Many real estate agents will tell you the key to selling a home is providing the maximum possible exposure for your property. This usually translates into posting information about your home to multiple real estate advertising sites such as Zillow, Trulia or Realtor.Com.
For you home to appear on Trulia or Realtor.Com, your need to hire a real estate professional to list and market your home. But not so on Zillow, the self-advertised leading real estate marketplace, which now attracts more than a million users a day.
Anyone can list their own home for sale and take advantage of that massive exposure. In fact, here’s the link to list your own home on Zillow free of charge:
And here’s the link for craigslist:
With a bare minimum of information needed and a small investment of time, your home can join all of the other properties visible on Zillow and conceivably be viewed by some of those 1,000,000 users per day.
Now, there are caveats … there’s no such thing as the perfect deal, after all.
- While your home is being advertised to the masses, it won’t be marketed to the 20,000-plus real estate professionals here in the Phoenix real estate market. When we search for properties for our clients we rely on the Arizona Regional MLS and not third-party sites such as Trulia, Zillow and Realtor.Com where the timeliness and accuracy of the data tends to be somewhat questionable.
- While buyers working with a real estate agent may find your home on Zillow and send the information to their agent for review, most real estate agents already have automated searches for their clients and often will see what’s available long before it appears in Zillow. A listing on Zillow is much like a For Sale by Owner sign in your front yard – if someone drives by, terrific. But you’re missing the single greatest source of ready, willing and able buyers for your home – the local real estate agent population.
- You’ll want to monitor your home carefully. Zillow attaches its Zestimate to all homes listed for sale and this number could be well below both market value and your list price. These Zestimates are updated often, though in the Phoenix area they remain accurate within 10 percent of a home’s value barely more than 50 percent of the time.
The truth of the matter is “maximum exposure” is far less effective in selling a home than targeted exposure toward the sources of ready, willing and able buyers.
Having 1,000,000 people a day visit a website doesn’t mean a thing if 1,000,000 people aren’t looking for a home like yours; you don’t need daydreamers, you don’t need fellow sellers checking imaginary home values, you don’t need listings junkies and you don’t need people looking at photos for decorating ideas (all of whom are represented in those 1,000,000 visits a day.)
But, still, feel free to give self-syndication a try. And if you find that it’s not quite enough to get your home sold, or if you find yourself meeting with a real estate agent whose marketing strategy relies heavily on the mythology of syndication, call me at 602-502-9693 and we can talk more about what steps we can take together to get your home sold and help you get on with your life.