PHOENIX--(BUSINESS WIRE)--Real Estate Maverick Greg Hague, a 35-year real estate broker, attorney, bestselling author and national columnist, is leading the march against an antiquated multiple listing service (MLS) rule in Seattle that prohibits real estate agents—except big-name celebrities—from pre-marketing a home before it is listed on the Northwest MLS.
Hague called for the change in his recent Huffington Post column, “Selling Your Home? Beware an Outdated Rule That Could Hurt Your Sale Price,” and in an article for SeattleBusinessMag.com, “Celebrities Have an Exemption on the Northwest Listing Service That All Home Sellers Should Enjoy.” The latter column was penned by Steve Kosylo, a Tacoma, Washington-based real estate broker who has recently embraced Hague’s new 22-step methodology to increase home sale prices by as much as 8 percent through advanced forms of pre-marketing.
“It's time for the MLS to wake-up in Seattle,” Kosylo concluded in his post. “If pre-marketing to build anticipation and excitement in advance is good for Apple, Microsoft, Amazon, Tesla, Ford, etc., it’s good for the home seller… all home sellers, not just the celebrities.”
The Seattle MLS rule states, “Members shall not promote or advertise any property in any manner whatsoever, including, but not limited to yard or other signs, flyers, websites, e-mails, texts, mailers, magazines, newspapers, open houses, previews, showings, and tours, unless a listing for that property has been delivered to NWMLS, or input by the member.” Punishment for violating this rule include fines of up to $5,000 or expulsion from the MLS.
According to Hague, “Every other MLS in the United States allows agents to use modern pre-marketing strategies to build buyer demand before homes are placed in the MLS, provided the sellers consent. As Hague wrote, and Kosylo quoted in his SeattleBusinessMag.com post, “The benefits of pre-MLS marketing are huge. The downside is nil. Sellers dramatically increase the probability of achieving a higher price and a faster sale. Agents gain the chance to earn their commission in weeks instead of months.”
Both Hague and Kosylo tout many reasons why pre-marketing a home results in faster sales at higher prices, including:
- Getting buyers excited before they are allowed inside to make their first offer higher
- Generating “social proof” that lets potential buyers see other buyers touring the home
- Creating an aura of scarcity and “fear of loss” to make buyers act quickly
- Putting buyers in a “higher price frame of mind” because they feel privileged to see a home before it’s officially on the market.
- Allowing home sellers to privately test price before committing to a MLS price, then possibly having to reduce that price, making buyers see “desperation in the water.”
Pre-marketing also allows agents to market homes without buyers seeing in MLS how many days the home has been on the market. The more days on the market, the less a home buyer is usually willing to pay, fearing the home might be overpriced or undesirable.
Hague says he is “on a mission to bring the powerful marketing strategies used by Apple and Tesla into the home selling process and overturn antiquated MLS rules that cost America’s homes sellers thousands in lower sale prices every day.”
About Real Estate Mavericks
American businessman and real estate expert, Greg Hague, founder of Real Estate Mavericks, is building a network of home selling specialists throughout the U.S., Australia, Puerto Rico and Canada,. These agents use Hague’s 22-Step Home Launch Formula to sell homes faster, at higher prices. To interview to become part of Hague’s elite team of certified home selling specialists visit www.RealEstateMavericks.com or call 480-998-9900.