The field of advertising encompasses a number of important focus
areas. A great advertiser remembers to nitpick until he/she has found
the right target market. They have to know the age and income bracket of
their perfect potential buyers. A good advertiser can do all these
things, and if you pick a motivated seller, they can do just the same.
You have a product you want to sell, your house. That is the easy part.
Trying to find the right market can be the hard one. It is not as hard
as you think. You just need to understand how to market the product and
who to market it to. All of this is assuming you are already running an
advertisement in the local paper and have put up a sign.
Take a good look at your home. Why did you buy it? Was it because of the
number of bedrooms? Maybe it was the location. It could have been
because of the yard. There are so many reasons people buy homes. You
need to remember why you purchased yours. This is what will tell you
about your market. For example, maybe you bought the home because it
offered four bedrooms and was close to the school you wanted your
children to attend. You have one potential market already. The large
family. Now you need to be able to reach them.
Every school has a parent teacher organization. You could have an open
house for the PTO members of your school. By giving out invitations to
this group, you are reaching people who are already interested in the
neighborhood. You know this because of their involvement in the school.
Asking them to bring a guest will generate more interest. How many times
have you talked with someone who said they would like to live in the
school district in which you live. Now is the time to give that chance
to them. The PTO members may know someone just like that. By holding an
open house for just the PTO members you can let them introduce someone
into the neighborhood by showing them your home.
You can do this with every group and organization you are affiliated
with or know about in the community. This is just one way you can
advertise your home and be a motivated seller. There are many other
ways.
Determine what income bracket your home would appeal to. Locate
organizations and clubs catering to these people. Put up flyers where
these people may be frequent. If you know certain individuals who may be
interested or know someone else who may be, then invite them to a
private showing. This always makes people feel special. They are more
receptive to what you have to offer. People do not like competition.
Although many times it makes them perform better, hence a higher offer,
you may still end up with a bad deal in the end. Let each potential
buyer think they are making all the decisions. Coax them into a deal
instead of trying to bully them into it. You will have a better
response.
Being a motivated seller does not mean being desperate. It means you are
trying to market your product to the consumer. Real estate has become a
business just like any other. You need to make good decisions, be
marketing savvy, and be a motivated seller. This will bring the profits
just like in the corporate world.
Return to Brokerforyou's real estate articles