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.
2 Rimrock Ct. Columbus GA 3 + 2 $176,500
http://www.homefinder.com/GA/Columbus/53434353d_2_Rimrock_Ct
http://www.coldwellbanker.com/servlet/PropertyListing?action=detail&ComColdwellbankerDataProperty_id=71758252&page=property
The only thing I can gather from this advertisement is that neither the seller nor the agent cares if this home ever sells. I found the first ad linked via the Columbus newspaper's web site, listed among several others listed within that same price range.
At first I thought that this listing agent must not have known that this listing was even appearing to the public when I clicked on the Coldwell Banker office link for the ad of this same property (shown here as the 2nd link). I very rarely show a 2nd link, figuring that a potential buyer wouldn't go that far. To my amazement, the office site has the same lack of information.
Incredibly, both "advertisements" to the public refer only to showing the home and to not let the pets out of the gate. I was going to give some credit to the ad on the Coldwell Banker office site showing several photos. However, there are problems with those. One of them is with the garage door open and shows 2 vehicles parked inside. This creates a security risk for the property by enabling the public to see the cars by the people who live there. It is wrong to publish those.
One of the interior photos shows only an excercise machine on a wood floor (I couldn't even see a mat) with no other furniture. Of course, we have no idea whether or not the excercise machine comes with the house. Others are taken at poor angles.
Combine this with absolutely no description, no "sizzle" to bring out selling points, and nothing about the neighborhood or unique amenities, and you have a total disaster of an advertisement.
There is absolutely no reason for anyone to follow up about this home. Sorry, but the only viewers who could benefit from this ad are criminals.
GRADE: F
Note: This commentary is uncompensated and for marketing purposes only and is no reflection on the featured property. 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!
Showing posts with label columbus. Show all posts
Showing posts with label columbus. Show all posts
Tuesday, February 9, 2010
Tuesday, December 23, 2008
Looking ahead to 2009
I'm looking for things to pick up very soon in the real estate marketplace. Maybe, just maybe, all of this will weed out the "I'll sell only if I can get a high enough price" sellers and have the serious sellers with properties on the market at fair value.
On the mortgage lender side, I see a need for the lenders to increase their role and become more of a consultant or advisor to home owners and first time buyers. Too many lenders, which frankly includes some of my clients around the country, have gone to a "today" mentality and not thinking long term. Whether or not this is really the case, some come across with the attitude of "If I can't do this deal right now, I don't care about later on". And this will hurt them in the long run.
Even as some lenders have closed their doors, there are still plenty out there. Don't ever forget this. The lower mortgage rates are prompting some home owners to check with their previous lender about the possibility of refinancing. However, their home might not currently be worth enough to make a refinance worthwhile, such as when the market value of the home drops to the point where it goes below the current equity. I already know of lenders who make this discovery and then fail to handle it properly.
"Properly" means addressing this head on with the potential client, letting him/her/them know that you will be watching the marketplace and area property values and rates with an eye toward the first available opportunity to make it worthwhile. Make a note to follow up with them every 45 days or so no matter what.
Chances are that homeowner will start watching on his/her/their own. And if you have not indicated a responsible follow up, chances are they won't feel obligated. Do not overlook how today's work can produce benefits months from now instead of thinking it won't help you next week and forgetting a once solid potential deal. Six months from now you could be "that guy who never called back and couldn't do it" OR you could be the "guy who we used before and told us last month this could be the time". Some lenders think that "we get referral business", but a negative referral doesn't count.
If you are a home owner (consumer), you can and should do your homework. You already know what rate you are now paying. A rate lowering even 3/4 of a percentage point could mean a $150 or more per month decrease in your monthly mortgage. If the last mortgage lender you used hasn't been in contact with you, do your homework. Start checking area sales for property values. If your home is still worth close to or more than its original value, you have a great opportunity to shop for the true best deal out there that fits your needs. You do have a choice.
And if you are a realty agent, a consumer interested in a refinance who maybe can't get one just might be a candidate to move to a "better" property for the same or less on their mortgage. You can certainly help to keep your previous clients posted on trends in their area for very much the same purpose. If you are not keeping in contact, you add to the negative beliefs about the current marketplace.
Speaking of which, one more gripe session for this year about how the real estate industry is, unfortunately, helping to fuel the negative publicity about the marketplace. This time with more proof to make my point.
