PLACE
Place, or placement, refers not only to where prospective buyers will find your home, but also how your home is positioned in the marketplace. Ensuring that the right audience sees your home’s listing is imperative to achieving a successful sale with the best price and terms that fit your needs and timeframe. The first step in determining the right audience for your home is by taking into account the home's specific features. For instance, if the home is a luxury condo in a bustling downtown district, the most likely buyer would not be a young family or a retiring couple. More accurate determinations are done by using statistical analysis and demographic modeling. Price also plays a role in positioning your home. For example, by pricing your home slightly below the price point of your competitors, you not only create perceived value in the minds of buyers but it positions your home above others in any online searches, which is where 97% of all prospective buyers begin their real estate search!
PROMOTION
Now that you know which audience you want to target and where they are most likely to find your home, you must determine the best way to promote your home to that audience. Promotion is essentially the 'how' of marketing- how to effectively create a story, both visually and descriptively that attracts your targeted audience right away. Getting your home sold quickly relies on ensuring that your home not only gets seen by the right audience, but that you create an emotional
51
Powered by FlippingBook