How Do We Keep The Up-Trend in Home Sales Going??? I have some ideas that seem to work for me!

By
Real Estate Agent with Douglas Elliman Real Estate 30HA0800896

How do we keep the "up-trend" in Home Sales going??? I have some ideas that seem to work for me! I am currently in contract on 2 deals and will be writing an offer on Monday--so something I am doing is right!!!

In many markets there has been a nice bump up in How Do We Keep The Up-Trend Going Up?real estate sales and now it is up to the professionals of this business to keep the arrow pointing skyward....any way we can!!!

I have decided that in my marketing area, which is driven by the stock market and Wall Street in general, I will do everything in my power to get the word out that business is brisk and houses are moving at long last.

First and most important is pricing--I will not take ANY listing that is overpriced; in fact, one of my deals is a house that came on the market at a price that made many agents say: "You have underpriced it!" NOT! It sold in 1 month and the seller got her asking price...the best outcome, I think.

I send out a monthly newsletter to my customer base, and this pulls responses from long ago clients/customers. But the advertising that I have done on the internet does not seem to be attracting many new buyers and this concerns me...so I have begun to persue other avenues for ads.

The one thing that is pulling out here in the Hamptons is print advertising---likely reason being that the buyer out here now is on vacation and has time on their hands to read magazines---magazines with society pages and lots of news about leisure activities and Who's Who in the Hamptons this summer.

However, come September and October when most people have gone back to their normal day to day lives, I have to come up with a new strategy.

DOES ANYONE OUT THERE HAVE A DIFFERENT IDEA? HOW DO WE KEEP THE UP-TREND GOING???

ANY IDEAS??In the past, I have found that the months of September and October are my busiest; folks who have had a great visit here in the Hamptons or had a terrific summer with perfect weather, start to plan how they can buy a home rather than rent one next year. So if I scramble and get as many listings as possible signed up for that time period, I can go into the winter months confident that I will make it through the slow, dark time of the year.

The key to doing a healthy business all year long has been to have as many listings as I can possibly handle, include a "Newbie" as co-listor on my listings and by doing that I can move smoothly through a difficult time like we had in late 2008 and all of 2009.STRIKE!

SPEAKING OF "NEWBIES" IN THE BUSINESS, I have a new agent who I brought into the business. She was a stager and she wanted to try to expand her knowledge of real estate; I helped her to see how she could make money in real estate, do staging on the side as she transitioned into the business and come out ahead of her slow staging business...now she is flying through the real estate world and making headway as my "protege'"! She is realizing, that by teaming up with me on 3 of my listings, she has the benefit of first hand knowledge of the very precious "Estate Section" market and she in turn has added a new energy to the business that I do!

I am finding she has connections that another new agent might disregard as unimportant; I have been able to help her see that her connections can be the just the tool to get her own customer base on track for a healthy business in the future. Learning to hit the mark each time you advertise or market a property is the difference between success and failure...watching me has saved this "Newbie" a lot of money, time and headaches as she learns the ropes....she has told me how appreciative she is by her hard work and effort.

Adding this individual to my roster has been the one thing that I have found to help me build new business in this very different real estate market. It has always been very hard work to be a top producer in this business; now I have found that in order to make money I must step up my level of professionalism, create an aura of confidence and expertise like never before and make a big change in the way I approach all aspects of my business.TEAMWORK WORKS!

If you haven't considered adding some "new blood" to your team--it could be just the thing to bring you out of the doldrums with your business no matter what level you are now at!

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Rainer
80,912
Donald Tepper
Long and Foster - Fairfax, VA
DC area investor helping heirs of inherited homes

Regarding the debate about print versus online (or other methods, ranging from direct mail to sponsorship of events, etc.)--there are just so many variables: Nature of message, who you're reaching, when you're reaching them, what response mechanisms they have, and so on.

Further, some techniques will be more effective at certain times than others. The point's already been raised about who is on the Hamptons, and when. But beyond that, sometimes one technique will work for awhile, then (for no obvious reason) not work. I'm familiar with techniques used by real estate investors. For example, "bandit signs" (those "We Buy Houses" signs you see on telephone poles or on stakes at intersections) generally are quite effective. But sometimes--for unknown reasons--they'll do great for awhile, then not so good for awhile. Same with direct mail--postcards and letters.

So it's not just determining that one technique works better than another. It's not even determining that one specific postcard works better than a specific bandit sign--or that an ad in Publication X works better than pay-per-click advertising on Google or Yahoo! Sometimes, for unexplained reasons, one may start doing better and another worse. Bottom line: As a practical matter, every ad and every communication should be viewed as a test, measuring its effectiveness today.

Aug 15, 2010 11:13 AM #29
Rainer
140,514
Maureen Fukumoto
Help-U-Sell Realty Pro - Mililani, HI
Maureen

I've been looking unsuccessfully for a good assistant ever since my last one moved out of state. What a great idea to bring a newbie, thanks for the idea.

Aug 15, 2010 11:23 AM #30
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Deb: It was a good decision and she has told me she feels very comfortable with the set up. I think it  was a good decision on her part as well.

