Basic Skills to Attract Buyers
As we are sure you realize, selling your home without an agent has several advantages and several disadvantages. Clearly, saving up to the typical 6% broker's commission is an advantage, but one significant disadvantage is that a homeowner gives up the marketing support to attract buyers that is traditionally provided by a REALTOR®, broker, or real estate agent.
We believe that you can market your own home even more effectively than a real estate agent. In this part of the Home Selling System you will gain the knowledge and develop the skills to do so.
Once you're ready to show your home and have set your price, you're ready to develop your marketing materials.The process of attracting potential buyers to any product is called “marketing.” It is also true that the sale of a product often results from “word-of-mouth,” or when one person who heard about a product as a result of marketing efforts tells another person about the product and that person winds up being the buyer. For instance, you may never have seen the TV commercial for a particular product, but if someone whom you know and trust has seen it and suggests that you buy the product, you are very likely to buy it. For this reason, it is important to market your house to as many buyers as possible.
Another principle of marketing is that different people have different routines and receive information in different ways. Many read a daily newspaper; others view community bulletin boards; others watch television; still others talk to friends at church. Many people are on the internet every day, but those that use the internet and search online don't search the same websites. Few people receive all their information in the same way. For this reason, marketing your home should encompass a variety of advertising or marketing methods such as classified ads in local and regional newspapers, flyers, online venues, public relations, and even something as simple as the use of a lawn sign.
The last principle of marketing is that it can take time to attract buyers. Few products sell immediately. Attracting buyers can't be a one-shot effort. It is normal to “test the market” and then gather feedback from those people who both liked and disliked the product to determine what it will ultimately take to sell the product. If you properly prep and price your home and make it 'Ready To SELL', you may be the lucky one that sells to the first buyer visiting your home. But it is more likely that it will take some time to sell, so be prepared to market your home over a period of several weeks to several months.