Real Estate Marketing 101
Facts About Real Estate Agent Marketing - What You Should Know!
Agents rarely sell their own listings!
Did you know that nearly 9 out of every 10 homes sold are sold through the Multiple Listing Service (MLS) and Cooperating Brokers; that an NAR (National Assoc. Of Realtors®) survey indicated that 85% of home buyers surveyed used an agent; that over 80% of all buyers used the Internet when searching for property; when asked where they first heard about the home they purchased only 5% identified a print or newspaper ad while a mere 1% indicated a home book or magazine.
Market Value is determined by Supply and Demand. Marketing time is a function of Supply, Demand and Price. What about the location or condition of the property? Yes, of course, there are dozens of factors that contribute to a property's value and marketability but the big variables are still Supply and Demand.
When Supply (available properties for sale) is low and Demand (number of available buyers) is high, properties sell quickly and prices (Market Values) increase.
When available listings (supply) are high and available qualified buyers (demand) is low, properties need to be competitively priced to sell in a reasonable time frame.
Today's buyers are sophisticated and today's Internet provides the tools to inform and educate them. In fact, an overwhelming number of buyers, over 80%, are using the Internet to search for homes and property. Informed buyers demand the free services of a Buyer's Agent when purchasing Real Estate. Those that don't are probably looking for a deal.
The law of Supply and Demand is indisputable. No one agent, company or marketing campaign will sell your property if it's not competitively priced in today's market. Priced right, it will sell with proper exposure in the marketplace.
The National Association of Realtors statistics suggest that nearly 9 out of 10 homes are sold through the MLS and cooperating brokers. A recent survey conducted by the NAR asked buyers where they first heard about the home the bought, 36% said real estate agents, 24% responded the internet, 15% indicated yard sign, 5% newspaper, 1% said home book/magazine, 8% said friend/relative, 8% said builder and 3% new the seller.
Real Estate Commsissions
Commissions are always negotiable and paying a 6 or 7% commission to list your property won't get it sold any faster. In fact, it will, more than likely, increase the marketing time. Why? You'll have to price it higher and you'll be compelled to hold out for that higher price to pay for those added commission expenses. In fact, you'll need to add 4 or 5% to your asking price to cover those expenses. That higher, non- competitive, price will increase your marketing time. Eventually, if you're serious about selling, your agent will convince you to reduce the price.
The Right Price.
When your property is priced right, your listing agent will receive an offer from a Cooperating MLS Member Broker, it will sell. When it's all said and done, you'll realize that a big chunk of your home equity (half of that 6% commission) went to your listing agent. He put up the sold sign but he didn't really sell the house. It was actually sold through the MLS and a Cooperating Broker. Finally it dawns on you, you just paid thousands of dollars, all of that equity, to list your property in the MLS and you could have gotten the exact same results for a less than $1000 with a Flat Fee MLS Listing.
Listing your property with United Brokers for a Fixed Flat Fee will give you the competitive edge needed to sell your property fast while increasing your bottom line.
Listing your property in the MLS will get it in front of member brokers, all area firms and local agents. It will be advertised on the majority of their web sites and 100's of real estate related sites and search engines.