home for the process: We live in our homes, and probably have for a long time. We may not have the most objective viewpoint when it comes to evaluation of our home’s positive and negative features. A full service real estate brokerage will:
1. Advise you in what to improve and repair before listing your home.
2. Possibly recommend excellent home stagers to come in and do a professional staging for your home’s best exposure in the market.
3. Help with reliable repair and remodel contractors if needed.
4. Walk you through comparison of your home with the competition listed currently.
5. Do a detailed two-part Comparative Market Analysis (CMA) to help you come up with the appropriate listing price for your home.
Let’s look at that last item in detail. The importance of properly pricing your home from the very first cannot be over emphasized. Too high a listing price, and your home isn’t shown as much as it could be. It also languishes on the market, accumulating those dreaded “days on market” that result in lowball offers. Too low a price, and we definitely get it sold. However, leaving thousands, or tens of thousands, of dollars on the table will take away resources to put into your next home. The market knowledge accumulated from listing and selling homes in your area is invaluable at this stage of the process. The experienced real estate professional will help you to invest only what is necessary for the most competitive presentation, while pricing your home for sale in a reasonable period of time.
Once priced, let’s go to market: We’ve worked with our experienced agent, gotten our home ready for market, and we’ve come up with the right listing price to get it sold to our best advantage. Now it’s time to develop the all-important marketing piece. This is so critical, and it’s where a highly professional full service brokerage can bring great value to your home sale process. The resources that have been cultivated are simply not affordable or available for the individual home seller. A top-notch full service brokerage will:
1. Take and enhance professional quality images of your home in formats for both print and Web marketing.
2. Use their volume advertising discounting advantage to provide extensive exposure for your home at prices not accessible to the individual advertiser.
3. Place your home ads in one or more homes magazines, newspapers, and specialty publications known for their results.
4. Syndicate your home’s listing in multiple web sites with millions of visitors each month.
5. Strategically place yard and neighborhood signs to direct prospect traffic to your home.
6. Place your home in the Multiple Listing Service.
Let’s take that last item and look at it in detail, due to the importance of the MLS. The vast majority of all homes sold are marketed successfully through a Multiple Listing Service. This cooperative marketing system was set up by real estate professionals to allow them to share property listing information efficiently. There are logical reasons for the long term success of this marketing powerhouse:
1. Standardized data entry gets accurate information about your home into thousands of agent’s hands.
2. Successful agents network with each other to get your home top-of-mind with other successful agents.
3. Feedback from others who show your home is fed through the system to help improve your marketing.
The speed of dissemination of the full detail of your home’s features and data is a hallmark of the MLS marketing system. This method of selling real estate has been so successful simply because it is highly efficient, and the members of the MLS have interests totally aligned with the goal of getting your home sold. Nobody makes a commission until the successful closing of your home sale.
Marketing a home is an art and a science: The MLS is very important, but exposing your home to as many potential buyers as possible is also very important. According to a survey of actual home buyers by the National Association of Realtors®, more than 80% of buyers use the Internet in their search for a home. It’s a competitive game, and you need some horsepower on your side.
Your full service real estate brokerage has spent considerable time and resources in developing an Internet presence for the purpose of showcasing their home listings. On top of that, your home’s listing is syndicated outside the brokerage’s sites. Besides Realtor.com®, with it’s 6+ million visitors per month, your full service broker syndicates your listing to other national and worldwide sites as well.
There is a great deal of research and expertise involved in developing a web presence, gaining search engine exposure, and presenting a home’s features in a medium quite different from the print media. Take advantage of your full service brokerage, and their education and experience in marketing homes on the Internet.
Now it’s just a matter of negotiating your deal: After putting all of this marketing expertise into play, it’s just a matter of time before that offer comes in. Now your full service brokerage really earns their fee. Your negotiation and transaction are under the constant care of professionals, All documents, delivery dates, inspections and safeguards are monitored and coordinated by your broker.
Hire a full service brokerage, watch them do their marketing magic, and then lean on them through negotiations and thetransaction process. Their only goal is the satisfactory sale of your home. To reach that goal, they will help you to get it ready, price it correctly, market it effectively, negotiate a great price, and move through a smooth closing process. When examining your options, be sure about what you’re getting, and even more sure about what you’re not getting for real estate services.