As a home seller, you and your real estate agent have a lot of tools available to attract the attention of potential home buyers. Here are some of the most commonly used methods for advertising property listings and expert insight into their effectiveness.

• Multiple Listing Service

The Multiple Listing Service is one of the most effective marketing tools you can use when selling your home. An MLS is a private database that allows real estate brokers who are representing home sellers to share information about property listings with real estate brokers who represent home buyers. Most buyers' agents rely primarily on the MLS when looking for homes for their customers.

The only way to market your home through the MLS is by listing with a real estate agent who is a member of the local MLS.

Compensation to the selling agent is offered on all homes in the MLS. While the percentage may vary, it is typically around three percent. Make sure your agent specifies in writing how much of the commission you pay will be offered through the MLS to the selling agent. Don't be fooled by an agent who offers to lower their commission-oftentimes to keep you from choosing a discount broker-and then offers less than the customary rate in the MLS.

• Yard Signs

Home buyers tend to drive through the neighborhoods they are interested in so yard signs can easily attract their attention. Also, people who live in your neighborhood may have friends who have expressed an interest in the area. Always allow your agent to put a "For Sale!" sign in your yard.

Avoid "sign riders" that say "By Appointment Only!" All showings are by appointment so you don't need to spell it out on the sign. Besides, it sounds uninviting. Also, make it easy for your home to be shown. Allow a lockbox to be placed on your home so other agents can show it to potential buyers quickly and easily.

• Internet

Most home buyers today start their search on the Internet. The current trend is for the buyer to search through a search engine like Google or Yahoo as opposed to going to specific real estate sites.

Ask your real agent where your home will be marketed on the Internet. If your home is in the MLS, it will automatically be posted on REALTOR.com®. Make sure the policy of the brokerage you are listed with is to share their listings with all of the major Web sites. Surprisingly, there are some brokerages that refuse to allow their listings on other sites. They are trying to increase the odds that they will sell your home themselves. This is good for them but typically there is no corresponding benefit extended to you, such as a savings on the commission.

• Open Houses

Most agents will tell you open houses don't work because they don't want to spend their time doing them. Open houses do work. If they didn't, why would builders of new subdivisions construct model homes and have them open every day?

In the listing contract, have your agent commit to a certain number of open houses. Shoot for twice per month at 3-4 hours in duration.

Discount real estate companies typically allow sellers to conduct their own open houses. This is great. They are easy to do and the savings on commission makes up for the small amount of effort on the home seller's part.

• Word of Mouth

Make sure you tell your friends, family and co-workers that you are selling your home. You never know who may be looking to move.

• Print Advertising

Newspaper and magazine ads can be effective but not when you consider their high costs. That's why many real estate brokerages have discontinued this type of advertising. If the brokerage has a good Web site and a good Internet marketing plan, you shouldn't worry about this type of advertising.

• Direct Mail

Many real estate agents will mail "Just Listed" post cards around your neighborhood. Understand that the motivation of the agent isn't to sell your home as much as it is to advertise themselves as the "neighborhood specialist."

• Agent Open House

Sometimes called "brokers caravan" or "agent tours," agent open houses are typically held to impress the home seller. In reality, they aren't very effective for exposing the home to buyers. Agents working with buyers will be out previewing new listings well in advance of any scheduled tour.

Industry professionals agree, the Internet, the Multiple Listing Service and yard signs are the most effective marketing tools for home sellers. But don't forget the importance of properly pricing your home. No amount of marketing can overcome an overpriced home.

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