The upscale Chicago area suburb of Barrington has an interesting marketing ploy. You can bid on 3 homes later this week starting at $1 each, but you buy the house itself and would have to move it to other land.
http://www.dailyherald.com/story/?id=324957
I can see it now. The agent asks a potential buyer "Will this be for here or to go?".
But seriously folks, it is good to see some marketing innovation on the real estate scene these days. Doing this attracts attention to the high value of property in that suburb and is good publicity for the brokers surrounding it.
The thing to do is to keep this in the news.
Tuesday, September 29, 2009
Monday, September 28, 2009
Listing of the Day - Shaker Heights OH
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.
21249 Colby Rd Shaker Heights, OH 44122 $297,000 3 + 2.5
http://realestate.cleveland.com/RealEstate?classification=real+estate&temp_type=detail&tp=RE_cleve&property=cleveland.com&finder=buy&ad_id=287746080
This home is not the most or least expensive property in this area, yet this ad makes all of the necessary selling points.
Excellent use of photos, with only 1 of 8 available being an exterior shot. The primary photo is the exterior one, and it draws a potential buyer's interest by showing off the nice landscaping and gardening, along with the well kept up look and feel. You can instantly tell this home is well kept up and looks lived in.
As the potential buyer reaches the point of decision, the ad moves in the right direction for either choice. Those who initially go to the photo spread can immediately tell they have a spread of interior photos, while the important description copy guides them properly through the best selling points.
Each of the interior photos is carefully chosen. There is enough furniture and items on display to give us a true indication of how nice the interior can look, rather than a cluttered appearance.
What I like even more is how the photos show windows and brightness in each room. It is an excellent example of showing it without saying it.
Just below, the all-important description portion presents non-stop selling points. The style, the street, the fireplace, the porch, the yard, the storage space, the library, and the "oversized" bedrooms.
Even the "convenient to shopping and restaurants" is well placed at the end of the description. Just as an interested potential buyer (which they are having looked and read this far) would feel good about the home and start to wonder about its location, they now learn that this property is not out in the middle of nowhere. Good timing.
One more plus to this listing ad. It is focused on the property and not the agent. At first impression, it is far more important to determine whether or not the property is a potential fit than to know who is representing it.
However, in this instance there is actually too little information about the listing agent. From my having created, looked at, and listened to thousands and thousands of property descriptions over the years, it is very very rare that I have to point out when there is not enough information about the agent.
All that is shown on this listing ad is the name of the firm. No phone number or contact information. (I actually had to take the time to seek out the realty firm's web site and track down the name of the listing agent on this property.)
Other listings shown on this search do have contact information, so this is the fault of the agent. A potential buyer should not have to take extra steps to make a contact after having looked at and read this well orchestrated advertisement for this home. Once I have to click elsewhere, I am immediately exposed to other homes and other agents.
If I were a potential buyer and called some other agent because it is easier, there is a darn good chance the agent listing this property would never know it. Another agent would most likely present additional options to that potential buyer. It hurts to see a property ad which is so well done, but suffers because of the lack of a call to action. One phone number placed above the primary photo would have made this a "A" grade listing.
Did you ever watch a "great" commercial or show, start telling someone about it, and then you can't remember the name or the network showing it? If you have, you know how the person or people you are telling will say, "Then it couldn't have been that great if you don't remember where it was". That applies here.
Grade: B-But in this instance, add the contact information, and I would change it to "A".
(There was no agent name, phone, or other contact information as of 8 PM September 27, 2009.)
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.
21249 Colby Rd Shaker Heights, OH 44122 $297,000 3 + 2.5
http://realestate.cleveland.com/RealEstate?classification=real+estate&temp_type=detail&tp=RE_cleve&property=cleveland.com&finder=buy&ad_id=287746080
This home is not the most or least expensive property in this area, yet this ad makes all of the necessary selling points.
Excellent use of photos, with only 1 of 8 available being an exterior shot. The primary photo is the exterior one, and it draws a potential buyer's interest by showing off the nice landscaping and gardening, along with the well kept up look and feel. You can instantly tell this home is well kept up and looks lived in.
As the potential buyer reaches the point of decision, the ad moves in the right direction for either choice. Those who initially go to the photo spread can immediately tell they have a spread of interior photos, while the important description copy guides them properly through the best selling points.
Each of the interior photos is carefully chosen. There is enough furniture and items on display to give us a true indication of how nice the interior can look, rather than a cluttered appearance.
What I like even more is how the photos show windows and brightness in each room. It is an excellent example of showing it without saying it.
Just below, the all-important description portion presents non-stop selling points. The style, the street, the fireplace, the porch, the yard, the storage space, the library, and the "oversized" bedrooms.
Even the "convenient to shopping and restaurants" is well placed at the end of the description. Just as an interested potential buyer (which they are having looked and read this far) would feel good about the home and start to wonder about its location, they now learn that this property is not out in the middle of nowhere. Good timing.
One more plus to this listing ad. It is focused on the property and not the agent. At first impression, it is far more important to determine whether or not the property is a potential fit than to know who is representing it.
However, in this instance there is actually too little information about the listing agent. From my having created, looked at, and listened to thousands and thousands of property descriptions over the years, it is very very rare that I have to point out when there is not enough information about the agent.
All that is shown on this listing ad is the name of the firm. No phone number or contact information. (I actually had to take the time to seek out the realty firm's web site and track down the name of the listing agent on this property.)
Other listings shown on this search do have contact information, so this is the fault of the agent. A potential buyer should not have to take extra steps to make a contact after having looked at and read this well orchestrated advertisement for this home. Once I have to click elsewhere, I am immediately exposed to other homes and other agents.
If I were a potential buyer and called some other agent because it is easier, there is a darn good chance the agent listing this property would never know it. Another agent would most likely present additional options to that potential buyer. It hurts to see a property ad which is so well done, but suffers because of the lack of a call to action. One phone number placed above the primary photo would have made this a "A" grade listing.
Did you ever watch a "great" commercial or show, start telling someone about it, and then you can't remember the name or the network showing it? If you have, you know how the person or people you are telling will say, "Then it couldn't have been that great if you don't remember where it was". That applies here.
Grade: B-But in this instance, add the contact information, and I would change it to "A".
(There was no agent name, phone, or other contact information as of 8 PM September 27, 2009.)
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.
Monday, September 21, 2009
Listing of the Day - St. Paul MN
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.
1302 Hauge Ave, St. Paul MN 4 Bedrooms 1 Full Bath $234,500
http://homes.startribune.com/for-sale/listing/41022-3807255/Saint-Paul-MN-USA/2-sbeds/1-sbaths/SINGLE-FAMILY-HOME-type/200000-300000-price/40102-3822671--41366-3648559--41031-3691934--40259-121555--41022-3807255--41101-3834354-ls/6-t
It is not the fault of the agent that the primary exterior photo we see first adds lines to the exterior and makes it look as though the lower right corner is a few boards of wood that are falling apart. (Let alone that the primary exterior shot was taken on a rainy day, adding a dreary look to a $234,000 property.) Then I looked at the other photos and found that the interior photos are all excellent selling points. However, some potential buyers would see the primary photo and not even bother to take the time to look at the rest. So it is the fault of the agent that the interior photos are not the primary ones we see first.
