Marketing a property is sort of like fishing. One line in the water is good, but ten is even better. You increase the probability of success by the number and quality of ways that the public and their agents can encounter the property. A huge part is Internet exposure on multiple websites so people can find them with search engines. But also good ‘ol direct mail to areas where a likely move-up prospect resides now, or getting the word out to fellow agents within the company and other companies can work. Just the sign in the front yard or the brochure box there can sometimes lure in a prospect. Another facet of marketing is Open Houses. It’s not one of the most important parts, but it definitely can increase exposure which is always a good thing. Some homes lend themselves better to Open Houses than others. For instance, in a VERY expensive neighborhood, you might not get a lot of of real prospects there, just people who want to look at the cool house. Something not too much lower or too much higher than the average price in our market probably works the best, i.e. the deepest water if you are fishing. But that doesn’t mean it won’t work for other price points. For homes off the beaten path with very little drive-by exposure, the probability is lower for attendance. The best would be a home in a neighborhood with higher than average demand and sales activity historically. One with good drive-by exposure for your main Open House sign on a well-traveled street. A home that’s easy to navigate to from a main road is best vs. one all the way at the back of a subdivision with eight turns and eight signs to follow in order to find it. I always advertise the Open House up to a week in advance on our public website for people searching for Open Houses. More people are finding them that way than before, but still, the Open House sign is by far the most common way that people find it. I enjoy hosting open houses. It’s fun to talk to people, and you never know for sure what will happen unless you try.
Open House Marketing
Posted on January 24th, 2012 by Richard. Categories: For Home Sellers, Real Estate PerspectiveSetting the Table
Posted on January 18th, 2012 by Richard. Categories: Food for Thought, Real Estate Perspective
The last few years the market has been in a word…slower. Not awful as the media driven consciousness seems to think, just slower than normal. In America, we’re used to everything being terrific, perfect, always improving. So when it’s not any of those, somehow that’s interpreted to mean it’s awful? I don’t think so, but it feels like there are a lot unfortunately who do. The media is a huge part of the problem. No actually it is most of the problem, driving home the message constantly, relentlessly until it becomes reality. But, that can only go on so long. There is always a consistent percentage of people that want to move or sell their home. But the market in the last few years has changed that. So, most people patiently wait for better days. Luckily the media has gotten tired of bashing the economy it seems…on to different stories. It’s no coincidence that the market and the economy then is improving. But in the meantime, the table has been set. The feast is getting ready to happen. All of the pent up demand from the last few years is getting ready to be released. It’s just a natural progression.
Market Watch – January 2012 edition
Posted on January 16th, 2012 by Richard. Categories: Market Conditions, Market Watch
January is always an interesting point in time. The end of one year and the beginning of the next. A look back at last month and last year’s residential activity for the nine county central Indiana area reveals a market that’s keeps improving in all the right ways. The amount of inventory on the market has been reduced dramatically from high levels seen in 2008-2009 when an oversupply of homes for sale caused downward pressure on prices. Since then, a slow but steady reduction of inventory occurred, and average prices have been rising.
For greater perspective on the residential market for last month, take a look at my latest Market Watch Newsletter, with more in-depth analysis, real numbers, charts and graphs.
Building in Winter
Posted on January 14th, 2012 by Richard. Categories: For Home Buyers
The winter weather doesn’t phase the progress on new home construction very much around here. It takes a little coordination so that the foundation work is done prior to or after the coldest weather. But there are usually enough good weather days afterwards to frame the home, get it under roof and finish the exterior work all through the winter months. This home in west Carmel that I previewed with clients today is just now completing the drywall stage. Portable gas heaters were keeping the temperature toasty inside to dry the water from the just finished drywall. All the interior finishes and fixturing can be done in even the coldest weather. This home should be completed by the end of next month.
Indy’s Tropical Destination
Posted on January 12th, 2012 by Richard. Categories: Entertainment
Looking for someplace to chase away this latest winter blast? White River Gardens might be the ticket. The Hilbert Conservatory is in tropical mode through Labor Day this year with the current exhibit OMG! Orchids with many varieties of colorful orchids, tropical plants and water features. Exploring a rain forest…Sounds good doesn’t it?
