Marketing Your Home to Vancouver Buyers
If your Vancouver real estate agent does not have a plan for marketing your property, the chances are you have the wrong agent. In a buyer’s market, agents intuitively know they must put more resources into marketing their listings. In a seller’s market, many agents tend to cut back on marketing resources.
However, in a seller’s market (which means more active buyers than properties available), a solid marketing program can generate multiple offers. Often, sellers receive a price far exceeding the asking price.
Experienced, high-performing agents continually employ solid marketing tactics as a normal part of conducting business, regardless of the real estate environment.
A solid marketing plan assures a constant flow of home buyers wanting to tour your property.
Below are several proven marketing tactics an agent can use to sell your home:
Photographs: many buyers search for properties online. Buyers like photographs — and lots of them. A listing accompanied by multiple detailed photographs of the property often spells out the difference between enticing buyers to pick up the phone to call their agent to schedule a showing versus their moving on to properties offering less but with better photographs.
Follow the steps listed below to help your photographs stand out from the competition:
◾Complete repairs and improvements before photographing the home
◾Remove vehicles from the front of the home and driveway
◾Do not photograph the house on a cloudy day or with shade obstructing parts of the house
◾Crop streets and sidewalks out of the photograph
If you are selling a condominium or town home that does not have a yard, include pictures of the pool, spa area, fitness room, tennis court, or clubhouse. If your home does have a yard, take pictures of it. Before you start shooting, clear away toys, remove evidence of pets, mow the lawn, and trim the bushes. Take long shots of the yard area.
Photograph every room in the home — even if you believe the space will not show well. You might always shoot a usable image. Turn on the lights and open drapery, blinds, and other window treatments to allow sunshine to flood the space.
When photographing a bathroom, put way the trash can, close toilet lids, and arrange the towels. Brighten up the kitchen and dining room area photographs by strategically placing floral arrangements in the room.
Each photograph should have a primary focal point — an interesting feature or unique detail that embellishes the room. This could include a hardwood floor, a stunning chandelier, or a decorative fireplace mantel.
Real Estate Signs: Think of real estate sign as free advertising. Check your homeowners’ association or strata council rules regarding the placement of signs. Many home buyers call the number to schedule an immediate showing of your home — a good indication that your home has a strong “appeal” to the potential buyer.
Virtual Tours: One of the most attractive tools for selling your home is a virtual tour.
A high-quality virtual tour leads buyers by the hand through every space in the home, providing them with a 360° view. It could also include features such as music or scripts along with the tour. Some virtual tour setups allow buyers to download or print individual photos.
Open Houses: Determine the suitability of your home to an open house. Usually, signs placed throughout your Vancouver neighbourhood direct buyers to your home. Your agent might also send out invitation to a network of other Vancouver real estate agents or advertise in local newspapers or online. Invite your neighbours to the open house.
Print Advertising: Many home buyers still search Vancouver’s local and neighbourhood newspapers when searching for a home — especially Sunday editions. Numerous real estate-related publications and newsletters also feature residential real estate listings in the Vancouver area.
Direct Mail: This marketing technique employs inexpensive, oversize, four-color postcards to capture the attention of prospective buyers. A campaign can focus on mailing flyers to your neighbours. You will be surprised how many people have relatives who want to move nearby. Another technique markets to agents in other locations to attract buyers looking to relocate to the Vancouver area.
Selling Your Home in Prevailing Market Conditions
In a hot seller’s market, finding prospective buyers does not present as much of a challenge. However, once the market leans in favour of buyers, quality marketing is worth its weight in gold. Your method of marketing — whether an open house, photographs, or virtual tours — must consistently display the qualities that make the home attractive to potential buyers.
Once the market cools down and listing inventories start to trend up, you might want to offer incentives to entice buyers into making a purchase offer, such as crediting a specific dollar amount to the buyer’s closing, paying condo association fees for six months, or providing a buyer protection warranty for the first year.
In addition, remove any undue restrictions that make it difficult for your agent to show the home, such as the absence of a lockbox on a vacant property, restrictions on the showing hours, or insistence on a 48-hour notice.