When marketing just about anything, it can sometimes be hard to tell if it is working. When it comes to trying to sell your property, there are a few ways to gauge the results. Is the Marketing of Your Property Working?
If you are determined to sell your property, marketing is going to be the key. There are many ways to get the word out about your property. The best methods are generally agreed upon, to wit, get an online listing, get listed in the local multiple listing service, place for sale signs around the neighborhood and tell just about anyone you know. While these tactics may be accepted strategies, how do you know if they are working? There are a couple of ways to figure it out.
Oddly, the first way to figure out whether you marketing is working is to use common sense. In this case, how many people are coming to look at the property? Even in a slow seller market, potential buyers will come. Do a head count. You should be getting at least a few a week.
A blunt way to determine the effectiveness of your marketing is to pay attention to those realtors. When your property goes on the market, you should be inundated by real estate agents within a few days and you should be very nice to them. The agents are viewing your home to determine if it matches the criteria of any of their clients that are looking to buy. Basically, the agents are lining up to bring prospects to you. Depending on your area of the country, you should expect to receive five to 50 agents. If only a trickle show up, you have a problem.
A more subtle method for evaluating your marketing has to do with confusion. Simply put, you need to listen closely to what potential buyers or agents say when viewing your property. Do they make an mention of something they assumed from your marketing that is not correct? If so, you have a problem and need to address it immediately. This problem arises more than you might think because most real estate advertising is confined to a relatively small amount of space.
At the end of the day, your chances of obtaining a quality offer are only as good as your marketing material. Stay on top of your marketing and refine it till you get a good response from agents and potential buyers.
By John Benson