Selling Strategies for a Soft Market #6

Internet Marekting

Things are already starting to heat up in the Traverse City real estate market. The savviest real estate investors are taking advantage of the fact that this is a fantastic time to buy property ó something that regular Ask the Realtors readers already know. First-time home buyers, retirement home buyers, and professionals relocating to the area are enjoying great success.

So what are they buying? And, more importantly to our discussions, how are they finding those properties they are buying? How in the world did those Sellers sell their homes?

Key #6 ñ Internet Marketing

Utilizing the power of the Internet to market and sell properties is no longer the wave of the future. It makes up a huge portion of the effective marketing of properties in virtually every corner of America today, including right here in the Grand Traverse area.

Every real estate agent is going to put a yard sign in the ground when they list your home. Every one of them is going to list your property on the MLS (Multiple Listing Service). They are all going to attempt some combination of Open Houses, printed advertising, and professional networking to spread the word about your house being for sale. The more desperate ones will even ensure success with ridiculously high asking prices and/or cut-rate commission structures in attempts to find selling success in our challenging market. (Stop back next week when we analyze Key #7 - Power Pricing in great detail at Ask the Realtors!)

All of these methods pale in comparison to the breadth of exposure that savvy Michigan real estate agents gain through on-line marketing, and the selling success they achieve because of it. Combined with the fact that virtually all legitimate real estate buyers start their search for properties on-line, web-based marketing should be a ìno-brainer.î Most sellers and sellerís agents do not spend the time, effort, and resources to ensure property, brand, and agent exposure like they should, and their clientsí properties remain largely unsold as a result.

It is a key component to your selling success in our ìsoftî market that you utilize a Traverse City real estate brokerage and agents who specialize in technology and Internet marketing. Plenty of agents have a Web site, but very few actually utilize them as an integral part of their business and marketing.

Donít just take their word for it, ask to see how many page views their site or sites had in the last month or three. How extensive is their on-line presence? What other links or connections do they utilize on-line, and what is the result? The latest and oftentimes most effective marketing technologies are ever-changing. Your agents and brokerage should be keeping abreast of these changes and adjusting their efforts and expenditures accordingly.

Remember, weíre talking ìtechnologyî here; they should be able to produce statistics. Take a moment to review them to ensure that you are utilizing the best, most technologically savvy real estate agents and brokerage you can. You only pay a commission if your property successfully sells, but you want it to sell, right?!

Donít hesitate to leave your question as a comment below, or e-mail or directly, and we can answer your question in private.

We hope you are all enjoying our Winter Wonderland!

All the Best,

Last Updated: January 28, 2008