Marketing a home well is important if you want a fast successful sale. Have ever been involved in selling something for a business, purchased an item from a store? Companies target their market by implementing the 4P’s of marketing, Price, Place, Product, and Promotion to sell that item. This is pretty basic, right? Not always…
Apply this to when a homeowner decides to sell their house.
Use the 4 P’s of marketing when selling real estate
The comparable’s of other houses that have recently sold is an excellent indicator as to what a house is worth. By using comparables you learn the value of your house is in the market it establishes a fair Price.
Then you look at Place, this where is your house is situated. A neighborhood, desirable town etc. the place can affect the price.
Promotion this not only includes MLS, advertising, and open houses. It includes the buzz created on social media. If the house has a buzz, the more people that see the product the more action that the product will receive. Keep in mind that if the product is not presented well the product will not generate a lot of interest.
The Product is the house. Buyers look to see if it is new, old, has it been updated, what features does your house have that buyers desire in your market. Again, the product can reflect back on the Price. If the presentation of the product (home) does not interest your buyer, you have missed that target market. Think of this, if you had $xxx to spend on anything, where are you going to spend your money? Typically on the product that communicates value – the best item available at the best price.
How can a house speak value to a buyer? Through the presentation, by making sure that the house is updated, furnishings convey what a buyer desires, emotional points that make that house sing to a buyers mind “I want this one.”
Hiring a professional stager will assist you to concentrate on what buyers want. Your goal is to make your house stand out above the competition. We know how important the presentation of the product is to a buyer. Marketing a house has numerous components. If anyone of the 4P’s is not implemented, the marketing will not be successful. Staging allows you to create value. It is an essential aspect of marketing a property.
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