seller asks: What will YOU do differently to sell my home?

As far as I know, homes that are listed on the MLS sell not because they have been marketed off line, but because of the PRICE.

Several other factors come into play, such as competition, etc... but the bottom line is the price.

But if the seller insists that their home be advertised in a newspaper or via other methods off line methods that cost money, do you get a deposit from them, refundable after closing? Or do you just eat the cost?

What is your plan?

I advertise all my listings in "the real estate book" that comes out every month. It costs $250 a month for 1/2 page. I wouldn't dream of asking the seller to pay for it - it's a part of doing business. Maybe there is another agent in your company that would split the ad with you?

Your commission is your budget for advertising and other forms of marketing. What is left is your profit.

To be successful in this business, you better be prepared to dontate a large part of your commission to making your sellers happy. And happy means making them visible, online and in print.

What actually sells the home (price) is quite irrelevant. What the seller expects in terms of visibility is all that matters.

And of course, everytime and everywhere you advertise your listings, you are advertising yourself. Which will generate additional business and more profits.

navarac's last paragraph is the best one to remember. It hurts like HECK to write those checks to advertise a place... but much less when you realise it's an ad for you.

-jeff

"what will you do differently?'

First of all I won't answer that question, my answer would be what do you have in mind when you say differently? Let the seller tell me his dream marketing plan.

Many years ago I would advertise that I do 14 things most agents don't do to get your house sold. I had started a small new branch office in an area that was controlled by two large offices in the area.

Anyway I had a "listing appointment" for a very nice property, and during the presentation, the wife asked if we could go over the 14 things I do that most agents don't do. Up to this point she had been taking copious notes and I didn't think to much about it because on a rare occasion I would run into one of these types. I covered the first seven but really had to use the bathroom which I did, and as I returned I noticed the wife turned something on and then sit down at the table, I made it a point to go by the place she was standing and there was a tape recorder!

I asked what was going on and the husband said he didn't want to do it but his wife's brother was the broker at one of the two big offices and wanted to hear my presentation and find out what 14 things I did that other agents didn't. I used this incident in my advertising for that branch for the next two years, it turned out to be a gold mine for business.

Anyway those first 7 became commonplace, but the next 7 became trade secrets and I refused to reveal them to anyone, the sellers were told they were trade secrets and they would have a better chance of finding out the 11 herbs and spices from KFC or the formula for coke, and most owners completely understood, if not I told them the "listing presentation" story.

I would be glad to address their concerns and ideas on the subject but there is no way in the world would I reveal any of the 7 secrets. And who knows, maybe the seller is just a future fsbo looking for ideas and market value, or a "secret" agent.

Brian,

Did you get/take the "recorded" listing?

Good for you Bay Area! Anyone listen to Clark Howard? I used to like him, but he has become so critical of Realtors lately.

Clark has made alot of money in Real Estate and giving financial advice but this is what he now tells his listeners to do when selling:

Interview two or three agents and pick their brains as to how they will market your property. Take notes, thank them, use their data and info, and save money. Sell it yourself. If and only if you run into trouble, then call in the so called expert. The NAR has such a monopoly on the RE field you are beholden to use a "Realtor", but you don't have to. Realtors are so hungry now, they beg for your business, and will give you whatever...............

What I listened to was rebroadcasted from a previous date. I don't get the live version. but they are only a day or two behind. The guy does have a huge following though, his show is sindicated and he appears on alot of TV shows as well.

I'm less eager for listings than I am eager to find one of those buyers I've heard so much about.

hehe, what kind of buyer is this. I have three lookie loo's.

I have a lookie as well, but it came from a referral from a past client. Just when I was ready to write them off, the looker sent me a referral that is panning out faster than expected. I guess one day they may buy, but in the mean time I'm looking for another referral from them.

In most cases, your presentation, or speech in general, can be legally recorded covertly, without your knowledge or permission. Of course, there are specific exceptions.

To get back to the OP's questions... "What will you do differently?" and "Do you eat the cost of ineffective advertising?"... here are my few cents.

As a listing agent, there are a lot of things you can do to encourage a faster sale, at the highest price with the least amount of hassle. But advertising ain't on the list, or at least not very high on the list.

What you can do differently from the majority of agents is:
1. Ensure that your seller understands the importance of making his home easily available to show, on relatively short notice.

2. Ensure that your seller understands the importance of being GONE during showings

3. Ensure that your seller understands how important it is to keep the house in showing condition - smelling good, looking good, feeling good.

4. Persuade your seller to make any needed repairs before marketing.

5. Convince your seller to have his home staged, not just for showings, but also for your MLS and online photos. Homes that photograph well attract much more interest from both agents and buyers.

6. Be frank with your seller about the consequences of ignoring items 1-5; if he will not cooperate, you must price the home accordingly.

7. Be known in your market as a good agent to work with. No, not a pushover, but an agent who is professional, easy to reach, knowledgeable and pleasant to do business with.

8. Ensure that the brochure box is always full. If you don't wanna do it, don't put up a box.

And of course, price the home right. AT market or slightly under. If there is a lot of inventory in your area, your home must be among the five or so BEST deals out there. YOu can't just be in the middle of the pack.

Regarding paying for advertising... I told my sellers that the only advertising I used was what I found to be effective. That most Realtor advertising is designed to promote the agent, not the home. However, if they wanted to advertise in print, I'd be happy to design the ad and coordinate placement, but I'd ask them to pay for it. No one ever took me up on it or complained. It helped that my fees were lower than average, so I could easily justify my reluctance to spend money unwisely.

So, Brian...what ARE the 14 things you do differently? Or even the first seven?

Just to add to #8 on Jens list above... DON'T use an MLS printout as your brochure!!!

This mistake is something that I like to share with sellers at every presentation. I have a stack of sad, cheap looking brochures from other agents that I've collected. I show them to sellers* and then I show them mine: full color photos on one side, property info on the other along with web address specifically for their property. It's no contest which one they feel is more professional.

I also like to make up a mock brochure for the sellers home that I'm giving my presentation to. They really like to see their own home presented well & it only takes a few minutes to create one. Just drive by prior to the appointment and snap a few photos. I put points to remember when getting your home ready to sell on the reverse side along with my contact info. Maybe it's a psychological thing, but they really seem to like looking at their own home in print. It seems to associate my company with their home in their minds as I put in a statement like "this beautiful home, professionally marketed by Gulf Winds".

In their minds "our home is beautiful" & "professional" are associated with my company.





* (I remove identifying agent info with an exacto knife as to protect the identity of the weak and lazy.)

Yes!! I hate the MLS printouts!! I created a really nice brochure for one of my listings and my company's owner wanted me to make some for his upcoming open house. The broker said to him "Why don't you just print out MLS sheets? It takes two minutes and they have all the info already on them."

Ahh - but we want them to LOOK NICE.

I use OpenOffice Draw ((similar to Microsoft Publisher) to create awesome brochures. Sure it takes a little bit of time and more thought than just zipping it off the MLS - but that's what Im getting paid to do!