Increasing Buyer and Agent Calls

The real estate market; In a buyer’s market it is twice as important to increase buyer and agent traffic over other types of market conditions. If you aren't getting enough showings because your curb appeal is in the gutter, so to speak, it might not be the list price that is the problem. It might be because there is an abundance of inventory on the market and buyers have plenty of homes with great curb appeal to choose from.

Here are Some Great Ways to Increase Your Traffic

1) Offer a Competitive Commission to Buyers Agents

Review your listing agreement to determine how your agent is splitting the commission you are paying.  At least 50% should be going to the buyer's agent. It's your money so you can direct how much of that fee goes to the buyer's agent and how much goes to the listing agent. Maybe consider increasing the commission to pay the buyer's agent more than what other buyer's agents are receiving in your area.  Example, in the market  last year a hard to sell property that was on the market for 90 days, in an area where the traditional listing fees were 6%, with 2.5% going to the selling agent, the commission was raised to 7% and the buyer's agent was offered 4%. It sold within a few days after the increase.

2) Make Your Home Easy to Show

In the market, at a bare minimum, your MLS listing should read "call showing service, lockbox”. The first call is to let you know that a buyer’s agent is coming to show your property. If you request "by appointment only" or ask that agents only tour your property during certain hours or if you require that your own agent be present to show because your agent cannot possibly be available 24 hours a day agents will likely show another listing that isn't so restrictive and scratch yours off the list.  If you don’t let potential buyers into the house how will they ever make an offer on it?

3) Use an Electronic Lockbox

Using electronic lockboxes in the market allow agents to show your property if you are not home. If you do not answer your phone, the agent should leave a message and go directly to show your property. If you live in a gated community you will have to provide access information for the buyer’s agent.

4) Increase Traffic Through Massive Market Exposure

·         Think about your target home buying audience. Send direct mail postcards to all surrounding homes and to areas that attract buyers to your neighborhood.

·         Advertise in local weekly newspapers.

·         Advertise in different sections of your areas daily newspaper on the weekends. It's not enough to just to advertise under the areas classification section.

·         Advertise online on BackPage, Craig’s List, Google Homes and Truila and other free online subscriptions.

·         Consider advertising in home magazines.

·         Make a home video and upload it to popular video sites.

5) Offer Lunch for Broker's Tours

In many markets it is common for listing agents to pick up the cost of a catered lunch. Instead of zipping through a home on tour, agents will generally linger in the home, noticing details a fast tour would miss. Offer a drawing for a free gift certificate or game tickets.

6) Host an Open House

Organize other home sellers in your neighborhood to join forces on advertising a neighborhood open house event. Publicize the event everywhere you can think of.

·         Buy brightly colored helium balloons and streamers.

·         Hire somebody to stand on a busy street corner with an open house sign arrow and spin it, waive it toward your home. It may cost you $15 an hour, but it gets attention.

·         Serve burgers, hot dogs and soft drinks.

·         Hire a face painter or clown to entertain children.

7) Send Out Fliers and E-Flyers

It's relatively easy and inexpensive to create flyers and e-flyers.  E-mail this flyer to every person in your e-mail address book. Ask your agent to send e-flyers to every agent who works in your area.  Also, print some fliers for neighbors and local real estate offices.

8) Make a Short Time Offer

Advertise a short, limited time offer that buyers can get if they act quickly enough. Everybody wants a good deal, and buyers are more motivated if that offer is going to soon vanish. For example you can offer to:

·         Prepay the property taxes or insurance for a year.

·         Pay down the buyer's mortgage interest rate for a couple of years.

·         Credit a percentage of the sales price toward the buyers closing cost.

Your imagination, focus and hard work will all help you to get your property sold!