Since I did take a look at the interior photos and find that those detail the strength of this house, I also find fault with the property description paragraph having the majority of the copy about the exterior.
Worse yet, the proof is there that the agent failed to revise the copy for this ad. In this instance, I found and chose this ad by going through the Star-Tribune web site, which is one of the two major newspapers serving the Twin Cities. This agent paid a pretty penny to advertise there.
That alone should be cause to seriously review the copy before being published.
Take another look at the last 2 sentence fragments in the "Property description" box. They say "QUICK POSS!" and "EASY TO SHOW".
The average potential buyer has no idea what "quick poss" means. Not only a waste of money for words that will not entice, but it leaves a potential buyer (who has stuck with it this long) with something that confuses them instead of enticing them to continue reading and looking. The "easy to show" reference is not relevant to a potential buyer.
Since I am not a potential buyer, I realize what happened. The agent, or assistant, and/or someone representing this agent, took the same copy that appears to other agents and ran it in the Star-Tribune. Those last 2 phrases are supposed to only tell other agents the home can be shown easily and is ready for quick possession. Other agents understand the terminology.
But this advertisement is not for other agents. It is supposed to be for potential buyers to get them excited and make them want to see it. Or at the very least contact the agent with more questions.
As it is, a 4 bedroom house with only 1 bathroom is enough of a challenge in this day and age. There is every need to showcase the nice interior, which would give the potential buyers the image that a large family would enjoy being inside.
We are told this is in a "super location" with "access to everything". But we are not given any details. Mall? Schools? Transportation? Airport? Expressway?This is written that way because local realty agents would already know the address and what is in the area. However, since this advertisement is not written for whom it is intended, the majority of potential buyers are not given the opportunity for a crucial selling point.
A potential buyer that has a family with 3 or more children won't know if the property is near the school. A potential buyer with a grown family or in-laws won't know if the home is near a bus line or shopping.
However, a potential buyer is not given any incentive to pursue more information.
Advertising is supposed to be constructed in order to reach the target audience. In this instance, it is not other realty agents, who could find this out by looking at the MLS.
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!
1302 Hauge Ave, St. Paul MN 4 Bedrooms 1 Full Bath $234,500
http://homes.startribune.com/for-sale/listing/41022-3807255/Saint-Paul-MN-USA/2-sbeds/1-sbaths/SINGLE-FAMILY-HOME-type/200000-300000-price/40102-3822671--41366-3648559--41031-3691934--40259-121555--41022-3807255--41101-3834354-ls/6-t
It is not the fault of the agent that the primary exterior photo we see first adds lines to the exterior and makes it look as though the lower right corner is a few boards of wood that are falling apart. (Let alone that the primary exterior shot was taken on a rainy day, adding a dreary look to a $234,000 property.) Then I looked at the other photos and found that the interior photos are all excellent selling points. However, some potential buyers would see the primary photo and not even bother to take the time to look at the rest. So it is the fault of the agent that the interior photos are not the primary ones we see first.
Since I did take a look at the interior photos and find that those detail the strength of this house, I also find fault with the property description paragraph having the majority of the copy about the exterior.
Worse yet, the proof is there that the agent failed to revise the copy for this ad. In this instance, I found and chose this ad by going through the Star-Tribune web site, which is one of the two major newspapers serving the Twin Cities. This agent paid a pretty penny to advertise there.
That alone should be cause to seriously review the copy before being published.
Take another look at the last 2 sentence fragments in the "Property description" box. They say "QUICK POSS!" and "EASY TO SHOW".
The average potential buyer has no idea what "quick poss" means. Not only a waste of money for words that will not entice, but it leaves a potential buyer (who has stuck with it this long) with something that confuses them instead of enticing them to continue reading and looking. The "easy to show" reference is not relevant to a potential buyer.
Since I am not a potential buyer, I realize what happened. The agent, or assistant, and/or someone representing this agent, took the same copy that appears to other agents and ran it in the Star-Tribune. Those last 2 phrases are supposed to only tell other agents the home can be shown easily and is ready for quick possession. Other agents understand the terminology.
But this advertisement is not for other agents. It is supposed to be for potential buyers to get them excited and make them want to see it. Or at the very least contact the agent with more questions.
As it is, a 4 bedroom house with only 1 bathroom is enough of a challenge in this day and age. There is every need to showcase the nice interior, which would give the potential buyers the image that a large family would enjoy being inside.
We are told this is in a "super location" with "access to everything". But we are not given any details. Mall? Schools? Transportation? Airport? Expressway?This is written that way because local realty agents would already know the address and what is in the area. However, since this advertisement is not written for whom it is intended, the majority of potential buyers are not given the opportunity for a crucial selling point.
A potential buyer that has a family with 3 or more children won't know if the property is near the school. A potential buyer with a grown family or in-laws won't know if the home is near a bus line or shopping.
However, a potential buyer is not given any incentive to pursue more information.
Advertising is supposed to be constructed in order to reach the target audience. In this instance, it is not other realty agents, who could find this out by looking at the MLS.
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!
Friday, September 18, 2009
Listing of the Day - Murrells Inlet SC
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.
1020 Vestry Drive, Murrells Inlet, SC $195,000
http://www.postlets.com/res/2728954
This listing ad needs a massive overhaul. The positive selling points that are featured are quickly negated by the presentation, while some other important positive sales points are nowhere to be found.
A buyer of this home will most likely come from out of the area. Yet, there is not one mention anywhere in this ad to let potential buyers know that the home is located near Myrtle Beach.
Affluent people from states further north would consider this price range and a newer home to be a plus in such a resort community.
How do I know the buyer will most likely be from out of area? Because the first impression we get tell us this is a "model home". In many instances a successful development will have investors on a list to be notified when the model becomes available. Obviously, there either weren't any or if there were something scared them off.
We can also tell it is a model home because the primary picture has nothing to make the home appear lived in. No window decorations, no plants in front, and nothing to show what it would look like if a family lived there. 0 for 2.
Model homes are perceived differently by a lot of potential buyers vs. those which are not. Some see the positive such as usually a lower price than the other units and often a prime location within a development. Others see possible negatives, such as concerns about wear and tear from countless numbers of people walking through, along with security concerns since many people know exactly where bedrooms, closets, appliances, and electrical outlets are.
Worse yet, EVERY photo bears out that it is a model home. As much as I preach for interior shots in listing advertisements, it defeats the purpose when they portray empty rooms. Potential buyers have no idea how a set of furniture would look in proportion, and thoughts turn to having to measure, select a color scheme, and take additional steps in order to make the property an individual expression. As nice as the swimming pool looks in the photo, the impact is reduced since there are no chairs or furniture to distinguish it and make it appear comfortable for family use.
The top description begins with "former model home". While the "heated and cooled garage" and "lush landscaping" are great selling points and the photo bears those out, the "window treatments and blinds" part of the description lacks credibility because of the photo. (The exterior shot makes this place look totally empty.) A serious potential buyer would probably notice that the photo and description do not jive.
