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Do not forget Marketing

By
Real Estate Agent with Vylla Home

 

 Limited Marketing
There are two obvious marketing tools that nearly every seller uses: open houses and classified ads. Unfortunately, these two tools are rather ineffective. Less than 1% of homes are sold at open houses, and less than 3% are sold because of classified ads. In fact, Realtors® often use open houses solely to attract future prospects, not to sell that particular house.  Does your Realtor® have a website?  There are very few successful real estate professionals who don’t, and for good reason.

A Realtor® should employ a wide variety of marketing techniques and should be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor® is working on selling your home during these hours (many Realtors® work part-time).

Lori Franks
Real Estate Consultant - Brookings, OR
Brookings, Oregon

Freddy, this post is good advice to sellers. Help them to think outside the traditonal marketing box. Or should I say OLD SCHOOL BOX! Today it is all about the internet and a website is a must...and a cell phone of course!

Jul 16, 2008 02:08 PM
Lori Franks
Real Estate Consultant - Brookings, OR
Brookings, Oregon

Freddy I just had one question...where did you find your stats? I might want to use them myself!

Jul 16, 2008 02:09 PM
Jignesh Patel
Coach Jig - International, IT

Freddy -

 

You are right on about print ads and marketing.  In fact, a recent article I read said that if 30% of an agent's business is not a direct result of his/her personal website....they have 3 years left in the business!

I hope you'll check out my new blog "Common Sense Real Estate", covering marketing and more.  i'd love to hear your feedback on my first post! 

-Jig

Jul 16, 2008 03:37 PM
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

It is amazing how many agents take listings, and then are NOT available to field calls and then don't call back promptly either!

Jul 16, 2008 03:46 PM
Sandra Carlisle (Ayers)
Berkshire Hathaway California Properties - Newport Beach, CA
Real Estate Marketing & Sales

Let's take that a step further and replace website w/blogsite.  It's very hard to find an agents website with a google search unless you are searching by name.  How many buyers are doing that?

Your blogsite gives you (and your client's  home) more exposure than any personal website can to buyers using simple, real-life, searches.

Jul 16, 2008 03:53 PM
Richard Byron Smith, NMLS #184479
Mortgage Loan Officer, Fairway Independent Mortgage Corporation NMLS #2289 - Chattanooga, TN
Mortgage Loan Officer

I also am surprised at the number of local realtors who do not have a personal website, let alone use any blogging tools. Some I speak to, just say "I know I need to do that."

But they don't.

Loan officers in my company, the same.

Richard

Jul 17, 2008 12:26 AM
Derenda Grubb
CENTURY 21 Mike D. Bono & Co.'s - Lake Charles, LA
GRI, ABR, CRS

Freddy,

I totally agree.  The only time I do either of the above mentioned marketing methods is at the insistance of the Seller.  When holding an open house, I have a waiver that the Seller must sign, accepting all liability and releaving my company and myself of any responsiblity.  Most of the time, once they have read the hold harmless and see that this is not childs play, they change their minds.

Jul 17, 2008 12:33 AM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Freddy, good point on the open houses and classified ads. They are fast becoming a thing of the past. I also agree it is necessary to have a web site and a blog since the Internet is probably the number one choice for property searches.

Jul 17, 2008 12:38 AM
Paul McFadden
Responsive Pest Control - Seattle, WA
Pest Control, Seattle, WA.

Thanks, Freddy. Although I originate mortgages, the idea of marketing is everything. Personally I love doing it and believe it's the most important thing we can do in our real estate business. Nice post!

 

Paul

Jul 17, 2008 06:22 AM
Freddy Solis Bristow
Vylla Home - Bristow, VA
Braemar Realtor

Marketing is for all businesses at one point or another it will be required for you to plan and implement some type of marketing that fits your product if you want to stay making a profit and finding new customers.

Jul 23, 2008 01:31 PM