Digital Marketing

Real Estate Marketing Strategies: How Does It Change With The Changing Times?

Most of us have lived through a variety of real estate markets, from a buyer to a sellers market, to what many consider a normal and balanced market. Sometimes this occurs over an extended period of time, and often we witness changes occur without much notice. For example, in the last year or two, we’ve been through a strong seller’s market, where there were more qualified potential buyers than there were homes for sale on the market. After more than a year of steady increases in home prices, combined with little available inventory, we are seeing some cooling and a more balanced situation. Many factors are involved, including: perceptions (buyer and seller); local area; general economy, local economy; interest rates and availability of mortgage funds, etc. With that in mind, this article will attempt to briefly consider, examine, review, and discuss some recommended marketing strategies for a variety of circumstances and conditions.

one. sellers Market: When the inventory of homes for sale is extremely limited and conditions are such that many qualified buyers are looking for a home, there are two possible strategies that may be most effective. One, which we see most frequently, is to price the home in the higher range, believing that the number of buyers will bring a higher price. Another possibility, especially for a homeowner, who wishes to market/sell their home, in the shortest period possible, is to price the home at the lower end of the real estate market. When this strategy is used, it often brings in much more views and values, and we often witness a bidding war. I did this with a client of mine, during this recent market, and I received 22 above-ask offers in the first weekend, and the house sold, for more than fifteen percent, above the listing price. Sellers should interview potential agents and discuss marketing strategies and which one might work best for a specific property!

2. Buyers Market: When there is more inventory than qualified buyers, we often witness a buyer’s market. Obviously, in these circumstances, the best approach is to conservatively use competitive market analysis to determine the listing price. Remember, in the vast majority of cases, the best deals come in the first few weeks after it’s been listed, so those who price the home too aggressively often suffer. Price the house, well, right from the start!

3. Balanced Market: When neither side experiences a significant advantage over the other, we see a balanced market. In these cases, smart pricing and accentuating a property’s strengths against competition in the local area is a must for success.

A smart homeowner interviews potential agents and hires the one with the vision and understanding to use a strategy that works best for the particular property. Since, for most, your home represents your single biggest financial asset, doesn’t that make sense?

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