Marketing a home is not as easy as posting on the MLS, kicking your feet up, and waiting for the buyer of your dreams to walk through the door. There are several key factors that go into creating and implementing a marketing plan that will attract buyers. In the San Francisco, California area, home sales have slowed and selling prices have declined. It is important to think through your marketing plan so that you can adjust to the declining market and sell your San Francisco home fast for a great price.
Evaluate your home like a buyer
Before you can sell your home you need to know and understand its strengths and weaknesses and how they will affect your selling strategy. One way to do this is to conduct a SWOT analysis. A SWOT is a marketing assessment tool that can examine your home for strengths, weaknesses, opportunities, and threats.
- Strengths: What separates your home from others? What upgrades or unique additions does your home have?
- Weaknesses: What might deter buyers? Age, location, yard size, upkeep, etc.
- Opportunities: These are external factors that will give your home a competitive advantage. Did the home down the road sell for 10k over market value? Is it a hot seller’s market? Are homes seeing multiple competitive offers?
- Threats: These are external factors that might deter buyers. Are mortgage rates climbing? Are you selling during a slow market? Is inflation slowing buyer activity?
Identify your ideal customer
When companies set out to sell their product they have a specific category of buyer in mind and they tailor their marketing strategy toward those buyers. Begin to identify your ideal buyer with a demographic search that will show age, occupation, marital status, and income. Next, look for family and lifestyle factors of potential buyers. When you have a group of buyers in mind you can craft a marketing plan that directly targets them.
Consider your marketing materials
Now you know your home’s strengths and weaknesses as well as the target buyer, which means all that’s left is to find the right mix of material materials. Some marketing materials are obvious, like the listing in the MLS, high quality professional photographs, and an interesting listing description. If your target market includes millennials, which is the largest buyer pool, you should consider using more online marketing than word of mouth. Use social media such as Facebook and Instagram to allow for ample visual content. Your real estate agent should utilize email marketing campaigns as well and take advantage of newer virtual tours. On the other hand if your ideal buyer is older you should use more online publications and flyers in local businesses.
Outline your marketing timeline
Every local real estate market is unique which means your listing time will be specific to your locality. If your goal is to sell your home quickly and get it off the market within 30 days you should list during the spring. More specifically, March tends to be the month that brings the most buyers and the greatest chance of a quick sale. In order to be prepared to list your home, you will need to follow a few steps before listing.
6 weeks before listing
If your home needs upgrades or repairs contact a real estate agent now. Schedule a home inspection and get repairs and upgrades done quickly.
3 weeks before listing
Deep clean, declutter and stage your home
Hire a professional photographer and schedule a photo shoot, video, and/or 3-D tours
2 weeks before listing
Draft a listing description with your agent
Mail ‘coming soon’ flyers
Start ‘coming soon’ mini listing on social media
1 week before listing
Choose photos for your listing
Approve MLS listing materials
Launch Day
Put up for sale sign
Post “Just Listed” ad on social media
Email “Just Listed” campaign to buyers agents
One month after launch day
Start social media blitz
Second round of direct mail flyers go out
Modify marketing if needed
Amplify Popular Upgrades
Your top priority as a seller should be to amplify all of the aspects of your home that make it special enough for buyers to pay top dollar. In order to do this you need to market the qualities of your home that are popular among buyers. Popular home qualities for current buyers are:
- Energy efficiency – upgrades like solar panels and Energy Star certified windows which over 62% of real estate say are a priority for California residents
- Kitchen upgrades: plenty of storage, kitchen island, and stainless steel appliances.
- Backyard upgrades: swimming pool, outdoor dining, covered patio, and a fireplace
- Curb appeal: manicured lawn, drought resistant landscaping, and inviting front porch.
With the right marketing strategy you can avoid the stress of waiting for your home to sell. Speak to a trusted real estate agent who can help you develop and implement a winning marketing strategy.
