Today’s Ask the Expert column features Rebecca Chandler, Vice President of Marketing for NewPoint Media Group.
Q: In today’s market, where competition is fierce and seller expectations are high, how does a winning marketing strategy equate to winning more listings?
A: To answer this, we recently surveyed more than 2,500 homeowners in order to learn the actions they take prior to listing their home and the services they value most from their agent.
One thing was clear: Sellers have higher expectations of their agent’s marketing plan than just placing the listing online and a sign in the yard. In fact, more considered marketing the most important service they expect from their agent over selling skills, overseeing the transaction and negotiation skills.
However, while many agents and brokers consider wide Web exposure to be a sufficient marketing plan, it’s important to consider the following: Depending on the reporting service, Web traffic to real estate sites ranges from 60 million to 100 million monthly. However, the National Association of REALTORS® estimates that only a little more than 5.5 million homes will be sold in total this year.
This means not everyone shopping on a real estate site is a home-buying or -selling consumer. In addition:
• Home shoppers visit multiple sites—many in the same session—so they are multiplied over and over in estimates.
• Many are not shopping for real estate agent-listed homes. Many sites include rentals, apartments, FSBOs, sold properties, neighborhood information, etc.
• Many visitors are agents or tire kickers browsing available listings for research or enjoyment.