Learning Center

The Importance of Exposure

There are two critical factors that must be "in tune" when selling your home. They are price and exposure. If the combination of these are not in balance you greatly diminish your chances of selling.

For example, let's assume that you price your home under the appraised value but don't properly expose it to the market. What do you think will happen? More than likely it will sit without anyone knowing about your great deal. This is very common. Sellers make the mistake of thinking that if they underprice the home and stick a sign in the front yard that the word will magically get out to buyers. The more qualified buyers that know about your home, the more likely it will sell at or above your asking price.

Conversely, if you overprice your home (a common rookie mistake) and advertise it to the world, it again will likely not sell. Think of all the money and time wasted exposing your overpriced home only to find that there is no interest at your inflated price. Buyers become wary of homes that have been on the market for too long and will move on to the next home.

Exposure comes in all shapes and sizes. How do you know which method is best? For optimal results look for exposure that is targeted to the audience that you are trying to sell to. In real estate, 90% of all homes are sold to local buyers so you'll want to find advertising vehicles that know and address your local market.

According to national statistics, 80% of home buyers start their search on the internet. Look for a well trafficked local website that offers multiple photos along with a generous description of your property. Don't be tempted by free or low-cost "national" advertising that doesn't have the attention of the local buyer. A good indicator of the effectiveness of a marketing service is to look for testimonials that are local to your market.

In addition to internet advertising, there are several other ways to increase your exposure. Signs are a great way to bring interested buyers to your home. Directional signs placed on corners leading to your property will help to direct traffic to your home. Be sure you check with your local town hall for any possible ordinances that may restrict the use of directional signs.

Now that you've lead the buyers to your home, post a for sale by owner sign on your front yard with your phone number and a flyer fact sheet box filled with information about your home. Property flyers provide information for buyers to take with them and remember your home. Be sure you replenish the flyers often. Many times it is your neighbors who find your buyer. They may have family, friends or co-workers looking for a home in your neighborhood.

Additional advertising in newspapers or local community publications will also increase your home's exposure. Take advantage of all the locations (most are free)available to post your home for sale. Think of any place that has a bulletin board, such as your work lunchroom, grocery stores, gyms, community bulletins and local hospitals. Check out the places you patronize, hair salon, laundry mat, cleaners and don't forget your place of worship.

Finally, word of mouth can help sell your home. You never know who knows someone wanting to buy a home.

Ultimately, it is having the correct balance of price and exposure that is the secret formula to selling your home - - or anything else for that matter. Accurately pricing your home from the start and then aggressively exposing it to your target audience will almost always result in the quickest sale.

For Sale By Owner Magazine

Learning Center

The Importance of Exposure