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Home owners thinking of selling often times will list their home
with the Realtor who does the most advertising. Sellers want to
see their property advertised in newspaper, real estate books or
on the internet. There is a misconception by the public that
advertising will sell your home.
We Realtors are usually happy to take your listing and advertise
your property. But not for the reason you would suspect. Most of
the advertising we do helps us find buyers and sellers to work
with.
The main purpose of advertising is not to directly sell your
home. If you have been selling homes for a long period of time
you know that a small percentage of people buy the home they
originally called on.
Let's say I am advertising my clients home which is a 3
bedrooms, 2 bath golf course home for $450,000. I will take
calls from prospective buyers who ask me about the home. I will
give them the details of the home and hopefully they will buy
it. However, this does not happen often and history shows that
people rarely buy the home they originally called on. So at this
point I try to tell them about other homes that may fit their
needs. If they decide to work with me I will then hopefully sell
them another home that I have found through the multiple listing
service (MLS) or some other means.
Now, let's say another Realtor is advertising his own listing
which is similar to my $450,000, 3 bedroom, 2 bath golf course
home for sale. He takes calls from his advertising efforts and
does not sell his own listing. However, he has now found a buyer
and goes to the Multiple Listing Service (MLS). The agent finds
my listing, shows it and sells it. My sellers home has
indirectly been sold by another agents advertising.
So, in essence, advertising creates phone calls and some of
these callers become my clients. With enough advertising I can
build up a pool of potential buyers. Now imagine all of the
other agents and brokers in my market doing the same thing. This
is the pool of buyers in the marketplace that are represented by
a Realtor. The agents get together and match up their clients
with the available homes for sale usually via the MLS system.
That is how your home gets sold.
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