Q. How does an experienced Realtor get substantially more buyers to find your listing amid all those for sale?
1. Target the marketing .....
to those venues through which buyers are initially finding the property they end up purchasing.
- 52% initially found their property online. So we obviously focus the majority of our advertising to the online real estate world by way of organic search engine optimization, pay per click for relevant local real estate search phrases, property specific website technology, and a top notch Breckenridge Associates website to capture buyers and help them start the process.
- 29% initially found their property with the help of a real estate agent. So we directly target our local agents through consistent email “blasts” about your property and “broker open houses” to introduce your home to the local brokerage community.
- 6% initially found their property by seeing a "For Sale" sign in the yard.
- 6% initially found their property through a friend, relative or neighbor.
*From the 2019 National Association of Realtors Annual Survey of Home Buyers.
We know with certainty that 4 out of 5 buyers are finding their properties online or with the help of a Realtor.
As a Seller, that’s a vitally significant statistic. And it has held true for the past decade. Now the question becomes:
What is the venue through which that information is getting to real estate websites and the brokerage community?
The answer: The local Multiple Listing System (MLS).
It’s comprised of 600+ local Realtors who have a collective agreement to share all of our property listings with one another and offer compensation to our fellow brokers for selling our listings. Most importantly, the MLS provides THE standardized online platform through which all brokers must input their properties for sale.
Once entered into the MLS, all listings become immediately available to the brokerage community in addition to being systematically uploaded to thousands of real estate websites.
Ultimately, the MLS is the very foundation of the real estate business.
And if you know how to build a great foundation, the rest of the sales process will consistently go much faster and more profitably.
Your success as a Seller is largely dependent upon how well your Realtor understands the true functionality and logic behind the MLS.
If you’re a Seller who wants more buyers, then work with a broker who knows exactly how to manipulate the MLS to capture more buyers!
2. Use a pricing strategy that captures more buyers.
Which price is found in both searches?
Rather than a price of $799,000 or $802,000, make it $800,000 even ..... and capture the buyers searching in two separate price ranges.
Even price points often result in twice the buyer traffic!
3. Maximize the buyers' minimums.
Maximize the Bedroom Count
Understand that many buyers use a 'minimum bedroom count' as part of their search criteria. As an example, if you have a three bedroom home with a 'loft' or 'home office' or 'den' that may not legally qualify as a bedroom, you can still use that room to increase your bedroom count so long as you disclose the issue.
Now you're capturing not only the minimum 3 bedroom buyers, but also the minimum 4 bedroom buyers! And you haven't spent a nickel on renovations.
Maximize the Square Footage
Just as with bedrooms, many buyers use 'minimum square footage' as part of their search criteria. Most sellers and many brokers do not realize you can use building plans, past appraisals, county tax data, or even the owner's personal measurement of the property. Use the source that shows the greatest value and capture more buyers! Far too many Realtors use the easiest available source, the county tax data, and that may not give you the small advantage you need to show up on more buyer's radar screens.