Three Reasons Why Strong Home Marketing Matters Now More than Ever
You’re ready to sell your home – are you confident that you’ll get your property’s maximum value? In a changing market and in a world that is increasingly centred around social media, an effective marketing strategy is vital to ensuring your home sells for what it’s worth. Here are three reasons why strong home marketing matters, and why it’s especially important in this market:
Reason #1: Effective marketing is always important – but in a more competitive market, it’s critical
According to Harvard Business School professor Gerald Zaltman, 95% of purchase decisions are guided by emotion and intuition, so whether it’s a buyer or seller’s market, it’s always important to prioritize marketing when selling your home as this is the medium that speaks directly to these two important factors. However, more home inventory and longer days on market mean your home needs something to give you more of an edge on the competition, and that something is marketing.
Last year’s red-hot market broke real estate records in Simcoe County and across Canada. While we were in a seller’s market, now we’re seeing the scale tip the other way, with home prices beginning to fall and supply levels beginning to rise. With interest rates expected to increase even more this year, the time to sell is now – and your key to selling in an environment of increased competition lies in marketing. A smart, strategic marketing approach means that more buyers will see your home, the quality of what they’re seeing will help them to fall in love with it, and this in turn will result in offers, a shorter time on the market, and ultimately a higher selling price.
Working with a real estate team that prioritizes expert marketing gives you the power to get the most out of your home in any market, but in a particularly competitive one, it’s even more important.
Reason #2: Professional marketing means your home will look its best – and sell for the best price, too
The minute your house hits the market, it becomes a product. This mental leap is the most significant one every home buyer must make in order to sell for top dollar. Every product needs marketing to help it appeal to a wide base of potential buyers in a way that will make them feel like they not only want it, but need it. For home sellers, this process begins with home staging which is focused on making your house a beautiful, spacious, and universally appealing space so homebuyers can easily imagine a life there. Working with a trusted real estate company means you have access to free home staging which can help you transform your home in the most effective and cost-efficient way possible. Sprucing up your place goes a long way when selling. According to HomeAdvisor, homes that have been staged spend 33%-50% less time on the market. In a 2021 survey by the NAR, nearly a quarter of surveyed real estate agents reported that staging directly led to increased offers of up to 5% compared to similar listings that weren’t staged.
Once your home is in tip-top shape, the next step in the marketing process is to make sure that as many people see your property as possible in a way that showcases your home at its best; this means stunning photography and 3D home tours that will tell the story of why your home is the one a buyer needs. If you want to earn a maximum profit from your home sale, working with a real estate team that provides professional photography and 3D home tours services is crucial, so be sure to see samples of the work they do before you make a commitment. Homes that have been professionally photographed sell 32% faster. Marketing that focuses on making your home look beautiful and inviting both in-person and virtually is essential.
Reason #3: Digital-savvy marketing = more offers
Speaking of viewing listings virtually, did you know that 93% of home buyers search for listings online? Social media is hardly a new development, but it plays an ever-increasing role in the world of real estate. Because the overwhelming majority of potential buyers start their search online, having a robust digital and social media marketing strategy means your home will sell faster and with more money in your pocket.
While digital media is an essential marketing tool, its landscape changes everyday, which presents its own set of challenges when trying to sell. Having a marketing team that can keep up with the trends and reassess strategy on a daily basis means you can reliably harness the power of online and social media without the headache – and at the end of the day, that translates to more offers and a higher return on your investment.
So before you make a commitment, ask specific questions about a potential Realtor’s digital strategy. How are they going to ensure that your home is going to be seen by the broadest base of potential buyers possible? Will your property be listed on local, GTA and national real estate boards? What is their advertising strategy? What kind of reach can you expect from this advertising?
Are you looking to sell your home? Have you got questions about our marketing strategy? We’re here to help. Connect with our team today to get started!