Getting more interest in a listing outside of price reductions

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Getting more interest in a listing outside of price reductions

Patrick Britton
Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes

Hi,

I was wondering if anybody had any interesting ideas on how to generate interest in the listing outside of reducing price.  For instance, has anyone used Facebook advertising with any success?  How about direct mailers?  Unique print advertising?

Thanks

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Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
9y

Withdraw from market for a time and repost with a new MLS net so it shows as a new listing on sites like Zillow and Redfin.

Instead of pricing something at say $499,900...price it at $497,400. Studies have shown that pricing with the digits 7s and 4s does better than generic pricing.

Brokers open while you remove it from the market and specifically invite whatever buyers agents are doing a lot of business in that neighborhood.

Bonus commission.

[email protected]301-893-4635Podcast Guest on Show #192
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  • Ryan Bakerian
    Real Estate Agent · Albany, NY · Member since 2017 · 80 posts · 26 votes
    9y

    Hi Patrick

    I have used Facebook advertising with some success. 

    Have you had an Opens recently? How are the photos? 

    I never did well with unique print advertising on homes. 

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  • Patrick Britton
    OP
    Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
    9y

    @Ryan Bakerian Thanks for the reply.  What specifically did you do with Facebook advertising?

    We hold open houses nearly every single weekend and the photos are professionally done and quite stunning.

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  • Ryan Bakerian
    Real Estate Agent · Albany, NY · Member since 2017 · 80 posts · 26 votes
    9y
    Originally posted by @Patrick Britton:

    @Ryan Bakerian Thanks for the reply.  What specifically did you do with Facebook advertising?

    We hold open houses nearly every single weekend and the photos are professionally done and quite stunning.

     hmm.. sounds like you have a good handle on it. 

    I will use my Facebook Realtor page to boost listings to our target market. I know it provides exposure and it's not super expensive. 

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  • Lydia S.
    Real Estate Agent · Albuquerque, NM · Member since 2015 · 542 posts · 193 votes
    9y

    You might also try reverse prospecting on your MLS to find saved searches with criteria that match your listing and contact the Realtor who has that search set up for a client. As I understand it, this is a relatively new feature on MLS and I haven't used it yet.

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    9y

    Withdraw from market for a time and repost with a new MLS net so it shows as a new listing on sites like Zillow and Redfin.

    Instead of pricing something at say $499,900...price it at $497,400. Studies have shown that pricing with the digits 7s and 4s does better than generic pricing.

    Brokers open while you remove it from the market and specifically invite whatever buyers agents are doing a lot of business in that neighborhood.

    Bonus commission.

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    3Reply
  • Patrick Britton
    OP
    Ann Arbor, MI · Member since 2014 · 1k+ posts · 997 votes
    9y

    @Lydia S. Good idea, I have been doing that since the listing first hit the market. Fortunately, the Northwest MLS is pretty up-to-date with their technology :)

    @Russell Brazil we would have to withdraw for 90 days otherwise my MLS will fine me :( I guess too many people were doing this trick, LOL. totally agree about the odd number pricing. That is something we have yet to do. In terms of a broker's open I cannot market the property without a corresponding listing on the MLS. So for instance, pocket listings are illegal here. But yes, I have reached out to the top agents in the area. And yes, we are currently doing a $10,000 selling office commission bonus.

    I really appreciate the feedback and ideas from everyone here.  Quite frankly though, I simply think it might be too expensive.  To give some additional background, only 1.4% of all sales in the city last year were in the price range of current list price.  Not surprisingly, the average days on market was considerable... Over 100.  So suffice it to say that I think it is just one of those things that will take a long time to sell :(

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