Homes are selling in rapid succession to the point that even pre-auction sales are surging to all-time highs as new home buyers want to make the most out of the more affordable financing rates and the swelling fear of missing out on the chance to own a home. In fact, homes are selling so fast that it doesn’t even take a week’s holding time before the listing receives multiple offers and finalises on the highest bidder — truly a seller’s market.
However, despite how the current real estate market situation favors real estate investors in riding this wave, it’s not the time to grow complacent. We should make the most out of the opportunity granted by the circumstances. And among the many areas that provide the most return, a firm grasp on marketing and advertising strategies is shaping up to be the saving grace that could increase your net profit margin by twofold.
Straightforward and Detail-oriented Listings Attract the Most Offers
While speed is essential to meet the insatiable demands of home buyers and the already limited housing supply, it is crucial that real estate investors take the time and effort to create straightforward and detail-oriented listings when marketing these properties online. And while some would argue that handling it from a case-to-case basis once you create leads is more effective, investing the effort much earlier will attract more offers than usual, giving you more flexibility and potential home buyers to negotiate.
- Solid Photos that Capture the Beauty of the Home: Of course, holding open homes and inviting leads to look at the house are both possible and an essential part of the process, but when you market the property with excellent shoes of the home that capture its beauty, your property will hook more people right at the get-go. And unlike pre-pandemic times, not everyone has the luxury of going out to look at the houses in person at any given moment. Therefore, photos and videos that showcase the home’s best features have become irreplaceable in this day and age.
- Comprehensive Property Descriptions: Although professional real estate agents are more than capable of providing potential home buyers with an overview of the home, attaching your listings with comprehensive property descriptions saves the need for talking to only the most important things. As a result, not only are you saving time on your end, but you also streamline the decision-making process on the buyer’s end as well. Hence, it’s a win-win situation for both sides.
- Reassures Professionalism and Credibility: When quality land and estate are marketed through straightforward and detail-oriented listings, it reassures all leads and potential home buyers of your professionalism and credibility. In fact, failure to put enough effort into marketing the property effectively can counteract the success of selling because it makes the home look less appealing. Therefore, it is in your best interest to quell any misleading doubts and ensure that no home buyer would misunderstand.
Demand for Quality Homes amid Limited Selection
Yes, demand for homes most definitely exists given the strained housing supply and the speed at which they sell, but people still want to own quality homes. Effective marketing of properties can help highlight your listing as a quality choice amid the limited selection. And because it aids your property with standing out, it also ensures that you receive a much better price than the typical listing.
- Increases the Property Value: While marketing may not be capable of appreciating the property’s value, it can, however, increase the property value by securing your initial offer or maybe even much higher than expected. Because your listing stands out as a quality home among others, it amplifies the value and lets you cash out a better return on your investment.
- Instills a Sense of Opportunity and Urgency: Last but not least, when the real estate property is marketed for its quality and effectively depicts the listing as a killer deal, it instills a sense of opportunity and urgency in would-be home buyers. They will treat your listing as a once-in-a-lifetime chance that might never pop up again and gives you the advantage in negotiating the final selling price.
However, an Effective Home Marketing Strategy Takes Time to Establish
Nevertheless, establishing an effecting home marketing strategy will take time and experience under your belt, so don’t go expecting to perfect the craft the second you try to learn it. Likewise, given that the unemployment rate is decreasing and economic confidence is rising, you will have plenty of time to capitalise and make the most out of this opportune market.