When Craigslist Fails, What to Turn To?

By
Services for Real Estate Pros with Pacific Servicing

I work with Several Brokerages Marketing their bank owned properties. These properties are 20-40% below what they last sold for, and are usually $100,000+ under market. Usually I will go on Postlets, Backpage, Craigslist, and take out a couple magazine ads to advertise the homes. This past week we posted over 100 properties on Craigslist, From Los Angeles, Orange County, Inland Empire, And San Diego. We posted 4 color pictures, a long description complete with home features, school districts, local comparable sales, and how to contact us for a showing. Out of the 100 ads We have received 3 phone calls, 2 of the 3 were buyers agents immediately wanting to cut our brokerage out, and only 1 caller actually set an appointment for today at 5:00PM to see a home in San Clemente that last sold for 1.4M and the bank is asking $800,000 for it! 

I don't understand what we are doing wrong. We are contacted by these banks to market their listings, as well as the banks agents as we are known in our area for selling the most bank owned homes, and having agents familiar with the extra disclosures involved and the tedious process. 

So back to craigslist, we posted 100 properties and got a total of 3 responses, how is this possible? Most people in Southern California are standing in line to buy foreclosures as it gives the consumer the chance to buy a home far below market value and since most of the homes out here were built newer than 2000 they don't really have any problems with them.

SO... If craigslist doesn't work what does? I'm contemplating buying signs, and putting them up across the city but not being sure of the legality and the cost and tremendous amount of time it would take... I'm just not sure it'll work.. So What do you do to advertise your properties? Legit, Under market Beautiful homes selling for far below market... How do I bring credible buyers to our company? I also tried zillow ez-ads and paid $1000 for 100,000 ads. Well I'm 40,000 ads viewed in and NO CALLS. So Please help out...

  

Posted by

 

 

Ryan Case - Partner

Pacific Servicing, LLC

Ryan@PacificServicing.com

(800) 313-9050 - Office

(951) 760-3170 - Mobile

(951) 501-2926 - Fax

ps

Comments (7)

Brett Noel
Keller Williams - Paso Robles, CA

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Sep 23, 2007 05:41 AM
Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

For my craigslist listings I use less is more.  Each property gets a single webpage on my site, people are referred back to my site if they want to see more pictures, the floor plan or the virtual tour.  There they can find what they are really looking for:  new construction, rentals, etc

This system is working well for me and I posted a blog about it in the last month :) 

Sep 23, 2007 10:05 AM
waey wyqw
wyq34y - Dell, MT

I agree with Renee, It's not about posting 100 listings on Craigslist. You should choose the most 'attractive' properties in your portfolio and craft an ad that will entice the reader to contact you for more information. Once they call then you can determine which house best fits their criteria.

Here are some questions you can ask before conducting your Craigslist campaign.

Sep 23, 2007 11:32 PM
Anonymous
NYN
Well there a bunch of mini craigslist sites that are directed towards certain demographics. Take uloop.com for example, which is a craigslist for college students. What if real estate ads should focus on attracting specific audiences rather than general.
Jan 29, 2008 08:22 AM
#4
Nate Alexander
First Team Real Estate - Long Beach, CA
The Long Beach Home Pro
craigslist works. the problem I see with most craigslist ads are that they are written poorly. they are usually written to blend in with all of the "too good to be true" bait and switch ads. I've had great response from craigslist. its all about how you present your ad.
Jan 29, 2008 10:17 AM
Bobby Wallace
Vacant Land Solutions - Charleston, SC
Sell Your Vacant Land The Hassle Free Way!

Ryan...you got a 3% return...what were you expecting? 20-30%-50%? Some direct marketing companies make millions getting 2%; I've made money getting 1/2 of 1% ....not sure why everyone thinks that Craigslist is the answer to everyone's problems..it's one avenue...if you are not getting the results that you want/need "test" somehere else. I have about 80+ free sites that I list on...and get results.

Test, test, and test some more...you know what isn't working...figure out what will. Hang in there.

Jan 29, 2008 11:47 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

Due to the large volume of ads on Craigslist, after about 30 minutes, your ad is buried and hard to be found. It has to be very visual to attract attention. Craislistis only a piece of the puzzle. I would do some heavy promotion to other brokers.

Jan 29, 2008 12:28 PM