Wait…WHAT?

Today I read an interesting article on "The 8 Tips for Pricing Your Home in a Buyer's Market". I personally think TIPS in this case stands for sTockpiling Inventory from Piss-poor Sales, but that's just me.

Now I want you to remember the typical suggestions for selling your property when the housing market was hot:
1. Reduce the price for a quick sale.
2. Know the prices in your area. (Comps)
3. Ask the professionals.
4. Check out the market you plan to buy in.

And what did the article suggest for 4 of the 8 "tips" when selling your house in a DOWN market?
1. Reduce the price for a quick sale.
2. Know the prices in your area.
3. Ask the professionals.
4. Check out the market you plan to buy in.

It's amazing! They're exactly the same! Turns out the diatribe spewed by those pretending to be 'in the know' about real estate applies regardless of market conditions!

So armed with this information, I turned to my friend, client, and real estate marketing expert, Rachel Young of Big Cheese Marketing to see what her suggestions were for selling a house in a down market (I mean hey, it's what she does). Rachel says,

1. Find your ideal buyer. Contrary to popular belief, not everyone wants to buy your house. My mentor says, "If everyone's your customer, no one's your customer" and in this case, customer = buyer. Know exactly what they look like, their income level, job status, everything you can and bombard them with marketing pieces until they tell you to go to hell or that they're interested.
   

2. Don't become a 'mailbox'. You know how when you drive through a neighborhood that you don't really notice the mailboxes? It's because they're so common. Once you put your "For Sale" sign up, regardless of whether it's a realtor sign (which are handy to have in your arsenal) or a FSBO, move it each week so that your sign doesn't become just another 'mailbox' to the casual eye. Often times your buyer will come from a referral in the neighborhood and if they stop 'seeing' your sign, the chances of them telling someone about you become slim.
   

3. Don't be afraid to spend money. A lot of online marketing is worth exactly what you pay for it nowadays (Craigslist, Myspace, Facebook, eBay) and you'll wind up on page 10 within 5 minutes of posting your ad! Get in front of that buyer you described in my first point and hammer them from all sides. They shouldn't be able to close their eyes at night without thinking about your property.
   

4. WIIFM. It's said that our nation listens to the most popular radio station in the country (no, not your show, Jim. That comes second.) It's WIIFM – What's In It For Me. Give the buyer an experience they can't just walk away from. Sell them on the bathrooms and kitchens (ladies make most of the buying decisions and those are the two main rooms that affect those decisions!) and paint a picture of the property with your words. Describe how the carpet feels on their bare feet in the morning when they wake up in the new Master Suite. How does the resurfaced dining room hardwood reflect the kitchen table that holds their entire family for the first meal you've had together in ages?
   

Thanks to these tips from Rachel, in conjunction with the training you're getting next week at my FREE Real Estate Lifestyle Training Events (be there or don't blame me!) you'll find yourself selling property faster than you can buy it…and in this market, that's BIG money in the bank!