Then, the lower "description" portion merely rewords the same thing as above. This not only blows a crucial opportunity to further entice a potential buyer, but again mentions "model home" before recapping the couple of positive selling points that are actually shown.
Usually, I like the "closer in" use of Google Maps in terms of setting the location. This map does show proximity to a golf course and a mall. (It took my looking at the map to pull out a couple more selling points not shown in the repeated description.) But in this instance, it might benefit to set this home location back one notch to show proximity to the beach itself. For an out of area potential buyer, distance from the actual beach would be a consideration. Since the map doesn't show it (without a potential buyer taking extra steps - and I'm betting that he or she isn't sticking around on this page long enough to realize that opportunity), I have no way of knowing if this home is miles away or, for example, "7 minutes from the beach".
This home looks to be well priced and have its selling points. If only this were a "model" listing advertisement.............
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!
1020 Vestry Drive, Murrells Inlet, SC $195,000
http://www.postlets.com/res/2728954
This listing ad needs a massive overhaul. The positive selling points that are featured are quickly negated by the presentation, while some other important positive sales points are nowhere to be found.
A buyer of this home will most likely come from out of the area. Yet, there is not one mention anywhere in this ad to let potential buyers know that the home is located near Myrtle Beach.
Affluent people from states further north would consider this price range and a newer home to be a plus in such a resort community.
How do I know the buyer will most likely be from out of area? Because the first impression we get tell us this is a "model home". In many instances a successful development will have investors on a list to be notified when the model becomes available. Obviously, there either weren't any or if there were something scared them off.
We can also tell it is a model home because the primary picture has nothing to make the home appear lived in. No window decorations, no plants in front, and nothing to show what it would look like if a family lived there. 0 for 2.
Model homes are perceived differently by a lot of potential buyers vs. those which are not. Some see the positive such as usually a lower price than the other units and often a prime location within a development. Others see possible negatives, such as concerns about wear and tear from countless numbers of people walking through, along with security concerns since many people know exactly where bedrooms, closets, appliances, and electrical outlets are.
Worse yet, EVERY photo bears out that it is a model home. As much as I preach for interior shots in listing advertisements, it defeats the purpose when they portray empty rooms. Potential buyers have no idea how a set of furniture would look in proportion, and thoughts turn to having to measure, select a color scheme, and take additional steps in order to make the property an individual expression. As nice as the swimming pool looks in the photo, the impact is reduced since there are no chairs or furniture to distinguish it and make it appear comfortable for family use.
The top description begins with "former model home". While the "heated and cooled garage" and "lush landscaping" are great selling points and the photo bears those out, the "window treatments and blinds" part of the description lacks credibility because of the photo. (The exterior shot makes this place look totally empty.) A serious potential buyer would probably notice that the photo and description do not jive.
Then, the lower "description" portion merely rewords the same thing as above. This not only blows a crucial opportunity to further entice a potential buyer, but again mentions "model home" before recapping the couple of positive selling points that are actually shown.
Usually, I like the "closer in" use of Google Maps in terms of setting the location. This map does show proximity to a golf course and a mall. (It took my looking at the map to pull out a couple more selling points not shown in the repeated description.) But in this instance, it might benefit to set this home location back one notch to show proximity to the beach itself. For an out of area potential buyer, distance from the actual beach would be a consideration. Since the map doesn't show it (without a potential buyer taking extra steps - and I'm betting that he or she isn't sticking around on this page long enough to realize that opportunity), I have no way of knowing if this home is miles away or, for example, "7 minutes from the beach".
This home looks to be well priced and have its selling points. If only this were a "model" listing advertisement.............
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!
Thursday, September 17, 2009
Listing of the Day - Montgomery AL
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.
6619 Meadow Lark Drive, Montgomery, AL $161,900
http://www.postlets.com/res/2760035
A potential buyer gets a very good first impression of this listing. The photos enhance the property, while the lists and description copy each contain a nice variety of selling points.
This photo spread is one of the better ones. I like the balance of 3 exterior and 3 interior shots, especially since both have good selling points. (Some properties are much better inside than outside and vice versa.) The only one I question is the one of the patio. Not the photo itself, but not having chairs and/or plants, a grill, a hanging light, or anything to show a potential buyer what the patio looks like in use takes away the functionality. For example, if the patio is shown with a grill on it, a potential buyer that does not grill could create their own vision of how they might change it if it becomes their home. One that does grill would be pleased to know they will have the ability to do so. Whereas having nothing on the patio makes me wonder if there really is enough space to appeal to a new owner.
I have a slight concern about the condition of the lawn in the primary photo of the front of the exterior since it looks worn in several spots, given that this listing is up at the end of summer when the lawn should be at its peak appearance.
The list description at the top is very good, highlighting the relative newness of the home and it having a 2 car attached garage (easily noted based on the description and the primary photo). I also like how the upper description segment profiles the exterior, while the lower description provides a good mix of information.
Features such as the "double vanity in both baths" and the "garden tub" in the master bedroom are unique and excellent selling points for the interior. These add a touch of luxury not often found in a home priced under $200,000 on a big lot. A definite plus. Adding that the area is "adjacent to Somerhill" is (probably) a good idea. Although I know nothing about Somerhill, I would think that a potential buyer looking in that area probably knows.
However, saying "separate dining & laundry rooms" takes some of the air out of the balloon. I would hope that people don't eat next to the washing machine. Mistakes happen, but someone should have caught it by the time I saw this ad. It could cause a potential buyer taking a serious initial look at this ad and another home in the same area to be hesitant to contact this agent first.
The "Property Features" bullet points below are quite strong, hitting on the fireplace, central air, and breakfast nook among other solid selling points. There is also one of the better uses of Google Maps, giving the potential buyer a reasonable view of the major roads that lead in. Many of the maps on property descriptions are not accurate, too far out, or require clicks and steps to navigate.
Overall, this listing ad is thought out and well put together. The photos enhance, the positive points are well distributed and reinforced, and this ad will help sell the home. Something to show a patio and taking out the laundry reference are all that is needed to make this an "A" listing.
Grade: B+
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!
6619 Meadow Lark Drive, Montgomery, AL $161,900
http://www.postlets.com/res/2760035
A potential buyer gets a very good first impression of this listing. The photos enhance the property, while the lists and description copy each contain a nice variety of selling points.
This photo spread is one of the better ones. I like the balance of 3 exterior and 3 interior shots, especially since both have good selling points. (Some properties are much better inside than outside and vice versa.) The only one I question is the one of the patio. Not the photo itself, but not having chairs and/or plants, a grill, a hanging light, or anything to show a potential buyer what the patio looks like in use takes away the functionality. For example, if the patio is shown with a grill on it, a potential buyer that does not grill could create their own vision of how they might change it if it becomes their home. One that does grill would be pleased to know they will have the ability to do so. Whereas having nothing on the patio makes me wonder if there really is enough space to appeal to a new owner.
I have a slight concern about the condition of the lawn in the primary photo of the front of the exterior since it looks worn in several spots, given that this listing is up at the end of summer when the lawn should be at its peak appearance.
