Developing Your Marketing Plan

SIGNS

Some buyers find a home simply by riding around in the neighborhood where they would like to live.  Many homes are sold as a result of signage alone and its value should not be underestimated.

ADVERTISING

FOR SALE BY OWNER PUBLICATIONS
Many cities around the country have for sale by owner magazines and publications where individuals buy space in the publication to advertise a property.  Information about these publications can be found on this web site and you should definitely consider using their services.  This is very targeted marketing.  The publications are broadly distributed in high-traffic locations such as local grocery, department and discount stores, as well as banks, restaurants, etc.  Ads in the publication usually have pictures and allow ample space for a description of the property.  The cost for advertising in these publications is usually substantially less than advertising in the local newspaper for the same period of time.  Many of these companies offer other services from professional signs, fact sheets, blank sales contracts, Internet listings, appraisal, and even closing services.  Using the services of such a business will substantially minimize the amount of time you would spend seeking these services on your own.  Contact us for a list of publications and possible savings.


NEWSPAPER
You must consider this a source for advertising.  Be careful that you get your moneys worth.  If the newspaper offers a web link in the ad, do it.  Do not advertise on a holiday weekend, rates are cheaper but there’s a reason.  Provide the basic information especially price.  Many sellers think they will generate more interest if you don’t put a price in your ad... all you generate is more phone calls from people who probably aren't interested once they learn the price.  Target your market by including all pertinent information about your home.  You do not want people calling you who either can’t afford your home or who want something you don’t have.


INFORMATION SHEETS/PHOTO FLYERS
These are a must.  They should be in a tube or box attached to your yard sign for prospective buyers driving in the area, as well as having them available inside the home.  Providing these can substantially eliminate unnecessary phone calls.  Again, if you don’t have what a buyer wants, you really don’t want to even hear from them. Information sheets are inexpensive but vital.  They should provide a photograph, web address for more photos and a complete description of the home.


OPEN HOUSES
This type of marketing can be very successful for a builder with a new subdivision but with existing, owner-occupied homes, it’s questionable.  First of all, if a prospect has driven by the home, seen it in a FSBO publication or the local newspaper, chances are they would prefer a private tour.  They already know the price and the amenities of the home.  Generally they want to ask questions and get very detailed responses.  Also private showings allow you to ask questions of your prospect that you probably would not ask during an Open House.  Last but not least, you can lose control in an Open House.  What if thirty people show up and start heading in different directions?  You must control showings and you want feed back.  It just doesn’t happen with an Open House.

It’s interesting that different parts of the country view Open Houses differently.  In some major Midwest cities, for example, Open Houses are expected if you’re going to sell but in similar size cities in the South, having an Open House is the exception rather than the rule.  Therefore, you may need to adjust your marketing strategy to local custom.  If having an Open House is expected in your market, then by all means, do it.

INTERNET