• The Power of Digital Advertising and Selecting your Realtor/Agent

    Thursday, March 14, 2019   /   by Jay Lesko

    The Power of Digital Advertising and Selecting your Realtor/Agent

    Let's be honest, listing your home for sale is stressful.  Home sellers are in a constant state of reactiveness once they list their home for sale.  From the time you sign a listing agreement with an agent, it' a whirlwind of activity in your home.  Photographers, Videographers, and Home Staging Experts are positioning and moving household furnishings.  In some cases you may have movers assisting you to place items in storage.  

    Once you finally have your home ready for market, you wait!  You wait for showing requests, home showing feedback forms, an offer, a ratified contract, a clean home inspection, and finally if the deal is financed, a mortgage commitment letter.  And from time to time, issues could arise at the closing table.  

    If you as seller are going to undergo all the mental and physical stresses involved in listing your home, doesn't it make sense to hire the right Realtor to get you through the process?  Would you choose a service provider (let's say a doctor) that has a review rating of less than 5 stars?  Probably not!

    So how do you select the appropriate agent to list your home for sale?  In today's technology driven age, seller's must do their research to understand how marketing a home for sale differs today than it did 30 years ago.  I call it, "The Power of Digital Advertising."  At our core, real estate agents are actually marketers; and being a marketing expert requires an in-depth understanding of how digital marketing systems and processes work.  

    Once you list your home in the Multiple List Service, a variety of systemic digital events occur.  Listings are syndicated to companies like Zillow, Trulia, and Realtor.com just to name a few.  95% of homebuyers will view a home they will see in person online.  So having a great digital presence and perception when you home is listed is absolutely critical.  Here are some key questions to ask your Realtor / Agent during a listing appointment?

    • How many home sale transactions have you completed in the last 12 months?
      • This question can be two fold.  You want a Realtor/Agent who has experience in marketing your home.  Of course the more quality sales is a strong sign that you are working with a qualified agent, but this question is designed to give you an idea of an agent's experience.  The average agent in my market closes 12 transactions per year.  Anything more than that they are doing something right.   
    • How do you market your listings?
      • This is my favorite question in a listing appointment and I utilize this question to outsell my competition.  Agents/Realtors must have an expert level in this area to earn your business.  The Multiple List Service alone does not sell houses anymore.  It takes ingenuity, creativity, and solid networking skills to sell real estate.  Ask the Agent / Realtor their familiarity with email drip campaigns; If they use a Customer Relationship Management database; Do they run retargeting / remarketing ads (you see these on Facebook and Google all the time).  If you're agent seems puzzled by these questions, they be relying on traditional methods and missing the market.
    • What is the average days on Market for your listings?
      • This is question is important for two reasons. 
        • 1.  Agents with listings on the market over the the average days on market for their area is generally a red flag.  Days on market correlates directly to market price.  It's no surprise that overpriced listings sit on the market longer and in most cases sell for less than their appraised or market value.  An agent may inflate the value to earn your business, but in reality they are earning the business of more clients.  Your listing represents an opportunity for the agent to grow their client database through marketing activities like open houses and unrepresented buyers.  The reality is the agent is after more clients and hopes to sell your home in the process
        • 2.  Agents with lower days on market represent honest and realistic entrepreneurs that want to earn your business.  They see your home sale as a business opportunity and will invest time and money into marketing your home, but most importantly, they will bring you back to reality on pricing and marketing strategies.    
    • How many active buyers to you currently have looking at my price point?
      • If the answer is "Zero", then move on.  Successful agents are working the phones and prospecting with buyers and sellers every day.  

    There are many more questions you can ask, but your goal should be focused on finding an agent that best suits your market and style with a mix of traditional and more new age marketing strategies.