The list description at the top is very good, highlighting the relative newness of the home and it having a 2 car attached garage (easily noted based on the description and the primary photo). I also like how the upper description segment profiles the exterior, while the lower description provides a good mix of information.
Features such as the "double vanity in both baths" and the "garden tub" in the master bedroom are unique and excellent selling points for the interior. These add a touch of luxury not often found in a home priced under $200,000 on a big lot. A definite plus. Adding that the area is "adjacent to Somerhill" is (probably) a good idea. Although I know nothing about Somerhill, I would think that a potential buyer looking in that area probably knows.
However, saying "separate dining & laundry rooms" takes some of the air out of the balloon. I would hope that people don't eat next to the washing machine. Mistakes happen, but someone should have caught it by the time I saw this ad. It could cause a potential buyer taking a serious initial look at this ad and another home in the same area to be hesitant to contact this agent first.
The "Property Features" bullet points below are quite strong, hitting on the fireplace, central air, and breakfast nook among other solid selling points. There is also one of the better uses of Google Maps, giving the potential buyer a reasonable view of the major roads that lead in. Many of the maps on property descriptions are not accurate, too far out, or require clicks and steps to navigate.
Overall, this listing ad is thought out and well put together. The photos enhance, the positive points are well distributed and reinforced, and this ad will help sell the home. Something to show a patio and taking out the laundry reference are all that is needed to make this an "A" listing.
Grade: B+
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!
Monday, September 14, 2009
Listing of the Day - Henrico VA
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.
2633 Laclede Ave Henrico, VA 23233 $421,000 Sally Slate, Napier Realtors ERA
http://www.homesforsalerichmond.net/Homes_For_Sale/VA/Henrico/13773878.html
This ad (for suburban Richmond VA) only has one photo available which is an exterior shot. While it is often effective to have the description cover the interior rather than reinforce the photo, this photo opens up questions which are not addressed during the all-important first impression.
The photo is taken from an angle which shows a side which is not brick and therefore makes a large portion of house appear to be added on. While I was wondering if the open area at the front is a driveway or sidewalk, the description makes no mention of a garage whatsoever.
Keeping in mind this ad is from the web site of a print publication, there is no excuse for the fact that I cannot find the number of bedrooms and bathrooms for this home. (If it is there somewhere, I couldn't find it after spending about 2 minutes looking specifically for that information.) The publication probably expects the agent to include it within the print description, while the agent probably expects the publication to include it within its regular format.
Sorry, but I blame the agent for this glaring omission. It shows me that she did not check her ad. (The random search I did to find this listing group was "2 or more bedrooms" so I have no way of knowing for sure.) I would also question the motivation of the seller he/she/they isn't monitoring the advertising from the agent they chose to represent them.
To make matters worse, the description goes on to mention a "3rd floor bonus room". There is nothing wrong at all with offering a bonus room. But take a look at that picture. Where is there a 3rd floor???? If there is a basement, it is not mentioned, but that would make it 3 level and still not a "3rd floor".
By this point, a potential buyer is confused about how many stories, does not know how many beds and baths there are, and has no information about a garage or any sort of parking.
There is no information about the neighborhood or the block in the description. We would need to make another click for "area schools".
What is a "new 50-year roof"? Does it mean the house is 50 years old already? Is it a 50-year warranty?
Everything of what is described within is "new", including the roof. Yet, the property is also described as "meticulously maintained". It could only mean this is an older property, or cause suspicion if so many things needed to be replaced or upgraded recently.
Frankly, this is a perfect example of why I am doing this column.
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 welcome!
2633 Laclede Ave Henrico, VA 23233 $421,000 Sally Slate, Napier Realtors ERA
http://www.homesforsalerichmond.net/Homes_For_Sale/VA/Henrico/13773878.html
This ad (for suburban Richmond VA) only has one photo available which is an exterior shot. While it is often effective to have the description cover the interior rather than reinforce the photo, this photo opens up questions which are not addressed during the all-important first impression.
The photo is taken from an angle which shows a side which is not brick and therefore makes a large portion of house appear to be added on. While I was wondering if the open area at the front is a driveway or sidewalk, the description makes no mention of a garage whatsoever.
Keeping in mind this ad is from the web site of a print publication, there is no excuse for the fact that I cannot find the number of bedrooms and bathrooms for this home. (If it is there somewhere, I couldn't find it after spending about 2 minutes looking specifically for that information.) The publication probably expects the agent to include it within the print description, while the agent probably expects the publication to include it within its regular format.
Sorry, but I blame the agent for this glaring omission. It shows me that she did not check her ad. (The random search I did to find this listing group was "2 or more bedrooms" so I have no way of knowing for sure.) I would also question the motivation of the seller he/she/they isn't monitoring the advertising from the agent they chose to represent them.
To make matters worse, the description goes on to mention a "3rd floor bonus room". There is nothing wrong at all with offering a bonus room. But take a look at that picture. Where is there a 3rd floor???? If there is a basement, it is not mentioned, but that would make it 3 level and still not a "3rd floor".
By this point, a potential buyer is confused about how many stories, does not know how many beds and baths there are, and has no information about a garage or any sort of parking.
There is no information about the neighborhood or the block in the description. We would need to make another click for "area schools".
What is a "new 50-year roof"? Does it mean the house is 50 years old already? Is it a 50-year warranty?
Everything of what is described within is "new", including the roof. Yet, the property is also described as "meticulously maintained". It could only mean this is an older property, or cause suspicion if so many things needed to be replaced or upgraded recently.
Frankly, this is a perfect example of why I am doing this column.
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 welcome!
Friday, September 11, 2009
Listing of the Day - Indianapolis IN
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.
4930 N. Kessler Blvd. Indianapolis $296,000
http://www.homefinder.com/IN/Indianapolis/51827952d_4930_N_Kessler_Blvd
The photo tour at the top of the listing ad does not enhance the ad. The primary photo shows a wall, leaving it unclear whether or not this is a gated property or where the main entrance to the home is. The home seems off in the distance and thus doesn't seem as large as the description indicates. The photo of the swimming pool is too bright and left me confused as to the size of the swimming portion. The driveway photo shows cracked and two-tone pavement and does not even show a garage entrance. The interior photo is a cluttered room showing wires hanging. If the seller can't keep a neat office, it raises concern about maintenance of the home. Since the photo tour is atop this ad, none of these photos helps toward a positive first impression.
Even as I come to learn of the 3 acres and 5,000+ square feet, after having seen the photos it doesn't seem as impressive. The in-ground pool and full fenced yard are indeed positives to be pointed out early on.
We are then told the "interior is unique" and that we "will be amazed". However, we are not told WHY it is unique. Unique is not always good or functional for a potential buyer. "Unique" could mean hard to find parts or fixtures and be a negative without a reasonable explanation or illustration.
The description paragraph ends with the note that "Dick the Bruiser" once owned the home. I understand the possible appeal of a celebrity having purchased this home. However, in this instance, those old enough to remember him also come to realize this is an older property. Since this is an advertised property, the buyer now faces the possibility of wrestling fans coming by to see the house Dick the Bruiser used to live in, and that is most likely unwanted attention for the buyer and the neighborhood. A description stating "once owned by a nationally known celebrity" might entice a potential buyer to call the listing agent out of curiousity.
