Niche Marketing to Pet Owners 

I recently read a funny post by Maureen Francis Sell-Lord Lesson: Peeing Dogs Do Not Sell Homes. My comment made her laugh but I was serious.

Maureen, That house needs to be marketed to buyers with a bigger smellier dog. It should say in the description Dogs love this house! Mitchell

At the time of this writing,The NY Times was planning a story about pets and real estate in Manhattan. Our PR company often pitches story ideas to the media.

Through our publicist the writer Christine Haugney contacted me. They were looking to interview buyers willing to pay more for "pet friendly buildings".

Since I was the listing/marketing agent and the building had an "easy" pet friendly board I wasn't included in the article.  NY Times: So, Do I Make the Cut? So, I didn't make the cut.

Through activerain however, I have an audience for my story as well. My story is how I specifically marketed and sold an apartment for top dollar to dog owners. Dog owners bought the apartment. The dog loved the outdoor backyard space and played a role in the buying decision.

I didn't think much of it until the neighbor with an identical apartment with an even better kitchen hired another agent at another firm instead of me.

The neighbor came to my first Open House picked up my show sheet and said "Do you really think you will get that price? Do you know what we paid for the apartment last year"? I said yes I know I saw the comps in the building you paid about the same price my seller paid. She told me she paid $450,000 and had a newer kitchen than my seller. My seller paid $400,000 about a year earlier. I told the neighbor I will keep her posted and will let her know when and what the apartment sells for.

My listing was a duplex garden apartment on the upper east side of Manhattan. It sold and closed for $675,000 last summer. I aggressively priced it at $699,000 more than any apartment in the building ever sold for. 

I sent a Just Sold card to the building and the same neighbor who came to my Open House called me for a complimentary market evaluation of her apartment. When I arrived her fiancé greeted me at the door. The apartment was the identical mirror image of the one I just sold.

They were both corner duplex garden apartments although this one had a newer kitchen. I told them what the other apartment Just Sold for. They were considering selling and wanted to sell at $740K. I explained that my recent sale was a record breaker the highest price ever in their building, I could get them at least the same, perhaps a little more but I wouldn't list it for more than $699,000.

I always prepare a customized marketing plan that is a comprehensive internet marketing strategy including more than 10 top real estate websites. The fiancé said he doesn't think the internet is that important since most buyers come from the neighborhood and the agent they used when they bought their apartment has a company website.

I told them that only one local website wouldn't expose their property to enough buyers. Our closest competitor offers exposure to 8% while we provide exposure to 76% of the unique visitors on the major sites and the buyer who purchased their neighbor's apartment found it on the internet.

Since they were only considering selling and didn't have any plans to move I suggested they wait until this year to sell because they had not lived in the apartment for two years therefore they would not be eligible for the capital gain primary residence tax exemption of $250,000 since the apartment was only in her name.

In September she listed her apartment with two agents at another brokerage for $679K. (Priced Right)

I watched them lower the price several times until their last listing price of $573,000. It just sold and closed on March 24th, 2007 for $565,000 $110,000 less than what I sold their neighbors apartment for.

The conventional wisdom is if it's priced right it will sell. I was really surprised at the huge difference especially since our market was down last year and has since picked up considerably. The first quarter of 07 is up 5% from last year.

I thought it was just luck until an agent in my office pointed out to me that I am a great marketer and many other agents are not. Many listing agents are nothing more than data entry clerks. They enter the data in the system and hope the apartment sells.

I always market to a niche. Every property has to be marketed to the right buyers. I marketed this property to  dog owners and the other agents did not.

Both apartments have a patio that opens up to a landscaped common garden. The building itself and the apartment were not that great. I felt the best feature of the apartment was the outdoor garden and it would be ideal for a dog owner.

I changed the standard building picture in the MLS to the outdoor garden photo. The tag line on all my marketing was GARDEN IN THE CITY Your own Garden Oasis in Manhattan - Your dog will love the fabulous outdoor space.

The agent for the neighbor's apartment kept the ugly picture of the building as the main listing photo. They made no reference to dogs or dog owners. Their description said: Imagine yourself lying on your chaise chatting with friends and sipping a cocktail as your steaks sizzle on the BBQ.

While many people BBQ in Manhattan it is actually illegal, sizzling steaks might alienate vegetarian buyers and coop board members and sipping cocktails might insult buyers that have a drinking problem.

The couple that bought the apartment I listed came with an agent from another firm but said they saw the pictures of the outdoor garden and found the listing and description on the internet.

The space was very much about their dog. They came back with their parents and I told them to bring the dog. The dog loved the backyard. I also had several other dogs come with their owners to my Open Houses. 

Listing, marketing and selling real estate in Manhattan is an Art not a Science

 There is a buyer for every home.  Every home has a Niche Market