Let's admit it. When the market was hot, out job wasn't all that much about marketing our listings.
We'd put a new house or apartment into MLS on Thursday, make it easy to show over the weekend, hold an Open House even, then we would host a contract presentation party the following Wednesday. After having dozens of offers to sort through, we would help our sellers get the highest price from the buyers who we judged to be most likely to show up on settlement day.
Today, however, we are having to do real marketing to get our listings sold. If we start out priced right and nicely staged, people are more likely than not to like what they see - and our challenge is getting folks through the front door so they do see the place.
During this buyers' market, we have a lot more to work with than during the last one. What did we ever do before virtual tours? Even an agent as technology impaired as I am can get a great virtual tour both on MLS and a bunch of other sites. There are ads on Craig's List and the print and on-line sections of the Washington Post. And with all of this, it's important to market to our colleagues as well as the public. Our little black books have been replaced with address book programs that can shoot emails about our new listings to other agents, friends and people we've met doing various types of prospecting.
Here are a few of the tricks from the old days -
Brokers Open Brunch - there an old saying "Hang your pork chop in the window, and they will come." On any given Tuesday, there are probably 100 houses put on our tour for agents to preview, and that's in my immediate market area. When I launch my new listing next week, I'm throwing a party on Tuesday and will get more than my share of colleagues through the door. I serve simple finger food (thank you, Trader Joe!) and keep it easy and delicious.
Mail Open House Invites to the Neighbors - in this area, Open Houses really work. And they work better with help from the "nosy neighbors" who often bring friends with them. Over the years, many of the friends wound up buying the house or turning into buyer clients for something else. We have an office Art Director who provides us with beautifully designed Open House and Just Listed cards with professional photos of our listings, and all I need are stamps and labels.
Target Marketing - in many neighborhoods, buyers come from smaller homes within a mile radius of whatever I am selling. And sometimes I notice that buyers for a certain neighborhood seem to migrate from another specific part of town. Using this information, I sometimes do targeted mailings to rental properties or condos.
Special Interest Groups - once I listed an art deco house in an off-the-beaten-track neighborhood. The owner was active in the Deco Society of Washington. I did up a flyer inviting members to an unadvertised Open House and had it inserted into their newsletter. We had over 100 Decophiles show up. The next day, at the advertised Open, one came back with a friend who bought the place.
History Sells - DC has a lot of old houses, and a lot of them have interesting pasts. One of the District's former mayors grew up in my house, which until sometime in the 70's, was owned by her aunt. Presidents, vice presidents, Senators and scoundrels have occupied many of our listings. Many of my senior neighbors have provided interesting background on some of my listings, and our public library and the Washington Historical Society have also been a big help. I try to include any goofy or interesting history in my marketing materials.
Brochures - while a great virtual tour is crucial, so is a brochure the buyers can take home with them. If you are not the world's best picture taker, have your listing professionally photographed and have a pro prepare your brochures. I think most brokers are making these services available to their agents. I've been offering to email the brochures to people I meet at Opens, and a lot of buyers prefer this to carrying around paper.
And, of course, anything you do to market a listing also markets you. Your virtual tours and brochures not only help you sell your listings, they will help you get new listings. Oh, and they'll help you get buyer clients - which in a buyers market is a good thing!
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