Listing of the Day - Kirkwood MO

For more than 20 years, I have worked with realty agents and mortgage lenders regarding a variety of marketing and advertising matters, including writing literally thousands of individual property descriptions. In an effort to improve the impact of the marketing of listings, I randomly choose current listings around the country in a variety of price ranges and comment on their effectiveness. No current clients of mine are used, nor do I know any sellers or buyers or have any additional information about the property.


http://realestate.stltoday.com/RealEstate/Sales/Listing.asp?lid=183-90044619


(This is a 2 bed 2 bath condo in Kirkwood MO, near St. Louis, listed at $499,000)


The description as written for the realty office's web site and also used in the area's leading newspaper and its web site does not even come close to making this seem like a one-half million dollar property. That should be priority #1 for a condo of this magnitude.



Not every community allows a "walk to" comment, but my focus is more about the walk to "restaurants, the library, and fitness facilities". While I realize brand names are not practical, "restaurants" doesn't cut it. Someone in a half-million dollar condo doesn't care if they can walk to Burger King, but there is appeal in "close to fine dining" if that really applies. A library in proximity targets families with kids (with this unit being 2 bedrooms) or someone who likes to go to the library, which is no longer common in these days of in-home high speed internet.



Another sentence starts with "this third floor unit". The exterior photo shows this as a 3-story building. Yet, the description does not reinforce its top floor presence. Big difference from a marketing standpoint. Some potential buyers might prefer a top floor, especially in this price range. They might want to know there would be no noise from people walking above and/or that their unit would be difficult for someone off the street to get access to.



While pointing out about the "custom eat-in kitchen" as this description does is more fitting of a half-million dollar condo, I would question saying it is "custom" during this introduction. Some potential buyers might fear an unconventional design, challenges with kitchen furniture, and possibly wanting to replace or restore, before they finish reading the sentence. And there are no photos available of this "custom" kitchen to eliminate any such fears. Just saying "eat-in" kitchen would be a better incentive. Upon showing, THEN it becomes "custom".



We also read about the "large bedrooms and baths offering beautiful views of the area". I would either stop the sentence after "baths" or better explain the "beautiful views" if those views support a half-million dollar condo. If the bedrooms "overlook the pond and the sunset" (for example), you have a description befitting such a unit. If the views really overlook the parking lot and the garbage bins or the condos next door, then it doesn't need to pointed out at all.



Taking out those words and terms which do not reflect the magnitude of the property also would serve to allow more word space for pertinent information to the eventual buyer. We don't know if this is the "lowest priced top floor unit in the neighborhood", whether or not this could be an investment property (rentals?), or, frankly, what makes this property worth nearly one-half million dollars.



I would also be concerned about the "2 garage spaces" as worded. If it is merely a common garage space for all units this could be a negative. Two people or a family looking at a 2 bedroom condo in this price range would be much more likely to want a private garage where they can store much more than one or two cars and could leave them unlocked. If this really means a 2-car garage, that must be spelled out, especially if it is attached. Being able to get into the car and go without having to go outside is a big plus in the St. Louis market due to the humidity of summer and the cold of winter. This should be a difference between an $80,000 unit and a half-million dollar condo.



On a positive note, the use of the term "vibrant community" is very descriptive and would fit much better with more specific and helpful examples. The den being "for work, reading, or just relaxing" paints a nice picture. (However, it eliminates the need to walk to the library that uses up precious copy space.)



My grade: C+



Note: This commentary is uncompensated and for marketing purposes only and is no reflection on the featured property and is its accuracy is not guaranteed. Neither Dave Kohl nor First In Promotions shall be held responsible for any representations.

At this time, I have openings for more realty agent/office clients to critique current and brand new listings on an hourly basis. No current or past client listings are featured on this blog.Random listings are chosen around the country.


Your comments are most welcome!

Please check back often for more "Listing of the Day" critiques.

Listing of the Day - Aug. 30, 2009

For more than 20 years, I have worked with realty agents and mortgage lenders regarding a variety of marketing and advertising matters, including writing literally thousands of individual property descriptions. In an effort to improve the impact of the marketing of listings, I randomly choose current listings around the country in a variety of price ranges and comment on their effectiveness. No current clients of mine are used, nor do I know any sellers or buyers or have any additional information about the property.

http://www.estately.com/WA/Walla_Walla_County#listings/info/2507588

168 Ransom Rd., Walla Walla WA 3 + 2.25 $180,000

Frankly, the way this listing is presented is a perfect example of the need for this blog and marketing services specific to realty companies such as ours.

