No one has appointed me to the coveted position of Marketing Miracle Worker nor have I been voted in as Community Countess; however, I have sold a few homes, revived a community or two and managed to do so without being forced into exile. Numerous articles have been eloquently written with poetic prowess on exactly how to market and/or turn around a sluggish community. Unfortunately the current economy has given way to a tremendous amount of experience in moving property in an area that an earthquake itself couldn’t budge.
Realtors work closely with builders, developers, and even area residents in doing everything in their power to revive a comatose community. It certainly isn’t for the faint of heart nor is it for the full of ego. There are a few classic faux pas that can and will prove to be most unproductive in breathing life and restoring vitality into an area damaged and/or forgotten by the evils of the down turn.
If you are a builder, developer, Realtor, or resident doing everything in your power to shed light on a dim domicile, steer clear of these three powerful pitfalls.
1. Do not tattoo the area with for sale signs! – It is doubtful that anyone near or far is unaware that the community may in fact have several lots/homes for sale. Placing for sale signs every ten feet does nothing but emphasize panic and junk up the place. Don’t do it.
2. Don’t list every single lot- Again; it is most likely well known when an area may have a lot or two for sale. Listing every single lot right out of the gate devalues the property substantially. There is simply no need to list 45 lots. List two maximum, as attention builds and after one sells (then and only then) add another to the multiple listing service. If the Realtor lists every single lot, basically you are showing your cards, and your cards say “desperate”. If someone inquires about purchasing more than one such as a builder, then package the lots attractively.
3. Do enlist the help of the neighbors- They matter, their thoughts, feelings, plans and goals certainly matter. They can be your biggest ally or your biggest headache. It is up to you (Realtor, developer, builder) to initiate a productive relationship. They want to know what you are doing, they deserve to know. Chances are they know more about the area than you do and most of the time they sincerely want growth.
Of course there are dozens more; however, these three are the most common pitfalls and often hinder any and all efforts. Rebuilding a community is a grand opportunity, an enormous responsibility and far more than just a listing. Preparation is everything, presentation is crucial and perception will set the pace.
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