The Multiple Listing Service is by far the most important tool available to market a property. Over 97% of all transactions involve the MLS.
We can set up automatic MLS searches for buyers so they don’t have to manually search the MLS daily and risk missing the perfect property. When a new listing comes on market that meets their search criteria the system sends out an email notification of the new listing.
Role of the MLS
Internet marketing of real estate is making print advertising almost obsolete but just posting property on a real estate website is useless unless a buyer finds the website online and the listing quickly catches their attention. A website must grab a visitors attention and then allow them to quickly find what they are looking for.
Research by Internet marketing experts indicate that unless a website comes up in the top few search results, it is rarely even clicked on and viewed by Internet users. Studies also indicate that a high-ranking natural search result as opposed to paid position advertising leads to more traffic and higher lead conversion. If a website doesn’t rank at or near the top on keyword searches, it will receive very few visitors.
After several years of research and consistent work, this website has and maintains top rankings on all the major search engines. Were it not for that high ranking, you would not be viewing this page.
In addition to our website, we employ an Internet marketing firm that posts our properties on their website and on dozens of other real estate related websites. The postings direct visitors to our website gaining even greater exposure.
Virtual tours get mixed reviews from buyers. Often the virtual tours are painfully slow to load and duplicate the still photos on the listing.
The virtual tour system that we use on MLS is the most comprehensive that we have been able to find. We take several photos of a home’s interior and exterior. Software then stitches the photos together creating a panorama.
Yard signs remain a staple of the industry and are a moderately effective tool. Buyers will still drive around in a neighborhood that they like, looking for available homes.
Take One Flyers
In the first few weeks of a listing, it’s almost impossible to keep a flyer box full. Curious neighbors are generally the reason. Everyone is curious about the list price and relate it to what their home might be worth. As with yard signs, take one flyers are moderately effective but reach a limited number of buyers.
Real Estate Magazines
We have several real estate publications in our area and use them all. Most of the publications have a strong Internet presence as well as a large circulation. We do receive a modest number of buyer leads from the magazines.
Newspaper advertising is one of the least cost effective methods of advertising to generate a sale of a specific property. The chief advantage is to the realtor in name and face recognition.
Direct mail is similar in effectiveness and cost as newspaper advertising. We use direct mail and have had a few leads. Almost every time we do a large direct mailing, we get another listing or buyer to work with but we haven’t sold a specific property from direct mail advertising.
Television advertising is also mostly effective for name and face recognition for the realtor as opposed to selling property
It’s very rare that a home is sold as a result of a buyer visiting an open house. An open house is much more effective in generating buyer leads for the realtor holding the open house. Often new realtors with few clients will hold open houses for more experienced and busy realtors in order to obtain buyer leads. Another function of an open house is to help calm a nervous seller.