 THE
MULTIPLE LISTING SERVICE
Even before the sign is up and the brochures are ready, your agent
should list your property with the local MLS (Multiple Listing Service).
The MLS is a database of all the homes listed by local real estate
agents who are members of the service, which is practically all
of the local agents.
Important information about your property is listed here, from
general data such as square footage and number of rooms, to such
details as whether you have central air conditioning or hard wood
flooring. There should also be a photo, and a short verbal description
of what makes your house "special."
Agents search the database for homes that fit the price range and
needs of their clients. They pay special attention to homes that
have been recently placed on the market, which is one reason you
get a lot of attention when your house is first listed. Many agents
will want to preview the home before they show it to their clients.
The main point about having your house listed in the MLS is that
you expand your sales force by the number of local MLS members.
Instead of having just one agent working for you, now you may have
hundreds or more, depending on the size of your community.
The listing agent’s main job to make sure that the other
MLS members know about your house. This is accomplished through
listing your house in the Multiple Listing Service, broker previews
and advertising targeted toward other agents, not homebuyers.
OFFICE
PREVIEW
If your listing agent belongs to a fairly sizable office, an "office
preview" will introduce your house to other agents working
in the same office. In effect, they get a "head start"
on selling your property. Once a week, the office’s agents
will get together, share vehicles, and "caravan" to all
of the new listings. They generally pull up in front of your house
at about the same time (some even use a bus) then file quickly through
your home like some bizarre "follow the leader" game.
It can be amazing to watch.
They go through very quickly, since most of them are familiar with
similar models of your house. They are usually looking for anything
memorable or different and to determine if your house is one they
would be proud to show their clients. Then they all pile back into
their cars and move on to the next house on the tour.
But some of them come back with buyers.
BROKER
PREVIEW
Broker preview is very similar to an office preview, except it
is open to all the members of the local multiple listing service.
It usually occurs within the first week your house is placed on
the market, just after the office preview. However, there are lots
of new listings to choose from, and not all the agents preview all
the new listings each week. You may not get as many agents visiting
your home as there were on the office preview.
Unless your agent "entices" them to come. This is where
you could provide some help, if you are so inclined.
Though it may seem funny, nothing seems to attract a real estate
agent like the offer of free food. So if your agent offers "free
eats" at a broker preview, you are likely to get more visitors
than if nothing is offered. Realize that many agents have been on
this weekly circuit for years, so "boring" food does not
really accomplish much. In other words, sandwiches supplied from
the local grocery chain are not very interesting.
If you want to help your agent sell your home quickly, try and
help them be creative and original in the choice of a culinary treat.
Of course, some agents will actually come to look at your house,
too – whether food is offered or not.
Maybe.
OFFICE
FLYERS
Your agent will undoubtedly prepare flyers about your property
so that prospective homebuyers can be informed about the attractive
features of your house. These flyers (or similar ones) should also
be sent to all the local real estate offices, too. Most areas have
a weekly flyer service that delivers advertisements to all of the
local offices. Since agents get these flyers every week, they do
not always look at them. However, a large percentage of them do.
Some agents will keep the flyer and bring buyers to your house.
The flyer should be done professionally and photocopy well. Ask
your agent to show you copies of office flyers they have done in
the past.
Association Marketing Sessions:
Your agent probably belongs to a local association of Realtors
and they often have meetings once a month. At these meetings there
is often a "marketing session" where some agents stand
up and tell about their listings and other agents stand up and tell
about their buyers. Your listing agent has an opportunity to "pitch"
your house at these marketing sessions.
At the same time, these sessions may not be as effective as they
were in the past. One reason is that they are often more social
occasions than serious business meetings. Another reason is that,
as technology has expanded, local associations have tended to merge
and create larger Multiple Listing Services and Associations. Local
meetings have become poorly attended gatherings. Often the most
professional agents do not even attend.
All articles © 2000 RealEstate ABC
No articles may be reprinted or displayed without permission.
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