Kim Novak’s Utah Real Estate Blog » Blog Archive » A Marketing Strategy That Works … Step 5

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Jan

A Marketing Strategy That Works … Step 5

Posted by Kim Novak under For Sellers, Listings, Layton

Step 1 … “Admit that it is a Buyer’s Market”

Step 2 … “Price Your Home to Sell and Plan on Negotiating”

Step 3 … “Target Realtors® Working with Ready, Willing and Able Buyers”

Step 4 … “Make Waves and Just Say No to the Status Quo”

Step 5 … “An Incentive for Everyone a.k.a. Show Me The Money”

The fifth and final component of the Marketing Strategy That Works are incentives. This segment is short, sweet and to the point.

1. Buyer … I offer a cash bonus to the buyer at closing, ranging from $250 to $2,000, depending on the price of the home.

Who is eligible:

~ Unrepresented buyers on the purchase of one of my listings.

~ Buyers who becomes my clients after I show them one of my listings.

~ My buyer clients who are Active Duty Military PCSing to Utah.

Who is not eligible:

~ Buyers represented by another real estate agent.

~ Buyers where a referral fee is due to another brokerage.

~ Buyers where a referral fee is due to a relocation company.

Ok, you’re probably thinking, “so what does a buyer who DOES have an agent get?” Well, they should expect aggressive representation, by a professional buyer’s agent, that dang sure better be negotiating to put their client in an equity position that exceeds $250 to $2,000.

2. Buyer’s Agent … From my standard commission program, I alter my “split” in the MLS from 50/50 to 55/45 in order to offer a bonus to the buyer’s agent. I do this at no additional charge to the the seller and with no strings attached for the buyer’s agent (NO: “offers received by or closed by x,y,z dates,” “full price offers only,” etc.).

3. Seller … Since my standard commission program includes a discount for the seller if another agent is not involved in the transaction, the seller saves on the real estate commission if a buyer takes advantage of the buyer bonus program noted in (1) above. I rarely enter into limited agency transactions, so the seller continues to receive my undivided representation from negotiation to closing.

4. Seller’s Agent (that’s me) … I discount my brokerage’s total commission 17% if another agent is not involved in the transaction. My compensation is reduced by 1/3, but I still manage both sides of the home sale - buyer and seller.

The Seller’s best interests, as my client, are at the heart of my Sales & Marketing Plan. Although I am obligated to treat other agent’s buyers or unrepresented buyers with honesty, fair dealing and good faith, my fiduciary responsibilities are to the seller. As an entrusted advisor to my clients, I assist them with achieving their real estate goals through professional representation, aggressive negotiation and protection of their equity & other financial interests. At the core of my relationship with my clients are my fiduciary responsibilities of Loyalty, Obedience, Disclosure, Confidentiality, Reasonable Care & Diligence, and Accounting.

• Loyalty: To act at all times in the best interest of my clients and to put those interests above all others, including myself.
• Obedience: To obey promptly all lawful instructions of my clients.
• Disclosure: To disclose all known, relevant facts to my clients.
• Confidentiality: To safeguard my clients’ secrets, unless keeping the confidence would violate disclosure requirements about the property’s condition.
• Reasonable care and diligence: To diligently use real estate skills and knowledge when pursing my clients’ affairs.
• Accounting: To account for all funds and property entrusted by my clients. As an entrusted advisor to my clients, I assist them with achieving their real estate goals through professional representation, aggressive negotiation and protection of their equity & other financial interests. At the core of my relationship with my clients are my fiduciary responsibilities of Loyalty, Obedience, Disclosure, Confidentiality, Reasonable Care & Diligence, and Accounting.
• Loyalty: To act at all times in the best interest of my clients and to put those interests above all others, including myself.
• Obedience: To obey promptly all lawful instructions of my clients.
• Disclosure: To disclose all known, relevant facts to my clients.
• Confidentiality: To safeguard my clients’ secrets, unless keeping the confidence would violate disclosure requirements about the property’s condition.
• Reasonable care and diligence: To diligently use real estate skills and knowledge when pursing my clients’ affairs.
• Accounting: To account for all funds and property entrusted by my clients.

Please contact me if you’d like a personalized Sales & Marketing Proposal for selling your home in today’s challenging real estate market.