By OCInSite Site Admin | August 10, 2012 9:00 AM
Realtors are ever on the ball, adapting to every means to get their clients’ homes on the market or find the ideal home of their dreams.
And marketing a home has become a whole new ball game these days, the Internet giving the realtor and homeowners a wonderful tool for detailing every aspect a home has to offer. But now realtors and homeowners are turning to Facebook, Twitter and LinkedIn to market properties in our sluggish market, getting facts and figures about a home out instantly not only across the country but across the world.
This new audience gained through tapping the social media groups needs to be worked with finesse, just like all the other steps real estate transactions tend to require. Sharon Paxson, a full time realtor with Prudential California Realty, has lived in Newport Beach for more than 17 years and loves working out the best strategy to sell a home or finding the perfect one for any buyer.
Early this week, she tuned me into the methods needed these days to market a home, along with a reminder of the good tried and true ways to seal a deal.
Q: Do you think the market has finally turned around from last year?
A: Well, the most significant change has been the declining inventory of homes for sale. We are seeing homes priced at market value selling with multiple offers. It often takes several negotiations to come up with the right offer sellers are willing to accept. The situation here is to write an offer that will come in at the highest and best offer as sellers may not counter. It gets tricky and does require a lot of inside information to get the right price in place.
Q: What becomes the negotiating terms if people are paying the price of the home and more?
A: There can be several contingencies including length of escrow and if a buyer is obtaining a loan. Cash buyers usually are considered more strongly, and at times cash buyers are not asking for an appraisal contingency either. Some buyers are trying to make their offers more attractive by not asking for additional items such as home warranty plans also.
Q: For those thinking to sell, what new marketing trends have bubbled up over the past couple of years?
A: Of course, the Internet - utilizing the leveraging power of social media sites to promote real estate business and listings. This maximizes exposure for listings with its broad base of contacts which gives any property great exposure and the ability to sell quickly. Both buyers and sellers benefit from this form of coverage. Using the Internet, especially social media, is huge due to the instant communication it provides the consumer with the information they are seeking. Launching a website, home-tour videos, blogging and groups such as Facebook are the new tools, but I definitely recommend a strategy to it all so it all doesn’t just become “white noise” to everyone.
Q: How does this offer a better solution to selling and buying?
A: These days buyers begin their home search right on the Internet. Home search sites are very abundant with loads of information about a home. Also gathering Community information is easily found on the internet to give a clear picture about a neighborhood and its surrounding merchants. For families acquiring necessary information on schools, once again the internet provides all that. Additionally, home owners like to keep abreast of the current market value of their home where up-to-date pricing can be accomplished on line. It is recommended that a Realtor provide a comparative market analysis because internet estimates may not be so accurate since they only provide a general scope and do not include specifics about a property or upgrades which have been done.
Q: Being media deficient, can I leave the tweeting, etc, to my realtor?
A: As I described earlier, the new tools they provide are great but require the right information and moments. There are many methods to automate the social media sites and I tend to utilize those to be as efficient owithmy time as possible. In my personal business model, maintaining updated information on a website or blog site is crucial and is something that I do on a daily basis.
Q: Being a lifelong Newporter, what advice can you give to someone thinking of putting their home on the market? Pros/cons?
A: 1. Hire a full time Realtor that understands how to promote the property on the Internet and leverage social media sites. One of my marketing techniques is to build a custom website for each property with a custom URL.
2. Pricing is still a key variable when putting the home on the market. Homes will continue to sit on the market if they are overpriced.
3. Prepare your home to sell, I tell my sellers to think like a buyer. De-clutter, organize, repaint if needed, and keep it neat and clean. I provide my sellers with detailed list on preparing the home to sell. Keep in mind the home only has ONE chance to make a first impression.
4. Utilizing professional photography also to showcase the listing is important, and also community information photographs and video is crucial to highlight an area, The community information is important for those relocating to the area.