Prepare Now for Black Friday-Realtors and Investors
It's that time of the year when shoppers are out and about picking their way through crowded stores, sorting coupons for cash savings and looking for the most lucrative real estate deals? Not exactly! Although Black Friday might be the favorite day of the year for retailers, it's less than impressive for many real estate investors. Traditionally, fewer people move over the holidays and battling banks while trying to lock-in rates is less than appealing to most would-be buyers who prefer to wait until after the holiday season is over to resume shopping.
So, what is an ambitious short sale investor or realtor to do? Actually several things come to mind both online and off. Here's what you need to know to prepare for Black Friday:
1. Increase service to the select few. Window shoppers have plenty to keep them occupied and many other real estate agents will be out of town or otherwise engaged; make the most of the situation by providing better than average service to the few serious shoppers remaining.
2. Streamline keyword campaigns. Stop all ad testing and streamline the rest of your online marketing campaign until after the holidays. Stick with only the tried and tested top performers to generate results.
3. Consider alternatives. Although an open house may not be your typical idea of a good time investment, it could work in your favor over the holidays if the property is in a great location. Establish a high visibility area, offer free treats and consider adding other attention getting attractions, discount coupons or other incentives for people to stop-by and sign-up for your free information. Collect names and pass out contact information. Include an easy to add site for social media friends to make contact.
4. Tag Team. Work with local insurance agents, brokers and others to pass out materials at the mall, flea markets or other popular shopping spots. Let people know about bargain properties and how to reach you if they are interested in buying or selling.
5. Cinch the deal. Add major incentives to those willing and able to close by the end of the year by including appliances, a home warranty of other highly desired amenities. Other popular choices include a big screen television, hot tub or choice of flooring and paint...whatever it takes to make the deal happen is time and money well spent.
6. Out with the old and in with the new. Ring in a new year by eliminating the least productive properties in your portfolio. Whether the depreciation has run dry, the rents are too low or it's a money pit draining your last dollar, everyone has a property that is dragging them down. Ditch it and move on! Get creative and showcase the home by having your very own Black Friday sale.
Success in 2011
Charles Gardner, Region Realty Greater Houston Homes
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