The copy begins by pointing out how this 3 bedroom home is authorized for a short sale. (And I’m not even going to address that the web page shows the property has been listed for more than 6 months.) Yet, each exterior photo, including the primary one, shows trees with few leaves and the lawn in poor shape. I first saw this listing in late August, yet the first photo I see from this “motivated seller” appears to be from no later than February.

Within the first paragraph of the description, there is a reference to the “generous views of the blue mountains”. Yet, the featured photo does not have any mountains in the background. Upon looking at all 7 photos shown by clicking through, I didn’t see so much as a single mountain or any such view.

Although I understand the intent of mentioning the “three stall shop”, this could be a limitation rather than an encouragement within this description. The “do it yourself” home owner or family that wants a workspace will be drawn to this. However, those who are not of that mindset finish reading that wondering if they would be paying thousands of dollars for a room or area that would not be of much use. Could this be used for or converted to an office, rec room, storage room, or guest room? Potential buyers want possibilities instead of possible limitations.

Meanwhile, this photo spread does little to nothing to enhance the property, in addition to failing to display any “mountain” views. As much as I preach about using interior photos more often and more prominently, the use of interior photos here backfires because the home is empty.

When looking at photos of an empty home, a potential buyer has no idea how furniture would appear, how much space there really is, or the true size of the room. A 3-bedroom home indicates a family living space and not a series of empty rooms. Showing an empty bedroom with a large window without curtains or any window coverings also poses a security threat. The months old photos of an empty home is the setting for a “squatters scam” in some parts of the country.

Although the description does point out the home’s proximity to Prospect Point School, potential buyers should be told whether this is an elementary or high school. Some families have toddlers while others have children of high school age, but one or both might be missing out on an ideal fit because of the lack of detail.

One other point about this and many listings from smaller or even medium sized towns, especially where properties are on the market for longer periods. This listing has no information about the community, other than the mention of a school. Chances are the buyer of this home will come from out of area. (If not, it would have happened by now.) And chances are this buyer also needs to be “sold” on advantages of moving to Walla Walla.

If this is a “fixer” and would appeal to an investor or builder, then the description should include one or more reasons why they should invest in this community.

There are both higher and lower priced 3 bedroom properties in the area, based on the search column on the right at the time of this review. Yet, potential buyers are not given enough reasons to make this the most attractive property. Again, chances are the buyer will come from out of the area. Why stop at this home?

Listing Grade: D

Note: This commentary is uncompensated and for marketing purposes only and is no reflection on the featured property and is its accuracy is not guaranteed. Neither Dave Kohl nor First In Promotions shall be held responsible for any representations.

At this time, I have openings for more realty agent/office clients to critique current and brand new listings on an hourly basis. No current or past client listings are featured on this blog.Random listings are chosen around the country.

Your comments are most welcome!

Please check back often for more "Listing of the Day" critiques.

Assisted care becoming more specialized

There are times when specialization, whether in real estate or any industry, can get overblown. Kind of like in baseball where we now have the closer, the set-up man, the "hold", and the "one batter" specialist. To many, it all means relief pitcher.

Yet, in the case of assisted living, there is merit for a new specialization. Assisted living is now taking on added responsibilities in some cases. There are instances where clients are aged to the point of needing help with getting around and doing the everyday chores. In addition, some elderly people have special needs and/or are in recovery from surgery and need additional regular care. And, unfortunately for some, there are mental concerns to be dealt with.

This is why I was glad to read about the new development by a company called Signature Senior Living LLC in Texas. They have broken ground on a reported 58,000 square foot facility in Conroe TX which will have 79 individual units. Their plans already have determined that 55 of the units will be "assisted living" while 24 units are being designated for "memory care residents".

In this instance, specialty is a very important step. I have friends currently dealing with older family members with some stage of dementia with parents or relatives. It is nice to know that care facilities are starting to exist which will specifically be fit to handle this.