It isn't until reading the "Additional Details" that the selling points start to come out. The agent seems convinced that potential buyers will read all the way through. But they need solid reasons to do that, given the assortment of other homes available within the same area and price range.
If I were looking in that area, I probably would have clicked back to the menu after looking at the photos. Even if I had stayed through the description, my interest would have ended there, and I wouldn't have taken the time to learn the positives.
For the sake of this review, I continued to read the ad and THEN learned about the 2 car attached garage, 2 fireplaces, central air, and that this is all on a corner lot.
While it is 4 bedrooms and obviously large, there is nothing specific about proximity to schools or transportation. These are obvious considerations for a large family looking in this area.
What might have been...............
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.
Your comments are welcome!
4930 N. Kessler Blvd. Indianapolis $296,000
http://www.homefinder.com/IN/Indianapolis/51827952d_4930_N_Kessler_Blvd
The photo tour at the top of the listing ad does not enhance the ad. The primary photo shows a wall, leaving it unclear whether or not this is a gated property or where the main entrance to the home is. The home seems off in the distance and thus doesn't seem as large as the description indicates. The photo of the swimming pool is too bright and left me confused as to the size of the swimming portion. The driveway photo shows cracked and two-tone pavement and does not even show a garage entrance. The interior photo is a cluttered room showing wires hanging. If the seller can't keep a neat office, it raises concern about maintenance of the home. Since the photo tour is atop this ad, none of these photos helps toward a positive first impression.
Even as I come to learn of the 3 acres and 5,000+ square feet, after having seen the photos it doesn't seem as impressive. The in-ground pool and full fenced yard are indeed positives to be pointed out early on.
We are then told the "interior is unique" and that we "will be amazed". However, we are not told WHY it is unique. Unique is not always good or functional for a potential buyer. "Unique" could mean hard to find parts or fixtures and be a negative without a reasonable explanation or illustration.
The description paragraph ends with the note that "Dick the Bruiser" once owned the home. I understand the possible appeal of a celebrity having purchased this home. However, in this instance, those old enough to remember him also come to realize this is an older property. Since this is an advertised property, the buyer now faces the possibility of wrestling fans coming by to see the house Dick the Bruiser used to live in, and that is most likely unwanted attention for the buyer and the neighborhood. A description stating "once owned by a nationally known celebrity" might entice a potential buyer to call the listing agent out of curiousity.
It isn't until reading the "Additional Details" that the selling points start to come out. The agent seems convinced that potential buyers will read all the way through. But they need solid reasons to do that, given the assortment of other homes available within the same area and price range.
If I were looking in that area, I probably would have clicked back to the menu after looking at the photos. Even if I had stayed through the description, my interest would have ended there, and I wouldn't have taken the time to learn the positives.
For the sake of this review, I continued to read the ad and THEN learned about the 2 car attached garage, 2 fireplaces, central air, and that this is all on a corner lot.
While it is 4 bedrooms and obviously large, there is nothing specific about proximity to schools or transportation. These are obvious considerations for a large family looking in this area.
What might have been...............
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.
Your comments are welcome!
Sunday, September 6, 2009
Listing of the Day - Sept. 6th
NOTE: 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.slcity.com/manager/listings/l10772.shtml
1349 Zenith Ave., Salt Lake City UT $358,900
The property is not the most nor the least expensive home listed in the area.
This listing ad starts with a solid exterior photo that brings a positive first impression of the curb appeal of this home. Other than the photo that concentrates on the garage (which is helpful to get a feel for the home), any of the interior photos could also be used as the most prominent. The nice furniture that helps to scale the room sizes for the viewer, and these interior photos add to the appeal.
I like how the description paragraph goes right into the selling points of the interior. Maple cabinets along with granite and steel have appeal to many buyers, and this is enticing information which is not available or certain to those who look at the pictures before reading the description.
In other words, this is what a property ad is supposed to do. The exterior photo shows the look of the home and the nice garden and landscaping. Enough to entice a potential buyer to read the description. Wisely, rather than recapping about the landscaping right away, the first sentence targets selling points about the interior.
At this point, the potential buyer has a good impression of the exterior, and within seconds learns a plus about the interior, and wants to know more.
Frankly, one sentence in and I already know that this agent understands how a property advertisement should flow. Everywhere a potential buyer or client can start shows a different positive, and gives one or more reasons to continue to look at this property. He is helping to let this home sell itself, instead of him selling his services.
We go on to learn that the home has central air, a laundry room, dishwasher, and disposal and is well maintained. The photos reinforce the "well maintained" aspect.
The less appealing points, such as the age of the home, that it is not 2 "full" baths, and does not have a fireplace, are all included in the description. It is significant to note that these facts are further down, coming AFTER the positives. As obvious as this would seem, I have re-written hundreds of listings for clients which buried the positives, compared with how they are first here. In addition, this ad emphasizes how this property has been well maintained and refurbished over the years.
Also, factors such as "new and refurbished baths" and "converted patio" when combined with the good photos, help the potential buyer to accept the 'less appealing' points because it appears those have been addressed by the seller.
The copy and the photos tie together and it makes a big difference. As a potential buyer, if you only read about refurbished rooms and no fireplace in an older house and did not see any interior photos, chances are you would move on to the next property.
Another positive is that the names of the elementary, middle, and high school on the page, with a link to school information just below. Especially helpful for a 4-bedroom home.
For this listing ad, there is little that I would change. A potential buyer cannot tell from the photos that there is a downstairs level. The description says bedrooms are "2 main, 2 down" rather than "4 bedrooms". It is hard to tell from the exterior photo if this is a 2-level home or if there is a true basement. Whether or not there are a lot of stairs and the distance between a master bedroom and a possible child's room could be important.
One other matter is the neighborhood. We are not told if this home is close to schools and maybe a fact or two about the area. A "near elementary school", "close to expressway", or nearby point of interest could all help, especially for a buyer comparing this home to others in the same general area.
GRADE: B+
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!
http://www.slcity.com/manager/listings/l10772.shtml
1349 Zenith Ave., Salt Lake City UT $358,900
The property is not the most nor the least expensive home listed in the area.
This listing ad starts with a solid exterior photo that brings a positive first impression of the curb appeal of this home. Other than the photo that concentrates on the garage (which is helpful to get a feel for the home), any of the interior photos could also be used as the most prominent. The nice furniture that helps to scale the room sizes for the viewer, and these interior photos add to the appeal.
I like how the description paragraph goes right into the selling points of the interior. Maple cabinets along with granite and steel have appeal to many buyers, and this is enticing information which is not available or certain to those who look at the pictures before reading the description.
In other words, this is what a property ad is supposed to do. The exterior photo shows the look of the home and the nice garden and landscaping. Enough to entice a potential buyer to read the description. Wisely, rather than recapping about the landscaping right away, the first sentence targets selling points about the interior.
