Best Real Estate Marketing Strategies for Home Sellers in 2021
When it comes to selling a home, marketing is the name of the game. It cannot be overstated how critical it is to generate as much interest as possible on the listing to present them to potential buyers. Marketing strategies that worked 3 years ago may not be the winning formula today, let alone COVID has disrupted the entire real estate industry. Smart agents have adapted to the latest marketing trends — what does 2021 have in store for home sellers? Let’s take a look!
Marketing strategies that worked 3 years ago may not be the winning formula today.
Good listing agents tend to spend about 10%-30% of their commission towards generating interests for a seller’s property on the market. But a high dollar amounts does not necessarily mean results.
Here is something home sellers need to understand: at any given time, there is a pool of buyers on the market who are capable and ready, looking for a home that checks all their criteria such as yours. If you own a popular property such as a 3 bed 2 bath home with a yard in a suburban town, that pool of capable buyers may be 30 people. If you own a unique home such as a horse ranch with a race track and a shooting range on 20 acres, your pool of buyers may be only 3 people. The job of a listing agent is to find that pool of buyers and capture their interest.
At any given time, there is a pool of buyers on the market who are capable and ready, looking for a home that checks all their criteria such as yours.
Let’s peel back the layers of real estate marketing. A poor agent will print flyers and a stick a yard sign on the front lawn. That may have worked 20 years ago, but in the internet era, that’s no longer the case. It’s a no brainer to say buyers are now shopping for homes online. So, an average agent will advertise your listing on Zillow, Trulia, Realtor.com, all the biggest real estate sites that dominates the market because they are so good at search engine optimization and reaching listings to the buyers.
A good agent takes advantage of 2020 and 2021, the years of staying at home. Buyers want to visit the listings, but they can’t, or prefer not to visit in person due to restrictions. An immersive virtual tour is quintessential for buyers to experience a listing in 2021. Good agents understand that buyers are held captive in front of a computer, but they desire to conceptualize listings beyond just photos. I mean, it makes sense, how are photos alone able to illustrate the layout of the home, or let buyers experience the neighborhood? Matterports, 3D real estate tours, and drone videos are the cutting-edge technologies that reach buyers like never before. According to Zillow, about a third of buyers say that virtual tours are extremely important and made a difference in their decision making.
About a third of buyers say that virtual tours are extremely important.
However, here’s what separates the good and the great agents — intimately understanding the demand of the listing. This part requires data analyze and takes seasoning in the industry. A great agent must understand the demographic trends of the market the home is selling in: who are in the market, what are their demands, where are they from? Are you selling a suburban home where city folks are relocating to for bigger space? Are you selling a vintage home that makes a collector drool? Are you selling a luxury property that needs to reach buyers on the other coast?
A great agent must understand the demographic trends of the market the home is selling in.
An average agent reaches 15 buyers, a good agent reaches 25 buyers, a great agent reaches 27 buyers — and just by reaching that extra 2 people, it may have made the difference between selling your home at an average price VS selling your home at a great price.
About the Author
Danny Lau has set up several successful small businesses, he is a top real estate sales professional, and he shares real estate investment advice through his YouTube Channel.
Disclaimer
This article is intended for informational purposes only and should not be considered financial advice. You should consult a financial professional before making any major financial decisions.