Furthermore, if marketed properly, this company (and other builders like it) will have an important marketing niche to fill space in their assisted care properties. As seniors get older and older, it would be reassuring for people to know when placing older parents into an assisted care facility that if a memory problem were to occur they would have not have to totally relocate.

Good call.

The Listing of the Day series begins........

Every home is unique. People live exactly where they do for a number of reasons. For every home there is a story behind how and what made it that particular home.

In my 20+ years of experience working with realty agents and mortgage lenders on a regular basis has let me see, close up, how a variety of properties are presented and marketed. I would estimate that I have personally written more than 12,000 unique property descriptions. These range from single family homes and condos to commercial and investment properties from all around the country in all price ranges.

These descriptions have been used for everything from telephone hotlines to online to newspapers and magazines to radio and TV to flyers to listings books for real estate organizations.

However, at this point in time, fewer advertisements and property descriptions are successful than before. Listings are not selling at all or as quickly as they did years ago. Yet, it still takes one buyer to make it a successful transaction.

A retailer might need at least 10 sales per day, all to different people, to have a successful day. A service business may need at least 1 "order" per day, also from a different person or business each day, to be successful. Their sales and marketing efforts are directed toward attracting a large number of customers or clients on a consistent basis.

Some of you reading are probably ready to comment that they economy stinks and how many buyers can't get the financing to buy a home. That is true, but every day somebody is successfully purchasing a property in your area.

I see the realty associations and their statistics about how home sales have dipped over the past year or two. As I have so often commented, I instead see how many hundreds or even thousands of properties sold within that realty association's territory within the past month.

Again, a property only needs 1 buyer, not 20, to become a successful sale.

In other words, marketing and advertising means everything in this climate. I continue to find fault with how the majority of properties are first presented to potential buyers. First impressions are everything.

Part of my experience has consisted of helping realty agents to enhance their listing presentations. They have to show the seller why he/she is better qualified than the other agents they are considering to handle the sale of their property. Needing only 1 buyer.

Yet, they secure the listing and then treat it like any other. As if writing the description for ads is a simple formula. Frankly, it shows in more and more cases. In a market where homes would be on the market for 3 days if priced right, it doesn't matter as much. But in this climate, it matters more than ever.

Even when I have had to write as many as 50 separate property description ads in one day, I always make it a point to make every property unique. I never used a written template and filled in the blanks like it appears some agents do.

Part of my secret is that I would read descriptions of other similar properties for sale, often in different areas, and then be certain I come up with better selling points than the others. When doing this for clients, I use the same practices, even though there have been times I have lost realty agents as clients because I make what they perceive as too many changes in what they wrote.

For my next step, I am taking an idea I have been using for myself over the past few weeks and going public with it. I have begun to randomly select a "Listing of the Day" from different parts of the country and in different price ranges.

At least 3 times per week, I plan to present my critique of that listing description as it appears in at least one place to the public, and publish it on my blog.

Here is my hope:

1) Consumers who read these will keep these comments in mind when it comes time to select a realty agent to help sell their unique property, and be sure they get the best representation.

2) Agents who read these will make notes and improve the marketing approach for the listings they have now and secure in the future.

Since I feel as though I have written more property descriptions than the vast majority of realty agents (and I do not have a real estate license|) and have a 20+ year marketing background specific to real estate, I feel that my efforts can make a difference in picking up the real estate market.

Please note that the properties I will feature are randomly selected and will not be from any agent who is or has been a client of mine. As of this time, I do have openings for realty agents and offices to provide listing marketing critiques on an hourly rate basis.

Your comments are always welcome. We can all work together to get these properties sold much faster than the current market pace.

Hands free devices - but only in school zones?

I understand the intent of a new law, even if there are some inconsistencies. A regulation goes into effect next Tuesday (Sept. 1) in Texas requiring motorists to use a "hands free" device for phone calls, texting, and e-mails - but this law impacts school zones.

Anyone caught doing so within a school zone is subject to fine.

However, the various cities and counties need to post a sign at the entrance to a "school zone". While the majority are already indicated, this will mean additional costs for some cities and counties in the state.

Personally, count me among those who question the message this law sends. Us "older" folks will hopefully take this to mean extra steps to protect children. But I'm afraid that too many of the younger set, for whom the law is most intended, will do their own interpretation and think it OK to text and call and read their handheld devices when "outside" of a school zone. They will see it in the same category as "No ice cream after 9 PM" and go for 2 scoops at 6:00.

