3 Sales Tricks For A Quick And Simple Home Sale In A Flooded Market
If your local real estate market is flooded with homes for sale and you fear it could take a long time for your property to sell, then there are a few sales tricks of the trade your real estate agent can use to elicit a quick and simple sale. Here are three of the most effective:
Sales Trick #1: The "Coming Soon" / Pocket Listing
If you have ever driven by and seen a real estate sign in someone's yard with a "coming soon" sign on the top and wondered what that was all about, this type of situation is known in the industry as a pocket listing.
When a realtor has a home under contract but is holding out on listing it on the Multiple Listing Service (MLS), this is referred to as a pocket listing because there are a limited number of people who know about the future offering.
Pocket listings and "coming soon" signs are used to make a sense of urgency for serious buyers to try and get in first to see the property and perhaps put in a purchase offer before others have the opportunity.
The downside of pocket listings is the limited exposure your home will get. However, this is offset on the upside by the fact that you won't have a bunch of lookie-loos asking for showings even though they don't have any serious interest in buying your property.
Sales Trick #2: Use a Deferred Showing Tactic
If your realtor wants to put your home on the MLS for maximum exposure but believes you could have multiple purchase offers if enough buyers tour the property, then they can use a deferred showing tactic.
For example, your home goes on the MLS on Friday afternoon, but there are no showing appointments allowed before the following Friday. This queues up all of the interested buyers for viewing the home on the weekend following the listing and could lead to a multiple offer situation because they all know there have been many showings and they need to make a quick decision.
Sales Trick #3: Have Professional Photographs and Drone Footage Shot and Put Them Online
Today's home buyers are internet savvy and like to take initial online tours of homes they are interested in. In fact, some people fall in love with a specific house simply by having looked at its marketing photos and drone footage online!
Online home shopping makes high-quality photos and video a must, but it also gives you a huge opportunity to reach buyers all over the world.
To give your home the best chance of selling for your target price, it must be photographed by a professional photographer who specializes in real estate, and the images should be online where they can easily be found.