Believe it or not some homeowners are hoping that luck will sell their homes.  But luck is not a good strategy.  Let me explain why I say that.  There are several elements to guessing, or hoping, or relying on a shot in the dark to sell a home.  Here are some of the common ones I see homeowners using in this real estate recession:

Number 1.  Listing with any real estate agent without due diligence on their experience or success (and may I add “integrity”) is not a good strategy.  Do you think education, experience, and integrity matter?  I’ll let you answer that.  The point is that just picking any agent out of the air and hiring that agent is shooting from the hip.  Not a good method for getting the most effective counsel you can get to sell your home in challenging times.  There are some very experienced agents with integrity.  Find one.

Number 2.  Guessing at what is effective today to market a home is not a good strategy.  For example, some homeowners do not know what advertising methods are effective.  They may not be tuned into what no longer works as well or what no longer works at all, and they may not be tuned into the latest and most powerful Internet marketing strategies.  Simply putting a listing in the Sunday issue classifieds is not an effective strategy anymore.  Or “maybe I should use Craigslist,” or “I think I’ll run an ad in . . .”

Number 3.  Wasting time on open houses is not a good strategy.  Read more about Why Open Houses Don’t Sell Homes.

Number 4.  Spinning your wheels trying to come up with brilliant new ideas is re-creating the wheel.  That’s not a good strategy when experts know precisely what works and doesn’t work and how to effectively market your home.

Number 5.  Dropping the price when you don’t know what else to do is not a good strategy in and of itself.  If your home isn’t being effectively marketed to reach the most qualified buyers, then dropping the price may be a good way to leave money on the table.

These approaches are relying on luck.  Luck is not a good strategy.  Selling your home should involve a great marketing plan based on effective strategies that work.

 

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