Here's a great article from Steve Harney, real estate guru extraordinaire, about where buyers START the home buying process. Sellers, take note: Less than 2% of buyers start their search in the newspapers or other print media.
Where are buyers starting their search? Mainly on the Internet (47%) or by contacting a real estate professional, either a real estate agent or a lender (27%).
Print advertising is EXPENSIVE, not to mention short-lived. My broker has reminded me many times that a newspaper ad is effective from about 7:00 a.m. to 6:00 p.m. on the day of publication. At about $100 an ad (minimum) in our local paper, that's a lot of money that could be otherwise allocated somewhere more effective.
So, what does this mean for a seller trying to sell their home in this very challenging market? Forget real estate guides, newspaper ads, and those uber-expensive specialty magazines. Make sure your agent has a strong Internet marketing plan. Get it in writing. And please, make sure they take great pictures and post the maximum number permitted by the local Multiple Listing Service ("MLS"). I'm constantly amazed at how many listings have only one or two exterior photos, and often terrible ones at that. Good luck!


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