Buyers and sellers now have immediate Internet and Multiple Listing (MLS) access to the world of real estate. The face of real estate has changed and this is just the beginning. When I started in real estate, the first thing I was taught was: "if you don't list, you won't last". That was sometimes true and sometimes not true. In the 1980's Buyer Brokers became very popular so the battle between listing agents and buyers' agents was somewhat equal. There is now a new game in town which I call "The Listing Agent Advantage," but it must be done right.
The biggest game in town now is different for a seller's agent. Fast on the heels of realtors is the For Sale by Owner (FSBO) sites like Zillow, FSBO, and others that keep on selling their opportunities. So, realtors hold on to your hats and blue jeans as FSBOs are a-coming. Let's look at why selling agents and FSBO sites are at the forefront.
MLS and FSBO sites can be seen immediately by thousands after posting on the internet which, in many ways, is good and in other cases not so good, but it is definitely the new, forceful way of the future. Remember other trades that are being replaced by internet, i.e., travel agents, bank tellers, banks without locations (ALLY), automatic check outs and many more. I feel you all can add countless more to the list. So, what's the new secret? Well, let's look!
I believe you will all agree the wording on MLS or FSBO listings is very critical to get the greatest amount of calls. Does anyone remember the saying, "we have only a short time to make a favorable first impression by using favorable listing words?" Long Wood University from Farmville, Va. has done a study that shows the more properly written remarks in a listing with the most verifiable information, the better. The report notes that a property with 15 additional characters may sell for roughly 13.5 percent price premium and 10 positive opinion words i.e., fabulous or beautiful or the like can boost price by as much as 0.9 percent per word. The study says this means 10 positive secret words could translate in a 9 percent bump.
You only have seconds to capture other agents or buyers attention. It's very critical how you use your first few words. Again, positive opinion words are the key to any listing. Sometimes less is more because giving them too much information will make them feel it's not necessary to call. Make sure less is full of positive, truthful words. The one thing about less is you want to tease the people to the point of calling you.
One Last Thing:
Remember, I said earlier, your listing can be seen immediately by thousands of people. Make it a good example that stands out, with truthful facts about fancy features and a touch of drama, some puffing is good, but don't go overboard. The right wording can make a property worth many more looks and likewise, more money.
Thought for Today:
There are two days in every week that should be free from worry and anxiety---yesterday and tomorrow.
I'd appreciate ideas on what you want me to write about as my goal is always to help everyone who reads my articles. Thank you in advance for your help.
If you have any further questions or ideas, please call me. My number is 928 533-4455.
Remember, my two favorite sayings: "Experience Isn't Expensive, It's Priceless!" and "Selling A Home Is Easy, Doing It Right Is The Key!"
Lee Amble, Realtor, Consultant
National Realty Of Prescott
Lee's Cell: 928 533-4455
Jan's Cell: 928 533-4488