It’s a tough market for sellers right now. There are three elements to successfully selling in this (or any other market that you’re likely to see in the next several years). They are Price, Condition, and Marketing. This is part three.

Rule #3–Successful Marketing

Effective marketing of your house will deliver qualified buyers to your front door, but only if the price and/or conditions are right. No intelligent buyer will spend more for a property if there are other substantially equivalent properties for less money (unless Elvis lived there once!). And if you’re counting on the less-intelligent buyers, there are lender’s appraisers who protect them by killing any deal that doesn’t hold up to a current market value appraisal.

The goal of marketing is to expose your house to the largest number of possible and probable buyers as efficiently and enticingly as possible. A skilled Realtor® will employ some or all of the following:

• Multiple Listing Services (MLS)
• Other Internet Websites
• Newspapers
• Flyers
• Lawn signs
• Property Tours
• Open Houses (if appropriate)
• Professional networking
• Skywriting, Hot Air Balloons, Commercial Television, etc., etc.

It is possible to do-it-yourself and market your own home, but few non-professionals can reach the numbers of potential buyers that a skilled Realtor® can reach. In a buyer’s market, sellers need every marketing advantage to get their house in the face of as many buyer’s as possible. Additionally, a Realtor® can screen buyers before they wander through your house. This can translate into increased security for you, and it doesn’t waste your time or effort on looky-loos who aren’t qualified to buy a home in your price range.

How to Judge Marketing Effectiveness-a Rule of Thumb

If few or no buyers visit your house during the marketing period, it is most likely over-priced. If many buyers tour your house but make no offers, it is most likely the condition of the house. Fix the condition or lower the price to neutralize the deterrent value of the negative condition.

In Conclusion . . .

Focus your attention on setting a fair market price, and upgrading the condition of your house. Work with your Realtor® in creating an effective marketing campaign. Make adjustments if necessary. Visit other homes in your price range to better understand your competition-and make yours a better deal. Don’t give up, and your house will sell!