The next step is a marketing plan. Often, your agent can recommend
repairs or cosmetic work that will significantly enhance the salability
of the property. Marketing includes the exposure of your property
to other real estate agents and the public. In many markets across
the country, over 50% of real estate sales are cooperative sales;
that is, a real estate agent other than yours brings in the buyer.
Your agent acts as the marketing coordinator, disbursing information
about your property to other real estate agents through a Multiple
Listing Service or other cooperative marketing networks, open
houses for agents, etc.
Advertising is part of marketing. The choice of media and frequency
of advertising depends a lot on the property and specific market.
For example, in some areas, newspaper advertising generates phone
calls to the real estate office but statistically has minimum
effectiveness in selling a specific property. Overexposure of
a property in any media may give a buyer the impression the property
is distressed or the seller is desperate. Your real estate agent
will know when, where and how to advertise your property.
There is a misconception that advertising sells real estate.
The National Association of REALTORS® studies show that 82%
of real estate sales are the result of agent contacts through
previous clients, referrals, friends and family, and personal