Know why you are selling your home and keep it to yourself. The reasons behind your decision to sell affect everything from setting a price to deciding how much time and money to invest in getting your home ready for sale. What is more important to you? The money you walk away with, the length of time your property is on the market, or a combination of both? Different goals will dictate different selling strategies.

It is critical that you do not reveal your reasons to anyone else, because it could come back to haunt you at the negotiating table. When asked, simply explain that your housing needs have changed.

Don’t tell your friends, neighbors or work associates why you’re moving. If you do, assume that the information will get to the buyer.

Two years ago, I had a situation where a seller had told everyone that they were relocating and had to be out of town by the end of May. That seller even told neighbors what they needed out of the home. The seller wasn’t completely surprised when they got an offer for their minimal amount for a closing the end of May.

A couple weeks ago, I helped a buyer make an offer on a home. During my research I noticed that the seller of the home had posted on Facebook that they were getting anxious and were getting tired of cleaning their home up and showing. Guess what kind of advice I gave my buyer client?

That’s why it’s called “Social” Media. If you want the best results, keep your mouth shut.

Every month, I run across a looky loo buyer. They tell every seller and real estate agent what they want. They want to buy the perfect home and sell their home at “Top Dollar.” Unfortunately, the strategy they use in their pursuit of their dream home has many flaws and is destined for failure. I have seen it every month for over 22 years. If this sounds like you . . . lets talk. We prefer the systems approach vs. the shotgun approach.

Be sure to do your homework before setting a price. Settling on an listing price should not be done lightly. In a hot seller’s market, should you set your asking price too low, be prepared to receive offers over and above your asking price.

Pricing your house too high is the #1 mistake you can make.

Don’t blame the REALTOR for your mortgage balance. If you can’t sell your home for Fair Market Value, be prepared to stay, or let’s discuss a shortsale..

The average home buyer will view and compare dozens of homes on the Internet at the same time they are considering your home. This means that they have a basis of comparison, and if your home doesn’t compare favorably with others in the price range you have set, your home will sit on the market and prospective buyers will not take you seriously. The longer your home sits on the market, the more likely people will think that there is a problem with it.

Banks have changed their pricing strategy.

Last year banks would price the home and let it set for 4+ months. With periodic price reductions, they found that they were chasing the market. Now banks will price the home to generate multiple activity so that they they will sell for Top Dollar in 60 days.

If you’re behind on your mortgage and facing foreclosure your motivation to sell will be different than if you get the right price, you will sell, right? Know why you’re selling your home.

If you have your home priced like a Hollywood Mansion because that is what you need out of it, maybe you need to rethink your stratgy?

When establishing a price, work with your agent to find out what homes in your own and similar neighborhoods have sold for in the past three to six months. Don’t go beyond 6 months. Research what current homes on the market are listed at. It’s the same process that buyers will undertake when assessing the value of your home.

Make it simple for prospects to obtain information on your home. You would be surprised to know that some marketing tools that most agents use to sell house (such as traditional open houses) are generally not very effective.

In fact, only about one half of one percent of homes are sold at an open house.

So why do an Open House? Because your neighbors just might know somebody who’d like to live next door, or,

Today’s home buyers go to the Internet first. Your home must be found on the first page of Google on the following keyword: (your city) real estate. It will also help if your home is on a major brand real estate website, like RE/MAX. Other websites that buyers seem to use are Zillow, Trulia, Craigslist, Active Rain, Yahoo Real Estate and YouTube. Brochures are used by buyers to narrow down their choices not to create their “Top 5 List”.

Today’s home buyer wants to view your home on a full color website with extra widgets. Do you know what a widget is? No worries, we do!

If buyer’s can’t find your home, how will they be able to buy it?

Prospects calling for information on your home value their time as much as you do. The last thing they want to be subjected to is either a game of telephone tag with a REALTOR or unwanted sales pitches. Make sure the REALTOR you pick returns calls and is easy to communicate to. A REALTOR looking to obtain top value for your home will not turn the calls over to a newbie or an assistant.

We listed a home a couple of years ago that had been on the market with a high profile area real estate agent. The home seller was upset because they couldn’t get a hold of their agent. After 6 months they got frustrated. On a Saturday, they decided to call as a buyer interested in their home. Their call was returned on Tuesday by a newbie assistant who was more interested in selling a home she had listed. This turned off the seller. The seller listed with us and had 3 offers on their home within 2 weeks.

The home seller found out that the listing agent was required by the broker to turn over leads on their property to other agents. That is right; the agent who knew the most about their property, couldn’t sell it.

Remember, the more buyers you have competing for your home, the better. It will set up an
auction-like atmosphere that puts you in the driver’s seat.

 Is your REALTOR using up-to-date technology? Buyers respond to the latest and greatest technology. If you want your home to stand out, your REALTOR will need to use up-to-date technology. Up-to-date technology includes a virtual tour, mobile marketing, QR Codes, and so forth.

Is your REALTOR implementing a pre-marketing campaign? When a movie producer creates a multi-million dollar masterpiece, they don’t just release it to the movie theatres, right?

First you see commercials promoting the movie, then you’ll hear movie critics talking about the movie and then you might see bill boards and ads hyping the movie. Why would a movie producer need to spend all of this time pre-marketing a movie? Studies have shown that the first weekend is the most important weekend. If the first weekend is a dud, the movie flops. Have a good first weekend and the movie is a successful blockbuster. The same is true for real estate.

The first 3 weeks may be the most important. If there is very little activity the first 3 weeks, the home might sit on the market for months. Gets lots of activity the first 3 weeks and there is a probability that a bidding war starts, driving up the selling price.

Marketing your home is more like chess then darts. To often, REALTORS, start marketing a home with no plan. They’ll market a little here, do a little of this, then a little of that and a lot of praying. If this is what you think a successful REALTOR does, you have the wrong idea.

A successful marketing REALTOR has a real thought out plan on marketing.

Sure they’ll  put your home on MLS, but what else. If the marketing plan doesn’t include keywords, Google, Facebook, Twitter, Social Media, YouTube, Zillow, Trulia and Blogging, it is not an up-to-date marketing plan.