Special offer

I should have read my own book to sell my apartment.

By
Education & Training with Lois Geller Marketing Group

     For several years now, I've been blogging about selling my parents' apartment in Miami Beach, Florida. First, I went through the emotional angst of parting with it.

    Then the market started to really tank. I signed up with a realtor who wanted it staged, and was really great with that, but couldn't find anyone with an offer, though we lowered the price several times.

    My second broker was eager and enthusiastic and quite positive that the apartment would sell in a month or so, because we lowered the price again to shock the market. It didn't move, and I listed it on Trulia, blogged here on Active Rain about it...and mentioned it at about ten speeches I gave for realtors here in Florida.

   No luck. No showings. No offers. Period.

   Then came the Aha moment! I have written a book, Sold! Direct Marketing for the Real Estate Pro. But, I was acting like I didn't even trust my own science.

   Well, the last broker suggested I rent the unit. I don't want to be a landlord, though. The rent that she suggested would not have covered my maintenance and mortgage, either.

    So, I decided to do what I do best at my agency. I wrote a letter to each unit owner in the building. I told them about my parents and how lucky the apartment was for them (they both lived well into their nineties.

   And, as in any great direct mail piece, I gave them a nice offer. I told them if they could find me someone who would ultimately buy the apartment, I would give them a finders fee of $2,000, at closing.

   All of a sudden, my phone began to ring. My assistant and I took turns driving down to Miami Beach to show the lovely place. In about a week, I started receiving offers. I accepted the couple that offered an all cash deal (he didn't need any financing at all), and would close in 30 days.

   Well, that's what happened. It is sold now, and the new owners are enjoying the lovely view of the Atlantic Ocean, and the birds that occasionally land on the terrace.

    Direct Marketing works. It has for my clients for over 2 decades. Maybe I'll use it next on selling some of my Made in Occupied Japan collectibles.

   Maybe you should try it too!

 

* Rate A Home
Rate A Home - Saugatuck, MI

Lois, congrats on the sale. Direct marketing is a great way to go, glad you took your own advice! Hopefully the first two brokers read this. WTG

May 18, 2008 01:03 AM
Lisa Friedman
Alliance Realtors - Bedminster, NJ
Central New Jersey Real Estate

It always helps to be proactive. Who knows how long it would have sat on the market otherwise. Good job.  I don't think that finders fees to non-licensed people are legal here in New Jersey.  I will check though.

May 18, 2008 01:13 AM
Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

In Virginia we can't pay anyone who isn't a licensed agent a referral fee.  Congratulations on getting the property sold though.

May 18, 2008 01:40 AM
Josef Katz
Digital and Direct Response Marketing - Manhattan, NY
{Marketing Maestro}

You just got to love the AhHa moments.  You made a great offer and hit the right target market which I am sure helped your effort. We are doing something similar here at Trump U.  Instead of hanging the 'for sale' signs and waiting for a response we are targeting people based on industry knowledge and showing them a way to change the status quo.  It is a new effort but if your example is any indication we should have success with our effort.

 

May 19, 2008 08:35 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Lois, Left you a message earlier today.

Congratulations on the sale of your special condo. Hope the people love it and enjoy your mom's home full of  all your good memories.

Jun 09, 2008 04:51 AM
Rick & Ines - Miami Beach Real Estate
Majestic Properties - Miami Beach, FL

CONGRATULATIONS LOIS!! So glad to hear that you used your own advice.

Take a look at what just popped up on my e-mail radar and my answer from months ago -

http://www.trulia.com/email/nvart/www.trulia.com/voices/Home_Selling/My_apartment_is_beautiful_on_the_ocean_What_can-10460--

 approaches and getting rid off what doesn't work.

Jun 12, 2008 03:08 PM
Susie Roscoe
Signature Realty Associates - Brandon, FL
Real Estate Specialist | Brandon, FL

Wahhhooo for you LOIS!!!  That is the BEST news today!!  How awesome...you paid NO REALTOR FEES and SOLD IT FASSSSSSST!!!!  Excellent story to share!

Smiling in Brandon, FL!

Jun 23, 2008 08:41 AM