At this point, the potential buyer has a good impression of the exterior, and within seconds learns a plus about the interior, and wants to know more.
Frankly, one sentence in and I already know that this agent understands how a property advertisement should flow. Everywhere a potential buyer or client can start shows a different positive, and gives one or more reasons to continue to look at this property. He is helping to let this home sell itself, instead of him selling his services.
We go on to learn that the home has central air, a laundry room, dishwasher, and disposal and is well maintained. The photos reinforce the "well maintained" aspect.
The less appealing points, such as the age of the home, that it is not 2 "full" baths, and does not have a fireplace, are all included in the description. It is significant to note that these facts are further down, coming AFTER the positives. As obvious as this would seem, I have re-written hundreds of listings for clients which buried the positives, compared with how they are first here. In addition, this ad emphasizes how this property has been well maintained and refurbished over the years.
Also, factors such as "new and refurbished baths" and "converted patio" when combined with the good photos, help the potential buyer to accept the 'less appealing' points because it appears those have been addressed by the seller.
The copy and the photos tie together and it makes a big difference. As a potential buyer, if you only read about refurbished rooms and no fireplace in an older house and did not see any interior photos, chances are you would move on to the next property.
Another positive is that the names of the elementary, middle, and high school on the page, with a link to school information just below. Especially helpful for a 4-bedroom home.
For this listing ad, there is little that I would change. A potential buyer cannot tell from the photos that there is a downstairs level. The description says bedrooms are "2 main, 2 down" rather than "4 bedrooms". It is hard to tell from the exterior photo if this is a 2-level home or if there is a true basement. Whether or not there are a lot of stairs and the distance between a master bedroom and a possible child's room could be important.
One other matter is the neighborhood. We are not told if this home is close to schools and maybe a fact or two about the area. A "near elementary school", "close to expressway", or nearby point of interest could all help, especially for a buyer comparing this home to others in the same general area.
GRADE: B+
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!
Wednesday, September 2, 2009
Listing of the Day - Columbia SC
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.cbcarolinascolumbia.com/property/property.asp?PRM_MLSNumber=248101&PRM_MlsName=ColumbiaSC&VAR_AgentCode=FELICIJ&VAR_OfficeCode=cbjg03
226 Philmont Dr, Columbia SC 2 bed 2 bath $106,000
This one is not the least or most expensive listing the agent currently has.
As much as I preach making interior photos a part of advertisements and online profiles, this listing shows why it depends on the property. The exterior shot is an excellent one. It showcases an attractive well painted home with nice landscaping, the driveway, and the attached garage.
However, the interior photos which are used feature noticeably little or no furniture, making it impossible to tell if the house is really empty or if someone lives there that can't afford furniture. A couple of the photos could use an explanation and don't have them. My impression started out quite high based on the exterior photo but dropped significantly while viewing the interior ones. Since I knew this was not even the listing agent's lowest priced current listing, it is not as though this is a "fixer" or the lowest priced property in town.
The all-too-brief description tells us about the "open floor plan", but frankly that seems a stretch after seeing photos of an entire room with no furniture. Does this mean you should only have one or two pieces per room?
All we are told about the surrounding area is that this home is "convenient to interstate", but there is nothing about proximity to schools, shopping, services, or other forms of civilization. Otherwise, there really is not any appealing description. I don't see where this home is a bargain or has a desirable location.
I'm pretty sure that the listing agent (and other agents) would counter my last point by reminding me that there are places on the page to click for "Local Services", "school" and map information. Had I only been shown the primary exterior photo and an enticing description, I might have looked longer. This is a big part of the reason for doing this "Listing of the Day" feature. This agent spent time and effort to secure this listing. This property has some good selling points including curb appeal, especially for a home in this price range. It is not up to a potential buyer to look hard enough to find them.
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.
http://www.cbcarolinascolumbia.com/property/property.asp?PRM_MLSNumber=248101&PRM_MlsName=ColumbiaSC&VAR_AgentCode=FELICIJ&VAR_OfficeCode=cbjg03
226 Philmont Dr, Columbia SC 2 bed 2 bath $106,000
This one is not the least or most expensive listing the agent currently has.
As much as I preach making interior photos a part of advertisements and online profiles, this listing shows why it depends on the property. The exterior shot is an excellent one. It showcases an attractive well painted home with nice landscaping, the driveway, and the attached garage.
However, the interior photos which are used feature noticeably little or no furniture, making it impossible to tell if the house is really empty or if someone lives there that can't afford furniture. A couple of the photos could use an explanation and don't have them. My impression started out quite high based on the exterior photo but dropped significantly while viewing the interior ones. Since I knew this was not even the listing agent's lowest priced current listing, it is not as though this is a "fixer" or the lowest priced property in town.
The all-too-brief description tells us about the "open floor plan", but frankly that seems a stretch after seeing photos of an entire room with no furniture. Does this mean you should only have one or two pieces per room?
All we are told about the surrounding area is that this home is "convenient to interstate", but there is nothing about proximity to schools, shopping, services, or other forms of civilization. Otherwise, there really is not any appealing description. I don't see where this home is a bargain or has a desirable location.
I'm pretty sure that the listing agent (and other agents) would counter my last point by reminding me that there are places on the page to click for "Local Services", "school" and map information. Had I only been shown the primary exterior photo and an enticing description, I might have looked longer. This is a big part of the reason for doing this "Listing of the Day" feature. This agent spent time and effort to secure this listing. This property has some good selling points including curb appeal, especially for a home in this price range. It is not up to a potential buyer to look hard enough to find them.
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.
Monday, August 31, 2009
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.
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.
Sunday, August 30, 2009
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
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
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
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.
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.
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.
Thursday, August 27, 2009
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...................
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...................
Friday, August 14, 2009
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.
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.
Wednesday, August 5, 2009
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.
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.
Wednesday, July 29, 2009
Why walk away from a downtown Chicago condo?
Another article which caught my attention is one from the Chicago Sun-Times about the rising number of potential buyers walking away from downtown Chicago condos just before the delivery date. The story does go on to cite examples, and also to anticipate how this trend might go as some important openings (including Chicago’s Trump Tower) come up before the end of this year.
http://www.suntimes.com/business/roeder/1689945,CST-NWS-roeder29.article
The article quotes one developer about how they have been very successful with overall sales and how that includes significantly fewer “walk aways” for a specific building. One of the major points of this column is to tie the concern about diminishing downtown condo sales to the current real estate marketplace.
Naturally, the story goes on to associate the downturn it reports on to the current conditions in the real estate market. That could be taking the easy way out. I, for one, question that.
We don’t know exactly how many condo developers or sales offices were contacted in total for the story. Yet, of the few that are mentioned, one reports successful sales to the tune of millions of dollars. A success story within a couple of miles of the area covered in this story.
I’m not here to pick on the reporter from this story. It seems to be the same mindset as when realty associations keep pumping out the “latest decline in sales from a year ago” statistics and blame the market instead of only reporting how many hundreds or thousands of homes have sold during the previous month. Yet, if that were “my” story to write, it would have come out completely different. I would be investigating what made the one development quoted in there so successful, whether or not compared with other condo buildings and developments in the same area. But since I am not an agent or developer, I’ll leave that research for someone else.
