Co-Marketing With The Seller. Can it work?

By
Real Estate Agent with RE/MAX Compass, formerly RE/MAX WHP 0524642
https://activerain.com/droplet/4Prh

Can a home seller and Realtor co-market the listing successfully?

 

1. The seller can help the home selling process by posting the Realtors fliers at the office and directing all 2nd tier real estate questions to their agent.

2. Home sellers should take full advantage of free avenues through social media. When I list a home I send my sellers 'links" to mobile websites like this one: 11830 Brydan Drive.  Giving a homeowner a sense of involvement also reminds them that their effort (besides cleaning the house) is important. Sellers should post links on their Facebook wall, Google + or anywhere else that could help maximize online exposure.

3.  In many industries word of mouth is the most effective marketing tool. In real estate it would be helpful if the seller didn't just rely on their listing agent to do the talking. Home sellers can help the cause by helping spread the word. In some scenarios I provide a discounted fee if the seller procures a buyer for the transaction.

 

When the seller causes problems...

 

1. In no scenario should a seller place "an ad online," say through Craig's List or any other website without consulting the agent they hired to market for them. 

2. Home sellers shouldn't make their own fliers, or place additional "For Sale" signs in the yard. 

3. Unfortunately when Realtors offer "incentives" to the seller (if the seller finds a buyer) the whole situation can go south. Last year one of my clients assumed if a car drove up to the house (because of my sign) that it was an opportunity for "them" to hand me a buyer. This is precisely why a lot of agents do not offer any type of financial incentive to their clients if ... "they find the buyer."  In another situation I had a Realtor friend of mine tell me that their seller was placing "for sale ads" in the newspaper with illegal and misleading catch phrases... and at the bottom it read: "Call my agent at ###-###-###." It made the agent look bad and it wasn't permitted by law. When the agent confronted their client / seller an argument ensued and the seller wanted to be "reimbursed" for marketing expenses. In the end, the listing agreement was terminated and the seller ended up going through another agent.

Posted by

 

 
Greg Nino
, Houston area Realtor®.
Helping residential buyers, sellers and tenants 7 days a week.
Available @ 832-298-8555 

RE/MAX Compass (Formerly RE/MAX WHP)

www.GiveMeMyHomesValue.com

www.EverydayHoustonHomes.Com

 

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

 

 

 

 

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Rainer
358,260
Olga Kellen
English-and-Russian.com, English-Russian Translation & Russian Internet Marketing - Hallandale, FL
Author of Amazon E-Series "Selling to Foreigners"

How about marketing in a foreign internet in a foreign language in a foreign country to get a foreign buyer? I had it both ways: an owner paid or his agent paid for such marketing in Russian. But most of the time they want a foreign buyer although can't get an agreement wanting the other to pay;-)

Any opinions? (There can't be any violation of any rules of course if marketing is being done outside the country.)

Mar 05, 2016 09:43 PM #19
Rainmaker
3,798,214
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Greg Nino ,

So glad Kathy Streib featured this in her "Ah-ha" moments for the week! Excellent post which all listing agents should read!

Mar 05, 2016 09:46 PM #20
Rainmaker
704,451
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

Absolutely Greg. Seller co-marketing is actually in our marketing plan. We build the flyer, sell-sheet or the ad for the seller, and have them distribute it to their mail list and social media.

Mar 05, 2016 09:55 PM #21
Rainmaker
442,453
Dianne Goode
Raleigh Cary Realty - Raleigh, NC
Realtor/Broker

Yikes!  So many ways for seller marketing to go sideways!  I definitely encourage them to share my marketing, including paper flyers at work and e-flyers on social media.  But I don't want them to get creative!

Mar 05, 2016 10:19 PM #22
Rainer
349,984
Muhammad Mushtaq
Weichert, Realtors® - SBA Group - Fall River, MA
Broker/Realtor

Creative marketing is a new norm today but I would be very careful not to put my license at risk.

Mar 05, 2016 10:22 PM #23
Rainmaker
70,005
Darin Henderson
Holland Realty Services - Gladstone, MO
Guiding You Home

Greg you have great points on marketing the seller can help with.  I love your single property site too!

Mar 05, 2016 10:29 PM #24
Rainmaker
563,406
Eric Kodner
Madeline Island Realty - La Pointe, WI
CRS, Madeline Island Realty, LaPointe, WI 54850 -

Greg, let me start by saying that I'm a fan of your blog.

