It’s tough to figure out how and when you can get the best price for your online real estate listing. Selling your home or property is uncharted territory for many, and you don’t want to feel you missed out on an opportunity because of poor real estate marketing strategies. At RE/MAX Auction House, our team of experienced real estate professionals has a strategy for success to work toward the best outcomes for our sellers.
While this is a complex process that takes a lot of time and strategic planning, there is a basic formula we believe in:
Visibility + Accessibility = Competitive Bidding
Competitive bidding is what we aim for to get the best price for your online real estate listing. Using methods that foster high visibility and accessibility, we use unique real estate marketing strategies and tools to create competitive bidding between buyers. Below we explain how we use this strategy in detail.
Establishing and Building Visibility
A key component of good real estate marketing strategies is creating high visibility for your listing. This means getting it in front of as many potential buyers as possible. RE/MAX Auction House uses traditional real estate tools and unique online auction techniques to create a tailored marketing strategy for your listing.
Multiple Listing System (MLS)
If you’re an agent or a broker, you’re well aware of the benefits of a multiple listing system. An MLS is essential in ensuring that your real estate listing has online visibility on as many real estate platforms as possible.
With the tools we use at RE/MAX Auction House, we also have the power of RE/MAX’s existing system. RE/MAX’s syndication technology is the most advanced in the industry. It ensures that your listing is posted to all the major online listing platforms so you don’t miss out on potential buyers looking online.
Related: “Where Are the Best Places To Market My Home?”
Strategic paid advertising
Strategic is the key word here for this real estate marketing tool. There are countless options for paid advertising, but not all of them have the same value for the same properties. We can run paid advertising campaigns through Facebook, YouTube, paid search (e.g. Google), and other platforms.
These platforms can be helpful since you can use specific traits to target audiences that would be most interested in your listing, like geographic location, age range, and more. This ensures you advertise to a market that fits with the online listing.
Related: How to Create a Property-Specific Marketing Strategy
Depending on your individual listing, certain paid advertising platforms may work better than others to gain visibility. Putting money into paid advertising needs to be strategic; it won’t work well if your target market does not see your advertisement. This all depends on your tailored marketing strategy and what will work best for your listing.
At RE/MAX Auction House, our years of experience as real estate professionals give us the insight you need to create a paid advertising strategy that improves visibility for serious potential buyers.
Established selling timeline
An important part of visibility and staying top-of-mind to buyers is our established selling timelines. When RE/MAX Auction House has an online listing, we establish a selling timeline for many reasons.
First, it gives the seller peace of mind of knowing when their listing will sell. The second benefit is that a fixed timeline creates a sense of urgency for buyers, since they can only bid for the property during a certain window of time.
The visible timeline can increase the listing’s potential marketable property value through creating timely motivation for buyers to bid. Multiple buyers means more bidding competition, which increases the price of the listing.
Bid transparency
Another large difference in visibility between traditional real estate and online auction is bid transparency. This essentially means that buyers know exactly how much other buyers are bidding. This gives them a sense of control while also helping them feel more empowered to continue bidding and being a part of the competition. In turn, this can also increase and help sellers get the best price for the listing.
Creating Accessibility
Besides visibility through MLS, strategic paid advertising, selling timelines, and bid transparency, accessibility also plays a large role in creating bidding competition to get the best selling price. We believe accessibility, meaning making the process simple and straightforward for others, is the other key component of great outcomes for sellers (and buyers!).
Easy online accessibility
We all know that the world has moved to online business in every industry. It’s simple, and more approachable than ever for many people to find real estate listings they love. What’s more is that online real estate listings can have high-quality images and videos to really give the potential buyer a lot of details about the space that they can view again and again.
Less need for in-person showings is a huge plus for both buyers and sellers. Buyers may not want to spend their time entering the homes of others and relying on memory to recall the details about the home before they bid. Sellers don’t have to schedule their life and the state of their home around many in-person tours.
Both buyers and sellers can feel more of a sense of control and accessibility through online listings. Buyers can virtually tour the property and come back to the listing as needed to feel assured before bidding, while sellers can rest easy knowing that their home’s details are readily available for buyers.
Automated bid management
Another perk that promotes accessibility is an automated bid management system for online auctions.
With traditional real estate, it can be tough for an agent to manage multiple offers and communicate with a lot of potential buyers. As a seller, it’s difficult to feel you know when you’ve gotten the best offer. Another frustrating experience is managing lowball offers from buyers that do not know the level of competition. Without an established selling timeline, this process could take a long time for sellers to find an offer they’re happy with.
With RE/MAX Auction House’s fixed auction timeline, transparent bidding process, and automated bid management, we take the guesswork out for you. If a bid is higher than another bid, it wins the auction. If an even higher bid comes in before the auction timeline ends, it will accept that one. Remember, an important part of this process for buyers is bid transparency. The more insight buyers have into how competitive their bid is, the more likely you’ll receive multiple significant offers.
There can be a lot of movement during the final time window of the auction, which can foster even more bidding competition to get you the best selling price. The auction management handles this influx in bids seamlessly for a streamlined, low-stress process.
Encouraging Competitive Bidding for the Best Price
In summary, here is how we use real estate marketing strategies and tools to help get you the best price for your listing.
Visibility
- Listing on all online platforms
- Strategic paid advertising
- Establishing a fixed selling timeline
- Bid transparency
Accessibility
- Online access
- Automated bid management
Increased bidding competition is never a bad thing for sellers. It’s natural for bid competition to increase among buyers because of the fixed timeline to bid, bid transparency among other buyers, and increased confidence in their own bid. With bidding insight, buyers will know when their offer stands a chance for winning the sale, and they can adjust in accordance with other bids in the running.
All of this culminates in the best selling price for the listing, plus a happy buyer and seller.
Meet RE/MAX Auction House
Rooted in the Kansas and Missouri real estate industry, we’re proudly associated with RE/MAX after years of working together. In that time, we’ve gained an expert understanding of each listing’s potential.
RE/MAX Auction House believes we can make buying and selling property more straightforward for everyone. By creating a simplified experience for buyers and sellers, we’re advancing the real estate industry through a modern online auction process.
Choose RE/MAX Auction House for the best real estate marketing strategies for online auction 🏡
RE/MAX Auction House in Kansas City is a team of full time real estate professionals. With over 40 years of combined experience, we use our expertise, industry knowledge, and passion for real estate to help you buy or sell your home. Though we still offer traditional real estate services for clients, we always work to spread knowledge about the benefits of online auction. We take a personalized approach to both types of buying and selling for our clients.
Get a complimentary property assessment from one of our team members today for a comparative market analysis. If you have any questions about our real estate marketing strategies or anything else we do, call us today at 816.741.0123.