Some will counter this point because the article refers to people “walking away”, which could refer to their ability to secure or close on a mortgage. I can appreciate that viewpoint. However, the point is that a nearby development is not experiencing anywhere near as much of this same occurrence.
Instead, I’ll offer up my theory, and that is that I would closely examine the pricing of condos in downtown Chicago Within that 3 to 5 square mile area there is plenty of public transportation, retailers, restaurants, and services. . If one development is doing well, the reason for the others to be struggling is not location location location. This leaves price and value.
In other words, the “struggling” developers in the same area either do not have their units priced right for the buyers it hopes to attract, or are not offering enough in value. By “value” I refer to amenities which apply based on the location and the type of property. A major downtown condo best serves when it has parking, proximity to bus and train, grocery store, and plenty of businesses. Other factors such as the size of the units, views, number of stories, and exercise facilities. Is it possible that the “walk away” people did more research and the results told them to back off due to future resale concerns?
While I can’t answer that, I think that is a question that should be addressed with regard to pricing a listing or a development. But for now, we should be looking for reasons why these “walk aways” are happening at some locations but not at others nearby.
Thoughts?
Monday, July 13, 2009
If they are the builder - how is it not their fault?
Earlier today I saw a story from Florida about a major builder which identified defective drywall used in hundreds of homes (thus far).
http://www.justnews.com/news/20039942/detail.html
The builder seems to be responding both financially and in terms of the investigation. To me, their response raises more questions than it answers. I would like to know how this builder decided upon the "contractors and sub-contractors" it is now investigating. NOW investigating?
If they were not carefully investigated before, I would like to know how and why these firms were hired. Is Lennar a "builder" or are they really just a marketing agency?
All of a sudden it is not their company and is organizations they hire? This could then be a reason that the wrong materials were used in some instances. Shouldn't the "builder" have a handle on materials used throughout "their" built homes?
How dare they wait until AFTER lawsuits have been filed? Did they not check out every contractor and sub-contractor hired to build "their" homes?
We don't know yet to what extent this could impact the buyers (or tenants) in these homes that have been found in violation. Not to mention the loans on these properties, those that were purchased with the help of a Realtor, and countless others who could be impacted as this continues on.
This could be still another problem for banks and industry professionals. We don't know yet if owners or tenants are being forced to move or relocate over saftey issues, and how it could impact loans and credit. Yet, this is not related to the current economy, even though it could very possibly throw another wrench into a challenging and diffcult real estate and financial market.
Yet, this was not caused by banks, greedy lenders, or consumers with credit issues. It seems to be caused by a "builder" acting like a marketing company and hiring companies which were able to use the wrong material since nobody investigated when they should have.
It is tough enough for industry professionals to assist in the purchase or sale of a home. The safety of the home itself should never have become an issue. We should all be asking a ton of questions about new builder homes from this point forward. Worry about the credit of the potential buyer later.
And while we are at it, who inspected these homes????
http://www.justnews.com/news/20039942/detail.html
The builder seems to be responding both financially and in terms of the investigation. To me, their response raises more questions than it answers. I would like to know how this builder decided upon the "contractors and sub-contractors" it is now investigating. NOW investigating?
If they were not carefully investigated before, I would like to know how and why these firms were hired. Is Lennar a "builder" or are they really just a marketing agency?
All of a sudden it is not their company and is organizations they hire? This could then be a reason that the wrong materials were used in some instances. Shouldn't the "builder" have a handle on materials used throughout "their" built homes?
How dare they wait until AFTER lawsuits have been filed? Did they not check out every contractor and sub-contractor hired to build "their" homes?
We don't know yet to what extent this could impact the buyers (or tenants) in these homes that have been found in violation. Not to mention the loans on these properties, those that were purchased with the help of a Realtor, and countless others who could be impacted as this continues on.
This could be still another problem for banks and industry professionals. We don't know yet if owners or tenants are being forced to move or relocate over saftey issues, and how it could impact loans and credit. Yet, this is not related to the current economy, even though it could very possibly throw another wrench into a challenging and diffcult real estate and financial market.
Yet, this was not caused by banks, greedy lenders, or consumers with credit issues. It seems to be caused by a "builder" acting like a marketing company and hiring companies which were able to use the wrong material since nobody investigated when they should have.
It is tough enough for industry professionals to assist in the purchase or sale of a home. The safety of the home itself should never have become an issue. We should all be asking a ton of questions about new builder homes from this point forward. Worry about the credit of the potential buyer later.
And while we are at it, who inspected these homes????
Wednesday, July 8, 2009
How the local ATM could eventually increase your sales..........
Realty agents and lenders should take note of a story that broke in the Chicago area earlier this week when it comes time to contact or send a newsletter or reminder e-mail to current and potential clients. The story gives them and all of us a reason to check our nearest ATM machine, but it could eventually help you to get a sale or commission as well.
The story is about a woman in suburban Oak Forest IL who started a class action lawsuit against a local bank after she was charged $3 for using an ATM which failed to disclose that she would be charged a fee. It seems that if there is no sign on the ATM or electronic message on the screen warning of a service fee that it is then a violation of the Electronic Funds Transfer Act.
As a result, the Chicago Sun-Times reported that Marquette Bank preferred to offer a cash settlement rather than be subjected to additional legal fees to fight the suit, with a judge expected to rule in September. The reported settlement amount for this woman (and other users of that specific ATM) is supposedly $90,000. While I have a big problem with the law firm supposedly getting $27,000 of this money for its legal fees (I’d love to see documentation on the actual cost of filing this lawsuit!), that is for another discussion.
So now you are asking, “What does this have to do with me as a realty agent / lender?”. My answer is, nothing directly. My point here is that here was a woman consumer using her local ATM that figures to wind up with many times over the $3 she was charged, perhaps over $1,000, because she stepped up and complained.
I searched and did not find this story in other parts of the country, which I find surprising. But I was a realty agent or mortgage lender, I would be all over this story in communications with my current and potential clients in my database. It’s time they start checking the ATM machines they use to make certain there is a notice of fees involved. If not, there is now legal precedent which could bring them potentially $1,000 or more.
Even if they don’t find any ATM’s in violation, they will tell their friends about this. As a result, this gives these consumers at least one chance to mention and recall YOUR name and affiliation when they do. And doing this costs you nothing, while you get a group of people telling others that “my Prudential agent told me about this……”.
You might also suggest that if they can find a violation and collect a few thousand dollars they can put it into a home improvement to increase the value of their property for when the time comes to sell.
Trust me when I tell you this is better information for potential customers than negative statistics about last month’s local real estate market.
Now back to watching for stories that actually can help us all generate business in this real estate market………
The story is about a woman in suburban Oak Forest IL who started a class action lawsuit against a local bank after she was charged $3 for using an ATM which failed to disclose that she would be charged a fee. It seems that if there is no sign on the ATM or electronic message on the screen warning of a service fee that it is then a violation of the Electronic Funds Transfer Act.