From a real estate standpoint, this could hold value for realty agents in the marketing of listings, and add appeal to potential buyers with young children.

A young family could then purchase a home down the block from a school and live in "a safety zone". According to this new law, their home would technically be "safer" than a similar home literally a block away (which happens to be outside of the school zone).

Will we see price increases for multiple bedroom homes located in or across from a school "safety zone"?

If it could result in a price increase and/or perceived as increased value for homes within these zones, how soon before this becomes a sales and negotiation point? This is different from zoning change requests, challenges to neighborhood boundaries, and other such attempts to impact local property values. Different because a home can't suddenly be included within a "school zone".

Thus, some current homeowners could have the luck of the draw and have one more sales feature than a neighbor further down the block. All because people are being told where they can text and call from with both hands on the wheel. There are no expressways or interstate highways which are considered part of a school zone, and that is the case all over and not just in Texas.

In reading up on this law, I didn't see anything indicating this is only a start toward banning texting or calling unless it is a hands free device in other places.

Just as bad, this regulation targets motorists. They will still have to be on alert for students walking across the street who are texting their friends.

That should want to make them call or text their local politicians. Even if they have to do it while driving on the expressway...................

The auction process continues to grow and grow.......

The auction process continues to grow throughout the country, and it is not always due to foreclosure or REO's. Not at all. Residential auctions are now available to single family home owners willing to price their home right and looking to sell within a fixed time period to a qualified bidder.

Yet, most "local" real estate companies have yet to get on the bandwagon. The same offices faced with price reductions and homes on the market for 6 months and longer.

The link below is to a news story about a duplex sold at auction in Ohio. What makes this auction success so significant?

http://www.farmanddairy.com/news/duplex-sells-for-92400-at-auction/12831.html

The auction company which handled this property does not even specialize in real estate auctions. Did you see the other items sold at this auction?

I'll make my point again. Most realty firms still have not come on board to offer auctions as another avenue to expedite the sale of their listings. At the same time, companies lacking in real estate expertise are already conducting successful property auctions.

Earlier this week, Statler Towers, which is a legendary hotel and office building in Buffalo's Niagara Square, was sold for $1.3 million dollars. How? At an auction that had a bidding war - for a million dollar property. The winning group has already announced that they are beginning renovation work in September. As in next month.

I see where United Country Certified Real Estate Auction Services now plans to auction off more than 9,000 acres in Florida and Georgia, all by the end of this month.

Farm land in Illinois might be a challenging sale these days, but this is an example of how to attract attention:

http://www.earthtimes.org/articles/show/approximately-1600-acres-of-illinois-farmland-set-for-sept-10-auctions,925068.shtml

The above link is about a September auction of farm land.

Personally, after 20 years of continuously working with realty agents and mortgage lenders on marketing and advertising concepts, I find the auction possibility to be perhaps the most exciting innovation to come along in years. Individual home sellers can be involved in a sale by auction, with or without a realty agent. Individual realty agents, offices, or firms can receive complete support and local exclusivity to handle local auction sales. More importantly, qualified potential buyers can bid to their maximum on properties and know immediately if they are successful.

We can all move to add this component, or continue to dwell in the negative home sale and real estate statistics the media bombards us with every week.

If you need help getting involved in the property auction process, whether as a buyer or seller, please let me know.

Arizona property tax scam

It looks as though the real estate scam artists are now targeting parts of Arizona with an advertising solicitation designed to look "official" with regard to a "2009 property tax reduction review". Not only has the state's deadline for appeals for 2009 property taxes already past, but this company seeks a $189 "processing fee".

Fortunately, Arizona Atty. General Terry Goddard has issued a warning to the state's homeowners, although it is not yet known how many homeowners may have already fallen for this scheme.

Since I don't know how a scammer thinks, I would think that now that a warning has been issued in their targeted area, these crooks would start to target other areas. If you are a home owner, please be aware that such a scam exists. If you are a real estate or mortgage professional anywhere in the country, you may wish to warn your client base about what has happened in Arizona.

It is a helpful way to get your name and your services across to your client base.