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There are three main factors for success in selling a house in any market.
They are: price, exposure and condition. When a market is hot, exposure may
not seem as critical as it is in a slower market, but no matter what kind of real estate market we have, your home won't sell until it is seen by potential buyers.
What is exposure? Simply put, exposure is placing your house in a position to be seen by as many potential buyers as possible. It is a fact that the more people who see a property, the better chance it has to sell. Exposure is the major component of marketing, and is probably the most difficult problem that homeowners face when trying to sell their homes themselves.
Real estate companies spend a great deal of time, money and effort developing procedures and strategies which are designed to provide the maximum exposure for properties they are marketing. Sellers pay Realtors to sell their property in part because they recognize that they simply cannot hope to expose their property to as many potential buyers as real estate companies are able to do.
We have a lot of newcomers arriving in our area every week, many of whom have serious plans to buy property and settle down. Many are already working with Realtors, and most of the others soon will be. Realtors are good guides to the area, and most are able to offer solid advice on neighborhoods, schools, job opportunities, taxes, cultural advantages, etc... almost anything a newcomer needs to know. It costs buyers no more to take advantage of the services of Realtors, so most do!
If you are considering selling, and you are interested in the quickest sale at the best price, then hire a Realtor to manage the sale of your property. The Realtor will undertake the expensive business of gaining the maximum exposure possible for your property. You might want to interview several Realtors, and ask them how they would market your property if you hired them. Listen carefully to their answers.
One of the major components of exposure is advertising. Realtors frequently
will use a variety of local advertising for properties they list. Among these are the Belleville News Democrat, O'Fallon Progress, Scott AFB Command Post, and Scott AFB Base News classified ads, as well as flyers, open houses, and in some cases, the Internet, brochures, direct mail, etc, depending on the Realtor and the type of property. Their yard signs should be prominent and attractive, and they should belong to a referral network for potential buyers coming to our area.
The most effective agency of exposure is the Southern Illinois Regional
Multiple Listing Service (MLS), an organization owned by the Board of
Realtors, and consisting of over 100 cooperating real estate organizations and some 600 sales associates. These organizations offer sales commissions to other members who bring in a buyer for property they have listed. The MLS is expensive but it offers terrific exposure to properties for sale.
The MLS offers a dynamic computer database accessible by all member Realtors which provides critical data on properties for sale. Member Realtors can quickly compile lists of properties to fit the specific needs of buyers they are working with - for example, a Realtor can easily compile a list of all three bedroom two bath homes in the Pinetree Estates area of O'Fallon with a fenced yard, family room, two-car garage and priced between $100-120,000! This is an enormously powerful tool for exposing your property to the most potential buyers possible.
By listing with a Realtor and insuring that your property is in the MLS, you potentially have all 600 sales associates trying to find buyers for your property! On the other hand, Realtors will avoid the few properties for sale by owner, and those for sale by real estate companies who customarily do not pay commissions to other Realtors who have buyers for their property.
Another major component of exposure is accessibility. If the property can be easily shown by Realtors, then it will get a lot of showings and a lot of exposure. MLS members have lockboxes, secure devices which can be opened only with a special key, and only then with a special code which is unique to each Realtor. When the special key and code are used, a key safe will pop out which contains a key to your house. The Realtor will personally guide the potential buyers through your home, and show your property to its best advantage. You will not need to be home, but you can put conditions on the access to your home at the time of listing (such as calling first, making appointments, etc). Generally however, the fewer conditions, the more exposure.
So, if you want the quickest possible sale, you have to insure your property gets maximum exposure! Ideally, this means listing your property with a Realtor you trust and feel comfortable with, approving their marketing and advertising plan, making sure that the property is listed in the MLS, and agreeing to have the Realtor's yard sign and a lockbox on the property to allow access when you are away. If you price it right, make sure it's in top condition to compete against other properties, and get it maximum exposure, it should soon be SOLD! |