Selling Properties: Making the Most of Marketing
Posted by: reipro, in How To Sell PropertiesKnowing when to take advantage of a great property that has come on the market is important when you’re looking to create wealth as a real estate investor, but so is knowing the right time to jump and to make the sale. Of course, in order to know when you should be selling properties, you’re going to need to look at some of the finer points of selling (keep in mind this rule of thumb: when you are looking for success in real estate investment, you want to find motivated sellers not to become a motivated seller).
One of those finer points boils down to something that is essential for your business anyway: in order to have success selling properties, you need to be sure that your marketing methods are top notch.
Unless you are able to effectively market the properties that you are trying to sell, it’s going to be hard for interested or would-be buyers to know that they are available. Unless you know how to market yourself and to work with the right team, selling properties is going to be difficult.
That’s why it is essential to understand all of the marketing options that are available to you. Whether you focus on selling from your website, selling with a real estate agent or on using other internet and print marketing campaigns, when you want to be sure that you know how to sell a propoerty, you need to know how to launch a great marketing campaign.
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May 20th, 2008 at 10:31 am
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May 20th, 2008 at 1:03 pm
To be successful selling properties you need to a) have a good product to sell and b) have a big shop window to sell it from. With the pervasive nature of the internet there should be not trouble advertising in the biggest shop window of them all - The world wide web.
That said, where you place your ad will be critical as all websites are not made equal. Maximum exposure and being discoverable requires high visability.
Cheers,
Stu
www.offplanpropertyexchange.com - Make the most of of marketing
May 20th, 2008 at 1:58 pm
In order to know when you should be selling properties, you’re going to need to look at some of the finer points of selling (keep in mind this rule of thumb: when you are looking for success in real estate investment, you want to find motivated sellers not to become a motivated seller).
One of those finer points boils down to something that is essential for your business anyway: in order to have success selling properties, you need to be sure that your marketing methods are top notch.
May 21st, 2008 at 11:38 am
I think one of the biggest problems homeowners and investors face when trying to sell a house in this market is that they cannot get enough traffic to the property to get offers submitted. With listed inventory skyrocketing, and lenders tightening their belts, that leavs a smaller group of buyers who can qualify and they are well aware that they are in control. The news will make sure of that.
One of the biggest mistakes that a seller can make is to list a property at a high price with the intention of “leaving room to negotiate”, because they are pricing themselves right out of being even considered to look at. With so many houses to choose from, buyers are selective about what they are willing to potentially waste time on.
So, the trick is to offer a unique opportunity by using any number of “exit strategies” that we real estate investors have in our bag of tricks. Offering your property at a much lower price and then providing an environment to fuel an offer bidding war is a great way to get people over to look (round robin), as well as find out what the market is truly willing to pay for the property. Then there is always lease purchases, and seller financing strategies that will cater to the HUGE market of buyers that cannot qualify right now while the lenders are licking their wounds from the recent liquidity crisis and subprime mortgage write downs.
And on that note, if you can build up a relationship with a local private lender, then you might be able to offer financing to your buyers. There is a LOT of money sitting in IRA’s that is not producing any returns because of the market conditions. Investors will jump at the opportunity to lend at a decent rate on a safe LTV to buyers that may not necessarily qualify for FHA right now. Thats a very large opportunity that we are currently focusing on and are finding it to be very lucrative.
I hope this helps. Good Luck!