A Letter From Robert Reffkin: Win More Listings With Compass’ New 3-Phased Marketing Strategy
Robert Reffkin
Agents,
At Compass, we’re working with our agents and their clients to create a company that better serves homeowners and protects and maximizes the value of their homes. For years, the traditional way of selling a home has been part of a system that puts sellers at a disadvantage. The most well-known real estate websites have built their business models at the expense of homeowners by showing negative insights on their listings, such as days on market, public price drops, and home value estimates. There is a negative relationship between days on market and helping secure the best offer for a homeowner. Days on market is the killer of value.
Today, I’m proud to announce the launch of our new 3-Phased Marketing Strategy, available only on Compass (click here to view the website), giving homeowners the same advantages that real estate developers and professional homebuilders have had for years. The National Association of Realtor’s Clear Cooperation Policy has a carveout for real estate developers and professional homebuilders, allowing them to pre-market off MLS (and they sold hundreds of thousands of homes off the MLS last year to protect their listings from the risk of MLS exposure). This advanced 3-Phased Marketing Strategy approach allows you to start working for your client well ahead of traditional timelines, giving your listing maximum exposure, while you carefully manage its marketing presence and extend its marketing runway so they get the best return when they sell it. Your Home. Your Choice.
Real estate developers and professional homebuilders use a phased marketing approach so that they can:
Eliminate Days on Market & Price Drop History Risk: They extend their marketing runway by controlling when the property is put on the MLS, helping them minimize public days on market or price drop history. Excessive days on market and price-drop history can devalue their properties in the eyes of buyers.
Ensure Their Listing Agent Receives All Listing Inquiries: They put the property on their website first, so all inbound buyer inquiries go directly to their listing agent, who knows the home best and, therefore, can serve the seller better.
Test Aspirational Pricing: They test an aspirational price or validate a pricing strategy privately before listing on the MLS.
Harness the Power of Pre-Marketing: They pre-market while staging and preparing the home to create interest and anticipation before it’s ready to launch.
Learn From the Insights: They learn from the data and analytics they get from their websites, including property page views, visits, and engagement insights.
Protect and Control Their Data: They control which websites their photos, address and data appear on to protect their data.
At Compass, we believe that your clients should be able to sell their home on their terms, with control over how it’s marketed and how their data is being used. The 3-Phased Marketing Strategy gives them that power of choice, while enabling you to protect and promote their home’s value.
The New 3-Phased Marketing Strategy
Phase 1: Compass Private Exclusives - Just like many companies test a product with a smaller audience before launch, listing a home as a Private Exclusive first allows homeowners to fine-tune its presentation before going public and extend their marketing runway. During this phase, you and your home seller will:
Privately soft launch your listing to a nationwide network of 33,000 top agents and their millions of clients.
Generate buyer interest without accumulating days on market or damaging public price drops.
React to feedback from professional, full-time agents on your price and positioning so that you can build the most buyer demand.
Phase 2: Compass Coming Soon - Publicly launch your listing on Compass.com, exposing it to a wider audience without showing days on market or price drop history. Signal to the market that increased competition for the listing will be coming soon when it’s launched on all other platforms. During this phase you and your home seller will:
Receive key engagement insights about how buyers and buyers’ agents are viewing, commenting and sharing your listings on Compass.com – data that is normally never shared with you from other websites, through Compass’ Reverse Prospecting tool.
Have more control over how data is shared, including photos and personal information. On other platforms, it’s nearly impossible to know where data is going or how it’s being used. On Compass.com you’re in control and can more easily remove listing photos and personal information from the internet after the home has sold.
Phase 3: Go Live on All Platforms - At this stage, the home is launched on the MLS and public portal sites. This will make the listing visible to a broader audience, accrue days on market, and provide a visible price drop history.
Best,
Robert Reffkin
Founder and CEO, Compass
Ready to unlock your full potential? Contact a Compass representative today and discover how our technology can empower your success.
Compass does not recommend one particular strategy or guarantee of results.*
Featuring
Robert Reffkin
Founder and CEO
