Marketing 101 for Real Estate Investors
What do you do when you have to get a property sold in a market that’s on a downward turn? Your first thought might be to slash the price and slap a listing on every website known to man. Unfortunately many like you have tried this option to no avail.
The problem, in my opinion, is that too many homeowners and/or their realtors are making the mistakes when drafting their listings. Below is a sample listing of a townhome for sale in my neighborhood:
“Small complex in Burnaby Heights for sale. Rare corner unit offered in stunning Red Brick Heights. Built 2 years ago, 3 bedrooms and 2 baths help to fill up 1,375 square feet of living space. There’s also a 3rd floor loft. On the roof you’ll find magnificent panoramic views of the North Shore Mountains. Enjoy gourmet kitchen, hardwood floors, granite counters, and stainless steel appliances. Move quick – at this price, the unit won’t last long. Reduced strata fee on well managed property.”
Effective marketing here would start out by attempting to connect with the emotions associated with wanting to purchase the perfect property. You don’t want a prospective buyer to feel like they have an unlimited time to decide. On the contrary, you want them acting quickly before this dream property is sold to someone else. Unfortunately sellers do face the real fear many potential buyers have due to the many unknowns about the market. Thankfully, while they are repelled they are still drawn in by the hope of making money on a sound investment.
If you have to sell your house, you need to acknowledge that fear or the desire to make money ” not, as was done in the above example, try to create a fake sense of urgency. And you need to appeal to the positive emotions that might make someone want to buy a house even in troubled times.
Rather than start off with the physical attributes of the property, why not start by giving the potential buyer a glimpse of how they’ll feel when they buy your home. What will it be like to cook food for a family in a gourmet kitchen? What will entertaining be like with your friends on a roof top patio? This is a better way to write an ad rather than rattling off statistics on the property. Photos, maps, and words must come together to help in selling your home via the listing.
A professional copywriter would understand how to come up with the most effective way to write the listing for your home. I’m sure some of these tips would have helped my neighbors sell their townhome.
How to find money for real estate investments, create financial freedom, positive cashflow and massive wealth with Julie’s free Real Estate Investing Starter Tips Guide. Retire a rich real estate investor with tips like: How to find quality rental properties, finding and keeping great tenants, and easy ways to become wealthy with real estate.
Did you enjoy this post? Why not leave a comment below and continue the conversation, or subscribe to my feed and get articles like this delivered automatically each day to your feed reader.
No comments yet.
Sorry, the comment form is closed at this time.