Before I would "hire" a seller to co-market their property with our company, I'd want to ask more than a few questions. After all, sellers quiz us thoroughly in the process of marketing and selling their home. I would want to know at least something about their marketing experience and understanding of the process and the need. That would include a thorough understanding of how web marketing works and why print marketing alone isn't enough anymore.

I'd be concerned about liability. If a non-licensee makes verbal (or worse yet, written) misrepresentations in co-marketing their property and the agent or broker is unaware of those misrepresentations, who will be held responsible if a buyer claims fraud? I'll give you one guess.

It's tough enough for a broker to supervise agents. But how about an agent trying to supervise a seller?

I have seen a few clients try to micro-manage the creation of marketing materials, with disastrous results. Clients have brought me their bad photos (which they took themselves) and thought those photos were works of art. Clients have handed me homely-looking flyers and power point slides loaded with misspellings and grammatical errors. Some have come to me with a long, ego-driven wish list of expensive glossy "coffee table" magazines where they wish to see their home advertised (at the listing agent's expense, of course).

Co-marketing might work for moderately-priced primary homes. I believe an agent will spend a lot of time trying to educate the seller.

Mar 05, 2016 10:38 PM #25
Rainer
410,334
Raul Rodriguez
Covenant Partners Realty - San Antonio, TX
Looking out for the client's interest and not my p

A statement that an agent does not want to hear from a client...you never told me that! Put it in writing and signed, lost a client and a lot of effort because as she said I was not clear in my explanation...I can explain it for you, I can't understand it for you!

Mar 06, 2016 03:13 AM #26
Rainmaker
2,107,607
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Great advice for sellers working with their agent! Congrats on the feature!

Mar 06, 2016 06:02 AM #27
Rainmaker
2,394,939
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

I agree, online sharing of those things you create, and sending inquiries your way is the best combination.

Mar 06, 2016 10:17 AM #28
Ambassador
3,968,266
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I think sellers sharing the links on social media and handing out listing cards to friends, neighbors and colleagues can work really well. Doing their own independent ads, like Craigslist, could be a real problem since they have a brokerage contract and there are certain things that must be done correctly.  But I think you have to be real careful as some sellers simply can create more problems. I think Eric raises some good points to keep in mind

Mar 06, 2016 10:48 AM #29
Ambassador
3,081,002
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

I liked it just as good this time Greg Nino  as I did the first time!

I caught your post on Kathy Streib recap!

Mar 06, 2016 12:24 PM #30
Ambassador
4,299,501
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Greg Nino I use 'named buyers' as exclusion at the time of listing agreement so no 'drive in' buyer becomes 'their' buyer....lol.

Mar 06, 2016 02:31 PM #31
Rainer
514,581
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

This has to be made clear in the first meeting with the sellers that we are on the same team and need to complements each others efforts to win big and quick!!!

Mar 06, 2016 07:55 PM #32
Rainmaker
679,919
Nicole Doty - Gilbert Real Estate Expert
Zion Realty - Gilbert, AZ
Broker/Owner of Zion Realty ZionRealtyAZ.com

I don't want my sellers advertising or marketing their homes without my consent or my pre-approval of any flyers or social media posts. It's a recipe for disaster. 

Mar 06, 2016 11:15 PM #33
Ambassador
2,204,832
Wanda Kubat-Nerdin - Wanda Can!
Prado Real Estate South - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Greg, It can work as long as the rules are followed and are in writing and the seller's are also monitored for their contributions. Seems like more work in the end though!

Mar 07, 2016 12:18 AM #34
Rainmaker
507,995
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

I've had sellers post links to their listings from my competitors web site. I asked if they wouldn't mind using my site and they were confused.  It could have been the specific seller, but I don't mind at all if they use my marketing, just not the competition. 

Mar 07, 2016 01:55 PM #35
Rainmaker
996,624
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

A Seller can quickly undermine a marketing strategy using these methods and not communicating to their agent before you can say suffering succotash Greg. The learning curve isn't as easily navigated these days for anyone let alone the uninitiated.    

Mar 09, 2016 10:10 PM #36
Rainmaker
2,751,873
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I've heard of on the cases that this works, it works really well! But, it can be tough if you're not careful.

Mar 24, 2016 04:52 PM #37
Rainmaker
2,751,873
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Come to think of it, it's probably not the best idea. You guys have convinced me of it. Good luck with everything!

Mar 24, 2016 04:53 PM #38
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