If you need more exposure for your home that you wish to sell, it shouldn't cause you so much stress. There are several strategies you can do to increase your property's exposure, and thus, you can increase the feasibility of a successful sale. Using the tips below, you'll gain some insight on how to do this more efficiently and how to find the right agent who can help you.
1Work On Your Home's Publicity
To gain exposure when marketing anything from things to events and personalities, such as a restaurant opening or a candidate going for public office, you must work on publicity. It's not smart to just leave everything to chance because you could end up waiting for nothing. As with anything, selling a house is no different - the key is to gain more exposure. In this case, in what ways can you reach your target market or the individuals who could be your potential buyers? Well, there are many ways to increase a property's publicity so that it will sell quickly.
2Get An Agent To Promote Your Home
Actors have agents, and other celebrities and personalities have publicists. As for you, you also need an agent if you want to publicize your house for sale. You'll need the services of a broker or a real estate agent.
In general, however, people don't expect a lot from their agents. They think that they only need their agents to put up a "For Sale" sign on the yard, and this will easily draw in would-be buyers. Although this strategy is fairly effective when the market is doing well, it's not likely to work on a down market, which is why it's crucial to get an agent who understands the best and most efficient ways to increase your property's exposure.
3Understand Agent Dilemmas
Real estate agents in America get commissions, which generally range from five to seven percent of the total value of a property. This means that an agent could earn thousands of dollars if he sells one property; if he doesn't, he usually does not get paid at all. You probably think that the possibility of earning thousands serves as an incentive to an agent to market your home, but this is not often the case.
Most agents, especially during a time when the market is down, prefer to avoid incurring more expenses. This means that they will only spend the bare minimum in marketing certain properties. This is but natural, as agents also need their money for other expenditures, like office rental, phone, car, and even advertising their services, which means that marketing your property is not their main priority.
4Learn About Broker Advertising
Real estate agents need to advertise from time to time. But, it's important to keep a realistic picture and understand that your property won't be the main focus of your agent, although it will be on your agent's ad. A real estate agent's job is not about selling only one property; instead, he will likely push a property which he believes will sell faster or attract more buyers or sell a house that draws more interest.
5Know Your Agent's Commitment To The Task
When hiring an agent, the two main issues that you need to be aware of are: he might not have the extra cash to push for that additional exposure for your property, or he might have the cash buy but just prefers to do the bare minimum in gaining exposure for your house. The first reason is usually affected by the real estate market's climate. When the market is down, fewer sales are made, an agent may have fewer houses for sale, but the MLS or Multiple Listing Service will have thousands of listings, which means that competition is fierce.
Often, agents also share commissions with other brokers when they sell certain properties, which is definitely more attractive than making zero dollars. Although your agent may exert some effort in selling your property, he may push something else or even drop your property once he finds another house that is more attractive to potential buyers. Moreover, to have access to the MLS, agents need to pay thousands of dollars for that, which means that your agent may refuse to spend thousands on advertising just one property, especially if there's a huge possibility that it won't sell for a while.
6Work Out A Way To Encourage Your Agent
It's seldom that you'll find an agent who's willing to spend thousands of dollars on advertising just one house, which is why you may have to shoulder ad expenses yourself to get additional exposure. Inform your agent that you want $1,000 worth of extra promotion and that you need to have your property listed for at least three months, but give him a good deal - you'll shoulder ad costs, and your agent won't owe you money in case your property does not sell. However, in case your house sells, tell him that he will only receive a low commission, which is about $500. Through this, you're splitting the cost of the added promotion with your agent, plus you're also giving him that extra nudge so that he’ll exert more effort to increase your exposure.