When Selling Your Home, Think Like a Marketer

Believe it or not, selling your home is really no different than selling a bottle of shampoo, a box of cereal or an automobile. So, when you go to put your home on the market, you need to approach it the same way as the people who are in charge of marketing those other products. Your real estate agent will be an invaluable resource in this regard, but to maximize your odds of success, it pays to take an active role in the marketing of this, your most valuable asset.

When you go to sell your home, the first thing you must realize is that it is NO LONGER YOUR HOME! It is a product for sale, and to be successful in selling it you have to employ the same kinds of strategies as you would to sell any other consumer product.

First, identify your target buyers and their needs and wants. Are you in a neighborhood that tends to attract young families, single professionals or empty nesters? Each of these groups is likely to want or need different things. Some of those needs are rational (space enough for a family of five, walking distance to the train, a good school district) and some are emotional (security, community, a certain lifestyle or a badge of success.). Remember that buyers may shop rationally with a list of features they need, but they buy the house that connects with them on an emotional level.

 Second, know your competition. What other listings are competing for the same buyer and what do those other houses offer? Think about both the rational features of the house and the emotional benefits it offers. How does it stack up to competitive listings? What are its strengths and weaknesses on the things that really matter to your target buyer? What are the unique and positive aspects of your home that can give it an edge over the competition?

 Third, “package” and “merchandise” your home to appeal to your target buyer and set it apart from your competition. Play up those points of superiority or uniqueness that you identified in step two. If you have been in your home for several years and your likely buyer is a young family, they are probably not going to appreciate some of the things that make this home for you. Instead, you need to think about what will make it feel like home to them. That means the wallpaper and those drapes with fussy swags and jabeaux will need to be replaced by a look from a Pottery Barn catalog. Show that young family how their children will enjoy playing in the large finished basement by staging it as a playroom and painting it a cheerful color. Stage the great room as a hip and comfortable hang-out where the family can watch TV together and play games. Show the couple how they can escape to their own private retreat by staging the master bedroom to look like a five star hotel.

 In this challenging real estate market, where the supply of houses for sale is greater than the number of buyers, having a house that’s clean and de-cluttered is not enough to get it sold. A seller must show target buyers how their house is a better value than the others on the market. This is accomplished by helping a buyer envision the lifestyle and emotional benefits that they can enjoy once they live in the house. A professional home stager has the training and experience to help you accomplish this. A stager can go through your home with you and provide you with a to do list if you want to do the work your self, or can provide hands-on staging services for a modest fee.