For November, 1100 homes sold in the Columbus OH area. As a stand-alone, that is actually an impressive statistic. Yet, here's how the member based realty association presents it:
http://www.bizjournals.com/columbus/stories/2008/12/22/daily2.html?ana=from_rss
In the Pittsburgh PA area, 1,800 homes sold during November, but here is how it was reported:
http://pittsburghlive.com/x/valleyindependent/news/s_604041.html?source=rss&feed=30
In Houston, 3,900 properties sold in the one month period, but it comes out like this:
http://www.bizjournals.com/houston/stories/2008/12/22/focus5.html?ana=from_rss
Nearly 1,000 homes sold in Austin TX, yet it is made to look like nothing:
http://www.statesman.com/news/content/business/stories/realestate/12/19/1219homesales.html?cxtype=rss&cxsvc=7&cxcat=3
And don't think this is only for bigger cities. Almost 300 properties sold last month in Erie PA. That's an average of 10 a day including weekends in a smaller market, and that is impressive. Until you read it this way:
http://www.goerie.com/apps/pbcs.dll/article?AID=/20081221/NEWS02/312219878
And I could go on.............
If I were paying dues to any of these (and other) realty associations, I'd be strongly suggesting that some of my dues money go toward a publicity writer.
Have a great holiday !!
On the mortgage lender side, I see a need for the lenders to increase their role and become more of a consultant or advisor to home owners and first time buyers. Too many lenders, which frankly includes some of my clients around the country, have gone to a "today" mentality and not thinking long term. Whether or not this is really the case, some come across with the attitude of "If I can't do this deal right now, I don't care about later on". And this will hurt them in the long run.
Even as some lenders have closed their doors, there are still plenty out there. Don't ever forget this. The lower mortgage rates are prompting some home owners to check with their previous lender about the possibility of refinancing. However, their home might not currently be worth enough to make a refinance worthwhile, such as when the market value of the home drops to the point where it goes below the current equity. I already know of lenders who make this discovery and then fail to handle it properly.
"Properly" means addressing this head on with the potential client, letting him/her/them know that you will be watching the marketplace and area property values and rates with an eye toward the first available opportunity to make it worthwhile. Make a note to follow up with them every 45 days or so no matter what.
Chances are that homeowner will start watching on his/her/their own. And if you have not indicated a responsible follow up, chances are they won't feel obligated. Do not overlook how today's work can produce benefits months from now instead of thinking it won't help you next week and forgetting a once solid potential deal. Six months from now you could be "that guy who never called back and couldn't do it" OR you could be the "guy who we used before and told us last month this could be the time". Some lenders think that "we get referral business", but a negative referral doesn't count.
If you are a home owner (consumer), you can and should do your homework. You already know what rate you are now paying. A rate lowering even 3/4 of a percentage point could mean a $150 or more per month decrease in your monthly mortgage. If the last mortgage lender you used hasn't been in contact with you, do your homework. Start checking area sales for property values. If your home is still worth close to or more than its original value, you have a great opportunity to shop for the true best deal out there that fits your needs. You do have a choice.
And if you are a realty agent, a consumer interested in a refinance who maybe can't get one just might be a candidate to move to a "better" property for the same or less on their mortgage. You can certainly help to keep your previous clients posted on trends in their area for very much the same purpose. If you are not keeping in contact, you add to the negative beliefs about the current marketplace.
Speaking of which, one more gripe session for this year about how the real estate industry is, unfortunately, helping to fuel the negative publicity about the marketplace. This time with more proof to make my point.
For November, 1100 homes sold in the Columbus OH area. As a stand-alone, that is actually an impressive statistic. Yet, here's how the member based realty association presents it:
http://www.bizjournals.com/columbus/stories/2008/12/22/daily2.html?ana=from_rss
In the Pittsburgh PA area, 1,800 homes sold during November, but here is how it was reported:
http://pittsburghlive.com/x/valleyindependent/news/s_604041.html?source=rss&feed=30
In Houston, 3,900 properties sold in the one month period, but it comes out like this:
http://www.bizjournals.com/houston/stories/2008/12/22/focus5.html?ana=from_rss
Nearly 1,000 homes sold in Austin TX, yet it is made to look like nothing:
http://www.statesman.com/news/content/business/stories/realestate/12/19/1219homesales.html?cxtype=rss&cxsvc=7&cxcat=3
And don't think this is only for bigger cities. Almost 300 properties sold last month in Erie PA. That's an average of 10 a day including weekends in a smaller market, and that is impressive. Until you read it this way:
http://www.goerie.com/apps/pbcs.dll/article?AID=/20081221/NEWS02/312219878
And I could go on.............
If I were paying dues to any of these (and other) realty associations, I'd be strongly suggesting that some of my dues money go toward a publicity writer.
Have a great holiday !!
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