Donald: Isn't that something? I have noticed as well--- you better not count on any one form of advertsing or you may just find yourself out of business!!

Aug 15, 2010 11:25 AM #31
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Maureen: It works well for me and she says it does for her as well. I think she has been  with me for a year now and we have had several deals close, even in a down market!

Aug 15, 2010 11:28 AM #32
Rainer
479,564
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Our business keeps evolving, new rules, regulations, etc. You've got to be flexible and ready to adapt immediately to the market place.

Putting a team of experts together with you as captain and promoting them would separate you from your competitors and should keep the phone ringing, yet doing nothing will not produce anything new, won't it?  So regardless, you're doing something to generate business, so go celebrate and enjoy a hot fudge sundae.

Aug 15, 2010 11:49 AM #33
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Kimo: How did you know what I was craving?:)

Aug 15, 2010 01:01 PM #34
Rainmaker
298,347
Ray Saenz
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor

hey Paula,
many people are succesful with internet, I still don't hit that point, but I'm working on it, work on subdivisions and share information for buyers and sellers and see how it works for you, I will try to stick with that and hope that works someday, nothing new has worked for me but past referrals.  Let me know how you are doing, take care

 

Aug 15, 2010 06:37 PM #35
Rainmaker
3,267,957
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Realtors - Luxury - Divorce

Targeting locally is all important...what works in one place may not in another...and your  print may offer a different audience than in another area...knowing the demographic and georgraphic will make your sales chart soar super graphic !

Aug 15, 2010 10:48 PM #36
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Aurora: Thanks for the tips!

Sally and David: Here's to "super graphic"---I love the little ditti you wrote!

Aug 16, 2010 07:49 AM #37
Rainmaker
886,262
J. Philip Faranda
J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY - Briarcliff Manor, NY
Broker-Owner

There is nothing like a new, good, energetic agent with contacts and a hunger to excel. 

Aug 18, 2010 12:29 AM #38
Rainmaker
1,543,435
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

Paula, that's great she has brought new energy to your business. I am seeing & others have also commented on the amount of 'lookers' vs. 'shoppers'.  Very few people are actually out there with their boots on the pavement but are surfing around the internet basically shopping.  Not sure what they are waiting for?  Obviously, you have seen & feel the same way.

Aug 18, 2010 03:23 AM #39
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Phil: And the more they do--the more they learn and on and on...I am finding that the "new blood" is anxious to learn the right way to do things too! That is very refreshing.

Lyn: I am trying to put together a deal that I have been working on for a month; new construction and room for making the right changes--they are wanting everything in writing---the buyers want to make about 80 changes that need to be incorporated into the offering and the owner is saying if I do this offering plan and they don't buy the house...that is a huge unexpected cost to me....and now it goes on in the 2nd month of negotiating. I feel like they will do it but it has never been this hard to do business before. Thanks for your input.

Aug 18, 2010 04:02 AM #40
Rainer
103,417
Marsha Cash
RE/MAX Advantage - Stockbridge, GA

Advertising has always been a mystery to me.  Seems I can never find the medium that works.  Have been sticking to the internet lately b/c cost of others is prohibitive when you don't see results.

Aug 20, 2010 06:21 AM #41
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Marsha: I find advertising is an enigma as well---so what I did was start to selectively do print advertising again, track it carefully and now I find that most of my real buyers call me because they saw something of mine advertised---not that they wanted that house but they called me to show them other properties. It's all about getting your name out there I think---agents sell properties; brokerages don't! Thanks for thaking the time to read and comment...

Aug 20, 2010 06:36 AM #42
Rainer
144,389
Victor Zuniga
Berkshire Hathaway Home Services California Properties - San Diego, CA

Paula, I think you have all of the bases covered. If your market is anything like here in San Diego it changes constantly so staying current is challenging.

Aug 20, 2010 09:45 AM #43
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Victor: You are right on the money; change is the nature of the business and your success depends on how quickly you can pick up on those changes and move with them! Thanks for your valuable input!

Aug 20, 2010 11:32 AM #44
Rainmaker
1,523,605
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

Paula, Thanks for the interesting post.  I have a question.  Where do you find the photos of the little white men?

Aug 22, 2010 09:35 AM #45
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Hi Sybil, I go to Dreamstimes.com and I buy credits--like a hundred dollars worth at a time-- on my charge card and then I pick out the ones that suit the post---I always request illustrations only because I don't want to use photos so much--but they have great photos also. As I search for a figure thatn works for my post, I always pick these guys because they seem to fit the mood so to speak and they are adorable, are they not???

Aug 22, 2010 10:07 AM #46
Rainmaker
273,520
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

This is good stuff Paula. Thanks for the motivation.

Sep 29, 2010 05:22 PM #47
Rainmaker
495,774
Paula Hathaway, REALTOR, LBA
Douglas Elliman Real Estate - Southampton, NY
...The Most Informed Agent In The Hamptons!

Wayne: I am glad you read it and enjoyed it!

Sep 30, 2010 02:36 PM #48
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Rainmaker
495,774

Paula Hathaway, REALTOR, LBA

...The Most Informed Agent In The Hamptons!
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