Why MARKETING is VITAL to sell your home or Real Estate Property.
To let you know a little about myself, before I stated in the Real Estate World I had been a professional commercial photographer for 15+ years. I have worked on photography and marketing campaigns to sell to Costco, Target, Sam’s Club, Amazon, Countless Online Websites, Aerospace, Different Wine & Spirits, Clothing, Supplement/Vitamin, Magazines, Models, Weddings, Tons of Furniture, Cutouts, Room Shots, and the list goes on. As far as creating something aesthetically pleasing to sell to consumers I have been involved in all aspects of how the process is done. Many principles of selling a small product can be applied to other sales in every other industry. It doesn’t matter if you are selling widgets; marketing is KEY in every aspect of anything you sell.
There are many agents out there today that really don’t spend a whole lot of time MARKETING their client’s home. This is a common problem with agents today, especially in an upwards market. Currently in Riverside County we are in a Seller’s Market that is acting like a Buyer’s Market. It’s truly a unique time we are in. Please allow me to briefly explain some of the market trends of today in Riverside County so I can clarify Why MARKETING is VITAL to sell your home or Real Estate Property.
The problem with agents and a Seller’s Market is that when you have properties in the lower price ranges, agents tend to get lazy because they are sold so quickly. A majority of homes sold over the past year in our community have been to Short Sales. Traditionally these short sales are selling properties at great prices below market value. The Banks have also facilitated this Seller’s Market by holding onto properties longer than what they would normally in a standard market. What I mean by that is: Banks are postponing sale dates longer and longer without allowing them to be sold by either short sale or trustee sale. This creates a shortage of inventory in the market and artificially inflates the prices of homes. This hasn’t increased the home prices a ridiculous amount, however just enough for the banks to increase their profit from the normal short sale prices. The upside of the banks holding onto properties longer is that the market won’t be inundated with properties and thus lowering all home prices in a specific area. Of sorts, it’s a Catch 22. Without the shortage we would be flooded, although the shortage is what keeps home prices stable.