When I first started in real estate, I was taught that the most important elements of selling a home were
After working in the industry for many years now, I disagree. In my experience, PROMOTION is equally important when selling a home.
All 3 elements are important:
These 3 P's: Price, Preparation, and Promotion are the foundation of Real Estate sales. In this blog post I'm going to talk about how I leverage promotional strategies to get you more money.
Its ALL ABOUT THE PROMOTION!
The listing price of your home and the preparation are in your control. Your listing agents is in charge of the promotion. It's their #1 job! Let's dive deep and see how I use promotional strategies to sell my client's homes.
In my experience, video is the most powerful marketing tool for selling real estate. In fact, video is the fastest growing form of marketing across almost every industry. It's also the most complicated, which is why many real estate companies do not offer it yet. Making an effective property video that people will actually watch all the way through requires years of marketing experience.
The most common mistake people make with videos is that they make them too long and boring. The majority of consumers have an extremely short attention span when cruising the web. Listing videos need to be around 60 seconds, move very fast, and have interesting visual content. It's much easier said than done!
I use videos as quick advertisements to get people's attention and to direct them to the 3D Tour; which we'll talk about in the next section. People will spend much more time looking at a home in a 3D Tour than they will in a video. A good video combined with a 3D Tour has a very high impact on a home buyers emotions when they're shopping online.
Here's an example of one of our videos.
For this blog, I chose to use an average home listing to make the point that this type of marketing is not reserved for higher-end luxury homes only. We offer these videos in ANY price range of home. To see more of our listing videos, simply visit our YouTube channel.
Many of my fellow colleagues have a real disdain for Zillow. The reasons why would take a whole new blog post. Love them or hate them Zillow is the #1 search portal in the nation. So, for each and every one of my listings l have my videographer upload the professional listing video to zillow. Its shocking that most realtors do not do this simple step to maximum exposure for their seller clients! For an example please click here. Please see screen shot below on how the video looks on the zillow listing property details page:
Today there are several companies who offer incredible quality 3D tours, with the same technology used in the property photos. Here's an example of the 3D Tour
This 3D Tour also creates a PDF Floorplan that buyers can view and/or download from any device. This is great for the Seller because it cuts down on unnecessary showings from buyers who are not interested in the home's layout/size.
You can CLICK HERE to view and download a Printable PDF Floorplan of this property.
The system we use to create these 3D Tours is through Realvision. The learning curve of this technology is very high. Significantly higher than on the popular Matterport cameras, but the quality is MUCH better!
These 3D Tours allow buyers to completely tour the home through the convenience of their mobile device or computer. It's a game changer for the home seller because the tour looks amazing, and keeps enticing the buyer to fall in love with their home. Our 3D Tour gives the Buyer full control of the pace and content of the home tour, providing a great user experience which results in exponentially more time spent looking at your home.
For the Buyer who lives out of town, often forced to purchase a home without ever walking through it, this technology is invaluable. How much more appealing would your home be if a Buyer in another state could confidently know what it's like to walk through every space in your home and yard? This technology makes your home much less of a risk for that Buyer than other listings that simply have photos.
The service isn't necessarily cheap, but your Realtors job is to provide you with the best marketing, and utilizing this tool will certainly result in a higher sales price. It's definitely worth it (and I should clarify - I don't get any compensation for promoting it). These 3D tours mixed with our videos are impossible for home buyers to ignore, especially when most competing listings do not have this level of marketing.
SOCIAL MEDIA MARKETING
Social media is a powerful way to get the word out about your home being listed online. It can get your listing immediate attention from THOUSANDS of local potential home buyers. Currently, 79% of American adults use Facebook. Instagram is in second place at 32%. These are excellent resources to display all that wonderful marketing that your REALTOR® has done for your home.
We currently spend between $200 to $2,500 on Social Media Marketing for each of our listings. If a property is not selling and needs more attention, we spend more to get it sold. We had over 16k views on this listing from all the social media sharing and advertising The reach is incredible. Please see screen shot of the facebook advertising:
Here's a screen shot of the # of views:
When I list a home, I take the video and create a 60-second (or less) condensed version and post it in Instagram. Here's a listing video in Instagram social media format:
Social media is a technology that is constantly evolving and will always be used for marketing. Currently, very few agents pay to market their listings on Facebook, but this will likely change over time.
Once your listing is in a Social Media Ad campaign, it will stand alone in a consumers news feed. It starts playing automatically and captures local viewer’s attention immediately. Social Media Ads are the best way to get your listing in front of your local community within minutes.
This one should really be common sense at this point, but it still needs to be brought up. Professional photos will always be an important form of real estate marketing because they are the consumers first visual point of contact with your listing. First impressions are everything in marketing. If the photos are bad, home buyers will never pay attention to the other forms of marketing used to list your home. You can't expect your Realtor to also be a professional home photographer, but you should expect them to hire one. Please take a look at one of my latest sold listings: We were able to get our seller multiple offers and sold price above list for this logan square true timber and brick loft.
One Caveat I Must Mention | Importance of Staging
This should go without saying, but all the creative marketing in the world will not help your property if it isn’t ready to be listed. I can not stress enough the importance of staging. Matter of fact, I did a seller video specifically on the subject of staging. Please take a moment and watch the video!
How to Choose the Best Agent for Your Listing
With all this information about marketing technology, why would you choose to use an agent simply because you’re related to them, or they are connected to you socially? Would you choose a surgeon that way? In my experience, that is the worst way to choose an agent. Unbelievably, according to the National Association of REALTORS® (NAR), this is still the most common way that people find and hire their REALTOR®. If you hire a Realtor that doesn't use the best Marketing tools, you are essentially throwing away thousands of dollars, in addition to the Commission you are paying them.
Instead of using the first Realtor you know to list your house, you should check out their marketing materials. Ask to view the last few listings they sold. Compare their work with other agents. If it doesn’t compare, then don’t hire them! Hiring an agent who does not utilize technology to list your house is like going to a car dealership and paying 2018 prices for a 2010 model car. It just doesn’t make sense. You are hiring the listing agent to market your home online. Period.
Ready to list or have specific questions? I love explaining the listing process! Contact me at AD@anantdeoraschicagore.com, 312.884.9793, or you can use the contact form on my website.