We’re living in an era where everything is changing in an explosive pace. With the rapid growth in information & technology, businesses are finding numerous new ways to communicate with their customers. On the other end, customers have all kinds of information on their fingertips now and thus they’ve become much more challenging to impress.
Customers use internet and social media to research before they go out to make a sale. They talk to other buyers of the same products before they approach the sellers. And this makes them much tougher to handle than the uninformed buyers of the past.
In a dynamic world like this, if you don’t change your strategy to adapt to the current scenario you’ll eventually ending up losing your share of business to your smarter competitors. The same is thing applies to realtors.
Old rules have become obsolete, you must now enter the area with a new strategy.
If you stick to the classical methods of real estate marketing and sales, you won’t be able to win over new customers much longer.
Listed up in this article are 5 obsolete real estate tips that you should avoid at all costs if you want to stay among the top realtors in your area:
Overprice your home.
Thanks to the internet, people can research the real estate market in a matter of minutes. They won’t be fooled by big numbers. They are looking for value, and if they’re not getting good value for their money then they’ll move on. Therefore, it is important to price your homes right.
Price your homes competitively if you want people to show interest in your home. Make sure they see value in what you’re selling them.
Get Fixed 30-Year Mortgage
Advising people to get a 30-year mortgage in a time when people aren’t likely to spend more than 10 years in one place doesn’t make much sense. Times have changed, we’re living in a fast-paced world. People move from one place to another within a decade or less. In such a scenario, they’re more likely to prefer 5 year to 7 year adjustable loads as compared to a long 30 year mortgage having fixed payments.
Help your customers find a loan that suits them according to the new trends.
Sell your house in the spring
Selling in the spring would boost up your chances of closing a sale in the past, but that trend is long gone. Thanks to internet and the social media, houses sell all year round. Thanks to detailed targeting features on most social media platforms, it has become easy to find buyers even during stormy winters. You don’t need to stick to one season to boost up your real estate sales, you rather need a good strategy that works all year round.
Sell it as it is
There was once a time when sellers were told to sell their home without investing much into repairs. At that time, buyers could buy the home at discounted prices and get the repairs done themselves. However, this does not work anymore.
Most buyers hunt for real estate on social media and real estate listings online. They’re exposed to tons of good looking homes compared to which homes having broken cabinets and other defects don’t stand a chance. They’re not likely to give these homes a second glance regardless of the lower price point.
You don’t have to get every nook and corner of your home repaired to prepare it for a sale, but at least make sure that the house is presentable and it looks good enough to get the prospective buyer’s attention.
Advertise your Listings in the Local Newspaper.
The days of people looking up listings on the print media are long gone. Most people look for real estate on online real estate portals and social media. Instead of focusing your efforts towards landing an ad in the print media, we recommend that you invest in having your home listed on a popular real estate website along with strong supporting material such as good photos, virtual tours and more.
Despite all the change in the industry, one thing stay the same and that is the need of consumers to get good value from trustable partners. Make use of all the new tools & mediums to win your consumer’s trust and earn a good rapport by delivering more than what you had promised your customers.
Let go of the past and find new ways to reach your consumers. Integrate social media in your real estate marketing strategy. Start a podcast to share valuable insights with your customers to build credibility. Invest in building your rapport and network through both online and offline mediums, stay on top of the industry news.
It is time to break away from the traditional strategies and come up with creative approaches using concrete data to reach the right customers at the right time using the right medium.