How Big is Your Market: 5 States, 15 States, 50 States?

By
Real Estate Agent with Berkshire Hathaway HomeServices New England Properties

I don't know about you, but my real estate market is centered right in my own back yard. States It includes Westport and the immediately surrounding towns.  It does not include communities on the other side of the country, throughout the south, across the Midwest or even in the neighboring states.  So please, stop sending me emails with your listing flyers.

In my market, I know the locations of the schools, the train stations, the major highways and shopping areas.  I know or can find out the price of comparable properties.  I can look up listing histories and tax records.  In other words, I have the knowledge and the tools to represent my buyers.  

When you send me an out-of-state listing, I have to believe that your goal is to build your real estate network.  I'm impressed that your builder is now offering a 5% buyer commission, but when you tell me that I can't pass up this opportunity to bring my buyers, guess what?  Showing a listing 1500 miles away is not an opportunity.

You can't possibly believe that I'm going to show your new condo in Las Vegas or your fabulous home, on the Intercoastal, in Florida.  

If I have a client who is moving out of state, I am happy to give a referral.  However, I am not going to choose an agent because they loaded my e-mail with spam. 

Yes, that's how I view your e-mailed listings.  They are junk mail, filling up my inbox.  I put them in the same category as the offers I receive to build a better website,  improve  my SEO to gain first page ranking (thank you, I'm already there), learn how to list REO's or FSBO's or Expireds.,  Like those other non-solicited offers, your e-mail is promptly deleted.

If you're trying to create a referral business, there are better ways to do it.  If you're part of a large company, attend their networking events.  Take CE courses in towns, other than your own.  Of course, if you've found me online, blogging is an obvious method.  Write about yourself, your community and your real estate practice.  Comment on other people's blogs.  Through ActiveRain, I've gotten to know agents in whom I would have confidence referring my clients.

So please, when you send out your next listing flyer, take me off your list.   

Copyright © 2008 Marilyn Katz, WestportCTProperties, All Rights Reserved... How Big is Your Market: 5 States, 15 States, 50 States?

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Marilyn Katz

      Marilyn Katz

    Berkshire Hathaway Homes Services New England Properties    
     203-429-1041
  Servings Westport, CT
  and the surrounding communities  

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Copyright © 2013 Marilyn Katz, All Rights Reserved

Comments (12)

Associate Broker Falmouth MA Cape Cod Heath Coker
https://teamcoker.robertpaul.com - Falmouth, MA
Heath Coker Berkshire Hathaway HS Robert Paul Prop

But isn't it better to plaster our listing all over the place because exposure is how we sell property. Right?

Nov 28, 2008 07:03 AM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Heath-  Posting on public sites that consumers use to search homes is a lot different than sending listing flyers to the personal e-mail of an agent who lives 1,000, 2,000 miles or more, away from the location of the listing.  They're obviously not looking for a buyer.

Nov 28, 2008 07:10 AM
Kathleen Buckley
STAR REALTY Hopkinton - Hopkinton, MA

Marilyn-  I'm with you:  I perceive all email listing flyers to be junk mail.  I'd appreciate if agents just spent their time making sure their listings look great on MLS and in person--that's the best way they can help me sell properties.

Nov 28, 2008 07:26 AM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Kathleen-  Too often, listing agents are more focused on how to expand their own business, rather than on how to sell their clients' homes.

Nov 28, 2008 08:08 AM
real estate real estate
Providence, RI

Marylyn, you have made a good point. There are three kinds of people that I will NOT do business with: email spammers (send email without knowing me);those never respond my voice message and those who are never on time.

Nov 28, 2008 01:37 PM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Huiting Zhuang- Sounds like a reasonable expectation.  It takes very little effort to send out a blast email, across the country, but their business would be better served if they simply were available and responsive within their own market.

Nov 29, 2008 12:38 AM
Laura Giannotta
Keller Williams Realty - Atlantic Shore - Little Egg Harbor, NJ
Your Realtor Down the Shore!

Marilyn, I have to agree.  I'd go one step further and pass this message on to my home state Realtors.  Good post!

Laura G

Dec 01, 2008 11:11 PM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Laura-  You're right.  Even for local listings, unless there's some unique message (e.g. not yet on the MLS), I'm not going to use e-mailed flyers to select the homes I'm showing to my buyers.

 

Dec 01, 2008 11:46 PM
Sandy Shores FL Realtor®, Melbourne Real Estate
M & M Realty of Brevard Inc. - Melbourne, FL
Brevard County Real Estate, Florida's Space Coast

Hi Marilyn, Well said.  We can not be specialists in many areas.  We must learn and know the area in our own backyard and know it like the back of our hand, so we can become experts.  I don't care to be too spread out - I am not able to properly accomodate my clients.

Dec 01, 2008 11:49 PM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

Sandy- When I get listing flyers from across the country, those agents aren't expecting me to show their properties.  They're more likely looking for referrals.  Not gonna happen.

Dec 02, 2008 12:03 AM
James Wexler
wexzilla.com - Scottsdale, AZ

blogging is a great way to connect with real estate agents throughout the country and world, as it seems like realtors are the only people who actually read real estate blogs :)

Dec 03, 2008 02:24 AM
Marilyn Katz
Berkshire Hathaway HomeServices New England Properties - Westport, CT
ABR, e-PRO - WestportCTProperties.com

James- I agree that blogging is a great way to network with other agents.  Sending me unsolicited listing flyers, however, is not.

Dec 03, 2008 02:35 AM