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Creative Real Estate Marketing or Just Plain Silly?

Creative Real Estate Marketing or Just Plain Silly? Now, I am the first to admit there is more than one way to skin the Chardonnay for a Home Tour? cat . . . or sell the home in this instance. But . . . luring buyers with $30 bottles or chardonnay, free dog biscuits or aromatherapy candles? I'm just not so sure.

I'm referring to the story on the front of the USA Today Money Section: "Come look at this house, I'll give you a bottle of wine."

The gist of the article is that sellers and real estate agents across the country are so "desperate" that they are giving away $30 bottles of chardonnay - and the like - just to get buyers and other agents to tour their listings.

Now, I'm not opposed to the agent Open House with a brunch or lunch as a draw, and I'm all for creative real estate marketing, but . . . I'm just not sure someone who is looking to buy a $2.5 million home - as the example used in the article - is going to be convinced to tour the home based on the offer of a $30 bottle of chardonnay.

Creative real estate marketing? I'd say some fabulous photos placed on the appropriate web sites with a dynamite description, some super SOI networking (including a Broker Open House), a competitive price and a bit of luck thrown in for good measure would take the agents a lot closer to their goal. What say you?

Posted by Robin Sherman, CRS, Broker Associate Robin@PensacolaForYou.com on 06/09/2008 07:07 PM

Comments (20)

creative real estate marketing, marketing homes, marketing real estate

Originally posted at: Blog Northwest Florida : Creative Real Estate Marketing or Just Plain Silly?

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20 Comments on Creative Real Estate Marketing or Just Plain Silly?

JUN

2008

Seems to me that a lot of these plans are designed just to convince the seller that you are still puttin in the effort. I have to admit that I have been a victim of doing things from time to time that I know will have no effect at all, but will demonstrate my willingness to continue to pursue any angle in hopes of drumming up buyers for my listings.

Was just reading your comment on my post...........no didn't know you used to live in the pacific north west..........you really are a coast to coast expert! wow

JUN

2008

Robin - sometimes the weird gimmicks work..........and sometimes its fun to try something.......new! who knows eh?

Creative marketing is a funny thing. If you come up with something good, great! Some things don't work the way you hope. But I still like to see people try! :) I do agree, though, that sometimes it's more for the appearance of effort for the client, more than anything else.

Hi Robin-I don't think those things really work. But, if I did that and nobody came to the Open House could I drink the wine? Now that would work for me LOL. Have a great day! :)

Rob - Yes, I've been known to waste my marketing dollars as well . . .

Liz - I'll try to keep an open mind girlfriend!

Maybe if their trying to sell a 2.5mil dollar home they should offer a $300.00 bottle of wine. Would like to know if type of marketing worked at all. Would be interesting to find out...

Shayne - Hmmm . . . I think we could pop for an even more expensive bottle for that $2.5 million dollar home buyer . . . if the wine did the trick!

Sounds like they're already offering the cheese to go with the bottle of wine. I agree, that a buyer fo 2.5 mil dollar home probably isn't going for the free drink. It wouldn't even scratch the surface for the kind of investment a purchaser is making. So, spruce up the house, adv. well and set the price 5% under your competition.

JUN

2008

BRAVO!!!!! No one is going to buy a house because the seller bribed them with a bottle of wine or anything else. Oh, sure, someone might show up to claim their bribe, but what are the chances they're serious buyers for THAT house (and their agent hasn't already showed it to them)?

BTW, it's the same with your SOI - bribery isn't going motivate anyone to refer to you if they wouldn't otherwise.

And you're dead-on correct... if you're looking for a gimmick, how 'bout proper pricing, great photos and an appealing, accurate MLS description???

GREAT blog. Gold Star for you!

Angela - We're definitely on the same page on this one!

Jennifer - Thank you, thank you for the Gold Star! Only my second on Active Rain!

I've been on a BIG "price it right" kick of late (What with our market flooded with overpriced listings.). I just put a $550k-plus home under contract in a month . . . guess who's the third Realtor . . . that's right, it's me. I've done the "ride the market down" thing and I'm completely through with it. Nobody likes you in the end and you have only expenses to show for your hard work. I'm looking for those overpriced listings with all the gimmicks now. Eventually, they'll see the light and I plan to be there for them when they do.

In the meantime, I'd rather just keep that $30 bottle of Chardonnay for myself. After all, the REAL potential buyer might just prefer a Cabernet.

JUN

2008

I often wondered about the other incentives I have heard of in the past...

Sell this home (as an agent ) and get an expensive car, TV, vacation, etc? Why don't they just lower the price? Stage the house? Advertise creatively? Do mailings to the right groups of people? Much better ways to spend an ad budget.

And does anyone really buy a house because there is a free vacation for the buyer? A vacation is over in a couple days but the house will be there a lot longer. I would not make a decision like buying a house for an incentive like that.

Robin: The wine is a total gimmick. Remember the car giveaways? Come on. If they didn't want your house before, and you bought a car to giveaway with it and raised the price, do you really think that is going to work? It's all about price and condition.

Paddy - I've never really understood the concept behind an agent bonus. Just lower the price. If I have a client that's right for your home, I'm bringing them to see it! That's my job . . . I recently saw some new construction with a - no kidding - $25,000 agent bonus. Of course, I looked at my current buyer roster to see if there was a match and there just wasn't. A month later they lowered the price by $35,000. I was on their doorstep with a contract within hours. Would I have liked the $25,000 bonus? Of course. Would I have wanted to explain it to the buyer at the closing table? Of course not!

Chris Ann - My sentiment, exactly.

JUL

2008

Robin - Where we are seeing the great give aways, is bribing the Realtors to preview the home. I was actually lucky enoug to win a $500 gas card last week in a realtor business card drawing and I would have previewed the home anyway.

AUG

2008

Pam - Good for you. Gas cards are a good incentive to get agents into the homes for previews and that makes sense . . . not too sure about some of the other "incentives."

I assist agents in marketing themselves and homes too and sometimes it is VERY SILLY (the things you see!

AUG

2008

I agree; the bottle of wine isn't going to sell the home. I recently spoke to an agent whose seller was offering his Harley Davidson as an incentive for the buyer. I never did hear whether the house sold or not. Creative marketing such as this is just something that simply satisfies your seller. I don't think it's necessarily a bad idea. I do think it attracts a lot of Looky Lou's but you never know who they might know so...if your seller is up for it and you can afford the wine or whatever, I say go for it. The whole idea is to get people to look at the home! You can sell it if no one sees it.

Mattie - I seldom spend $ on marketing "gimicks" - but when I do buy small marketing pieces I try to tie them to real estate . . . like a key ring, etc. Just sort of makes sense to me.

Carla - Yes, some good points.

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