One thing we're all challenged with right now is the speed of the market — or how fast listings sell as soon as they hit the market.
When you listed a house in a traditional market, you would have 90 or 180 days of market time. During that market time you'd able to be able to put out just listed cards, call and farm neighborhoods, host multiple open houses, and receive sign calls from your marketing. And with all that marketing, you would be able to convert those interested people into more buyers and sellers.
So every listing could easily lead to five or six more opportunities for more buyers and sellers.
But today things have changed. Every time you put a house in the market, it's generally selling within a few days with multiple offers. So you're getting robbed of that extra marketing opportunity.
But you can change that by using what I call a Marketing Sequence.
A marketing sequence simply means that you have a strategy about how you launch a listing into the marketplace that benefits the seller and you. It's a true win-win.
A marketing sequence could look like this...
When you're sitting down with the seller on a Monday taking their listing, you simply explain this to the seller:
"Hey, listen, now that we've got the list property listed, what I'd like to do with you is launch the listing in the MLS system Thursday at 5:00 PM. Why Thursday at 5:00 PM? There's been a study done by Redfin, where they studied tens of thousands of sales across a decade. And they found that Thursday at 5:00 PM was the best time to launch a property in the market. That's when sellers get the most money. Now we'll see if it happens for your property. But since we're coming right into the weekend, it often creates a lot of synergy and energy around the market rather than listing that house on Monday or Tuesday."
So launching on Thursday at 5:00 PM is the best practice for all of us. And then, you can do some other things within your marketing remarks.
First, you're going to strategize your showings by allowing showings Saturday and Sunday only.
Now why should you do this?
You want to let the market absorb the listing, check it out, and schedule themselves into that showing. You're creating a sense of urgency so that people know that if they don't get in line, they may miss the opportunity.
Second, you're going to do an open house on Friday from 4-6 PM so people have time to get off work and come check out the property. Now anybody that's in line to see the property over the weekend may come in on Friday so they get that listing first.
That creates more synergy and energy in your open houses.
Then, you can say you'll review offers on Monday and respond to them on Tuesday.
So what does this do for you?
And that's how a Marketing Sequence around your next listing can take your business to the next level.
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