As a result, the Chicago Sun-Times reported that Marquette Bank preferred to offer a cash settlement rather than be subjected to additional legal fees to fight the suit, with a judge expected to rule in September. The reported settlement amount for this woman (and other users of that specific ATM) is supposedly $90,000. While I have a big problem with the law firm supposedly getting $27,000 of this money for its legal fees (I’d love to see documentation on the actual cost of filing this lawsuit!), that is for another discussion.
So now you are asking, “What does this have to do with me as a realty agent / lender?”. My answer is, nothing directly. My point here is that here was a woman consumer using her local ATM that figures to wind up with many times over the $3 she was charged, perhaps over $1,000, because she stepped up and complained.
I searched and did not find this story in other parts of the country, which I find surprising. But I was a realty agent or mortgage lender, I would be all over this story in communications with my current and potential clients in my database. It’s time they start checking the ATM machines they use to make certain there is a notice of fees involved. If not, there is now legal precedent which could bring them potentially $1,000 or more.
Even if they don’t find any ATM’s in violation, they will tell their friends about this. As a result, this gives these consumers at least one chance to mention and recall YOUR name and affiliation when they do. And doing this costs you nothing, while you get a group of people telling others that “my Prudential agent told me about this……”.
You might also suggest that if they can find a violation and collect a few thousand dollars they can put it into a home improvement to increase the value of their property for when the time comes to sell.
Trust me when I tell you this is better information for potential customers than negative statistics about last month’s local real estate market.
Now back to watching for stories that actually can help us all generate business in this real estate market………
Thursday, July 2, 2009
Let's make them true "news" letters
I continue to subscribe to newsletters done by realty agents and mortgage lenders who are not (advertising / marketing) clients of mine from around the country. These can be an interesting resource for ideas (and columns). At least, they should be.
This morning, the morning of July 2, I received "my July newsletter" from a realty agent in Chicago. I have found his previous newsletters to be well presented even if the content has been inconsistent over recent months.
Thinking I'm going to truly see a "July" newsletter, I open it, and note that the first story is about home sales in April. Yes, April. I didn't check to see if it was April 2009. It didn't have to be. Geeez. This is July. I should have been reading about April during April or at the very latest within the first 10 days of May. Two months ago.
I take it this guy has nothing current and topical to write about for his "July" newsletter. He might have been better off not to send it out. The "lead story" was already outdated, no matter what the information it contained.
If I was a client of his, I would not be pleased that "my" agent is providing me with information that is no longer timely. I also find that a lot of the sales statistics we are bombarded with as it pertains to real estate is not pertinent either. I would let him know that I am interested in what is happening in the local market "today" and that I will start looking for someone who can tell me that on a regular basis. As it is, I preach about how realty agents do not provide enough information which is specific to local home owners, and examples like this only add fuel to the fire.
Why am I reacting so heavily to one newsletter from one agent that I don't even know?
There is an answer for that. In this marketplace, everyone associated with the real estate community needs to work harder in order to survive and hopefully thrive. Even one agent sending information from more than 2 months ago as their "current" newsletter gets a few people to think that there is no progress and little hope for the real estate market to rebound.
In all likelihood, based on its overall appearance, this agent is using one of those services that composes and sends the newsletter out for different agents around the region or around the country. My hunch is that this newsletter isn't just going out in the Chicago area today. But if I were a realty agent that was considered responsible for having sent this out, I would have already canceled this service and be putting out my own retraction.
My point of contention is that if this agent "doesn't have time" to compose his own newsletter, it would mean he is making a ton of sales. If he is making sales, THAT should be what his newsletter is all about. He should be describing elements of his successful sales (which can be done without naming names, etc.) and showing what a good month June was and what he hopes to accomplish during July. This would make an appropriate July newsletter.
If this agent did not generate any sales during June, he should not be going back to April for content. Frankly, this sort of newsletter could very well be a reason he did not generate sales, since he offers not one compelling reason to contact him today.
You see, I have no idea if he even got a sale during June, or if he made several and raked in thousands of dollars. Yet, I still don't know this minutes after reading HIS newsletter.
Earlier today, I took steps to bring two realty agents together from different parts of the country to try and bring a couple of properties to auction before the listings expire. My hope is that this story will result in another property being sold as a result of the listing agent's effort prior to the expiration date and from a winning bid solid enough that the seller didn't refuse it and move on.
Hopefully my client could use that success story in her newsletter within a matter of days. It could help the real estate market one property at a time.
This morning, the morning of July 2, I received "my July newsletter" from a realty agent in Chicago. I have found his previous newsletters to be well presented even if the content has been inconsistent over recent months.
Thinking I'm going to truly see a "July" newsletter, I open it, and note that the first story is about home sales in April. Yes, April. I didn't check to see if it was April 2009. It didn't have to be. Geeez. This is July. I should have been reading about April during April or at the very latest within the first 10 days of May. Two months ago.
I take it this guy has nothing current and topical to write about for his "July" newsletter. He might have been better off not to send it out. The "lead story" was already outdated, no matter what the information it contained.
If I was a client of his, I would not be pleased that "my" agent is providing me with information that is no longer timely. I also find that a lot of the sales statistics we are bombarded with as it pertains to real estate is not pertinent either. I would let him know that I am interested in what is happening in the local market "today" and that I will start looking for someone who can tell me that on a regular basis. As it is, I preach about how realty agents do not provide enough information which is specific to local home owners, and examples like this only add fuel to the fire.
Why am I reacting so heavily to one newsletter from one agent that I don't even know?
There is an answer for that. In this marketplace, everyone associated with the real estate community needs to work harder in order to survive and hopefully thrive. Even one agent sending information from more than 2 months ago as their "current" newsletter gets a few people to think that there is no progress and little hope for the real estate market to rebound.
In all likelihood, based on its overall appearance, this agent is using one of those services that composes and sends the newsletter out for different agents around the region or around the country. My hunch is that this newsletter isn't just going out in the Chicago area today. But if I were a realty agent that was considered responsible for having sent this out, I would have already canceled this service and be putting out my own retraction.
My point of contention is that if this agent "doesn't have time" to compose his own newsletter, it would mean he is making a ton of sales. If he is making sales, THAT should be what his newsletter is all about. He should be describing elements of his successful sales (which can be done without naming names, etc.) and showing what a good month June was and what he hopes to accomplish during July. This would make an appropriate July newsletter.
If this agent did not generate any sales during June, he should not be going back to April for content. Frankly, this sort of newsletter could very well be a reason he did not generate sales, since he offers not one compelling reason to contact him today.
You see, I have no idea if he even got a sale during June, or if he made several and raked in thousands of dollars. Yet, I still don't know this minutes after reading HIS newsletter.
Earlier today, I took steps to bring two realty agents together from different parts of the country to try and bring a couple of properties to auction before the listings expire. My hope is that this story will result in another property being sold as a result of the listing agent's effort prior to the expiration date and from a winning bid solid enough that the seller didn't refuse it and move on.
Hopefully my client could use that success story in her newsletter within a matter of days. It could help the real estate market one property at a time.
Subscribe to:
Posts (Atom)
Posts
