Sometimes, the best marketing is cheap or free
Mike Cooper has a really good idea to create interest in a listing before it is ready to show. Some of the agents in my market do this and I must admit it is intriguing. Mike does caution us to get permission from the client first.
One of my favorite techniques for marketing a property is to put a "Coming Soon" sign in front of the property a few weeks prior to the listing. This works best on REOs or short sales in high traffic areas.
This is a property that is coming, but for one reason or another it isn't quite ready to list yet.
It's important that you obtain permission from the owner / bank / lender (in writing) before doing so, but it gives the traveling public a chance to see what's about to be listed before it hits the market.
I currently have a great REO coming on the market in about two weeks that I just did this with. I seriously doubt it will last 24 hours on the market because I have a dozen people already lined up to place an offer on it. Only two potential clients have seen it inside, and that is only because I was there when they dropped by.
Make sure your state board allows you to place a sign prior to list, but its a great attention getter. It also keeps the sharks at bay who grab up all of the best REO deals before anyone else can get involved. I had one investor offer me an extra $10,000 outside of closing to make sure he gets the property as soon as it lists. Sorry, can't do it. It has to be listed 5 days before a contract can be accepted, but you're welcome to get in line.
The last time I did this, I had a client leave a message at my office before I arrived there after placing the sign. He ultimately bought it for full price. It's a great way to build expectation within the community. Try it if your board and seller permit.
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Give me a call for all your real estate needs, and let's make something amazing happen.
Mike Cooper @ Cornerstone Business Group, Inc., 888-722-6029
Real Estate Sales and Property Management
(Disclaimer: All grammatical mistakes, punctuation breakdowns and misspellings are purely for your amusement and entertainment. Feel free to cackle.)
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