The Three P's in Real Estate

So, let me preface this by saying that I hate it when people give an oversimplified title to what is actually a pretty complicated process. Couldn't really help myself, but I hope that this does make things a little easier when it comes to earning the win in a listing presentation and selling your listings.

What's the winning formula for selling homes? Isn't everyone looking for that silver bullet? We all know that there isn't one. I like to follow these three P's when it comes to presenting my methods to a prospective seller and developing the listing strategy for a home.

Photos

90% of buyers use the internet in their home search, according to the NAR Profile of Buyers and Sellers. What's the first impression of the property they are going to get? That main photo. As we all know, you only get one chance to make a first impression. That impression is even harder to make online. Don't believe me, try online dating. Bottom line: if you aren't using a professional photographer on your listings, you are doing your client a disservice. It isn't expensive and it makes all the difference in the world. Tip: Take examples of your photos to your listing appointment and compare them to examples of an agent listing in the neighborhood that did not take professional photos.

Placement

Going back to that 90% number, where and how your listing shows up is also a very important part of your strategy. If your listings are syndicating to the big boys like Zillow, Realtor.com, Trulia, and Homes.com, you are missing out. I believe that paying for premier listings sucks, but until the industry gets its head out of its collective ass, it puts your listing front and center with prospective buyers. You can read more about my disdain for syndication by clicking this sentence. For Houston agents, despite the popularity of our local MLS site, keep in mind that 350 families a day are moving into the area and may not know the power of HAR.com. Being able to show your Seller that their listing is going to be seen by more people online is a big win. Check out ListHub and other syndicators for more details.

Pricing

Isn't this where your Seller wants to spend most of their time? Sure, because it's where they find out how much they make on the sale, right? Here's my strategy when it comes to pricing. The best analogy I have come up with, and the easiest to explain to a client, is via the wonderful world of Google. If you're website is on the first page of Google, you have a 96% chance of getting the ever-coveted "click". If you are on the second page, or worse, you aren't likely to be seen at all. A similar thing happens when people look at houses online. You see, most people will go online and look at a lot of houses, a lot. Here's the kicker, as they look at more and more houses they become pickier. The houses all start to run together. So, it is imperative that your house is one of the first ones seen. In our market, Buyers can search our local site in increments of $5,000. So, I would always recommend pricing at that break and not somewhere in the middle.

So, simply put, take great photos so you grab their attention, make sure it is on as many sites as you can, and make sure that it is one of the first they see. No promises here, but when I implemented this in my business, the number of showings my listings got went way up.