Real estate agents and brokers should advertise internationally
Most brokers have the misconception that advertising in an international market is complicated and expensive. What most don’t realize is that the technology exists at very reasonable costs to be able to communicate your listings to a growing market. There are currently over 1 billion internet users and the probability that one of them is looking for the exact property you are selling is extremely high. What needs to be done to ensure that you as a seller can find the buyer without breaking your budget?
Common sense would dictate that the best way to find potential buyers is to put yourself in buyers’ shoes and find out how they search for properties. Are they driving up and down the streets looking for the exact property you are selling? Most likely they are not. Are they calling all the brokerages to find out if they have something that will work for them, and again, most likely not? So how do most investors start their search to find their listing? They will most likely start by doing a market analysis, looking for the areas that fit their investment criteria. They will then do a property analysis on 10-12 potential properties in their chosen markets. They will narrow that down to 3-4 properties that they will actually start negotiating on.
If that’s what investors are doing and we understand that, then we really need to look at where they can do all of that in the least amount of time. The only option is through the Internet. The questions that you, as a listing agent, should ask yourself are:
1. How can I get the most exposure for my ad without costing a fortune?
2. Present my listing in the best way possible so that the potential investor will consider my listing in the 3-4 in which they will trade.
3. How do we get the maximum benefit for our client and our commission?
There are a couple of ways to increase exposure, but if you want to stretch your advertising dollars, we recommend that you select 4-5 websites that you can list your properties on. Doing a little research will help you select the right websites that will have the right search tools available to allow your property as much exposure as possible. Search tools that will allow the potential buyer to find your property quickly and easily. Additional advertising tools to get your property noticed immediately, such as email campaigns for investors looking for your exact property or featured listings, substantially increase exposure.
Wouldn’t developing your own website solve the problem? Having your own website is important for customer relations, but it may not be effective in giving you the exposure you are looking for, not only that it can be time consuming and expensive. Again, we recommend that you combine your office website with advertising on 4-5 additional websites that will reach your target market.
Next, you need to think about presenting your ad in the best way possible to attract the right type of buyer. Obviously, you want to be completely honest with the list, but you always want to present potentially negative items in a positive light. For example, if you are selling a dilapidated mall, you might say that with the repairs the buyer can increase equity in the property and increase rents to improve cash flow. Or you’re selling vacant land, you might say a 120-home residential development is possible. Buyers like it when they can see possibility and potential instead of just a run-down mall or vacant lot.
When high value is perceived, high prices can be charged and must be expected. When you present your listing in the best light possible, you are more likely to get more for the listing, which should be your job as a real estate professional to create value for the listings you choose to take on. Creative writing and thinking are key to becoming a great real estate professional and in this world of mediocrity this is where a true professional will rise to the top.
Increasing exposure to your listing and stretching your advertising dollars are critical to longevity in the real estate industry. Finding those 4-5 websites to advertise on can make the difference between success and failure. Just as important is being a true real estate professional and getting creative with each listing you choose to take on.