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!
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