Increase exposure while stretching advertising
dollars.
Most brokers are under the misconception that
advertising to an international market is complicated and expensive.What most don’t realize is that the
technology exists at very reasonable costs to be able to communicate their
listings to an ever increasing market place. Currently there are over 1 billion Internet users and the probability
that one of them is searching for the exact property that you are selling is
extremely high. What needs to be
done to insure that you as the seller can find the buyer without breaking you
budget?
Common sense would dictate that the best way to
find potential buyers is to get into the buyers shoes and find out how they look
for properties. Do they drive up and
down the streets looking for the exact property that you are selling, chances
are that they aren’t. Are they
calling around to every brokerage to find out if they have anything that would
work for them, and again the chances are that they aren’t. So how do most investors start their
search to find your listing? Chances
are they start by doing market analysis, searching for the areas that fit their
investing criteria. Then they will
do property analysis on 10-12 potential properties in their chosen markets. They will narrow that down to 3-4
properties that they will actually begin negotiating on.
If that is what investors are doing and we
understand that then we really need to look at where they can do all of the in
the least amount of time. The only
option is through the Internet. The
questions that you as the listing agent should be asking are:
1. How can I get the
greatest exposure to my listing without costing a fortune.
2. Presenting my
listing in the best light so that potential investor will consider my listing in
the 3-4 that they will negotiate on.
3. How do we net the
most for our client and our commission.
There are a couple of ways to increase exposure,
but if you want to stretch advertising dollars we would recommend selecting 4-5
websites that you can list your properties with. Doing a little research will help you select the right websites that will
have the right search tools available to allow your property the maximum
exposure possible. Search tools that
will allow the potential buyer to find your property quickly and easily. Extra advertising tools to get your
property noticed immediately such as email campaigns to investors that are
searching for your exact property or featured listings substantially increase
exposure.
Wouldn’t developing you own website take care of
the problem? Having you own website
is important for client relations, but it may not be effective in giving you the
exposure that you are looking for not only that it can be time consuming and
expensive. Again we would recommend
that you couple your office website with advertising on 4-5 additional websites
that will reach your target market.
Next you need to think about presenting your
listing in the best light to attract the right kind of buyer. Obviously you want to be completely
honest with the listing but you always want to present potentially negative
items in a positive light. For
example if you are selling a run down strip mall you could say with repairs that
the buyer can increase equity in the property and increase the rents for better
cash flow. Or you are selling a
barren piece of land you could say 120 house residential development possible.
Buyers like it when they can see possibilities and potential versus just a run
down strip mall or a barren piece of land.
When high value is perceived then high prices can
be charged and should be expected. When you present your listing in the best possible light then you are more
likely to net more for the listing which should be your job as a real estate
professional creating value for those listing that you choose to take. Creative writing and thinking are key
to becoming a great real estate professional and in this world of mediocrity
this is where true professional will raise to the top.
Increasing exposure to your listing and
stretching your advertising dollars are critical for longevity in the real
estate industry. Finding those 4-5
websites to advertise on can make all of the difference between success and
failure. Just as important is being
a true real estate professional and being creative with every one of your
listings that you choose to take.
By Seth Joiner
www.worldwide-propertysales.com
Seth Joiner has been involved with helping sellers for the past 9 years sell
their properties internationally. He
has focused mainly on Argentina in South America and has a unique perspective of
how different cultures interact. He
has also been a real estate investor over the past 5 years, which gives him a
bird’s eye view of both sides of the real estate sales model and enjoys sharing
his knowledge with others.