I am looking for some advice on marketing properties as a realtor.
How are you guys currently marketing the properties?
What percentage of the marketing is done online, and offline?
What works the best (best ROI).
To start off, whenever I have a new property I often follow these steps. However, I've noticed most of the ideas are online, what about some old school tactics or things that just always work?
Making the property significantly cheaper than everything else in the area works like a charm for me!
I'm kidding, kind of. When I go into a deal I always assume I'm doing to sell at a 10% discount of everything else in the area when I do my numbers. This provides a conservative cushion, but at the same time allows for a fast sale. If the house is done right and looks great, adding the small discount right off the top really helps move them.
You could also offer a buyers agent bonus to entice buyers agents to bring people to the property.
@Matt Motil , so obviously the price and other incentives work best. How do you market the property if I may know?
I do everything online. 100%
Market it online. In fact pre-market it for a giant open house. If the property is priced right (@Matt Motil 10% below I totally agree with) and you have done a good job on the rehab then you would be in a great position to sell this quickly.
Also ... be aware of the time of the year. Right now is not a great time to market properties as home buyers are more concerned with who is going to cook the mashed potatoes and crescent rolls for Thanksgiving and if they're going to buy a PS4 for Tommy for Christmas (or Channukah or Kwanzaa or Festivus ... trying to stay PC here now people). So acquiring something now ... doing your flip in 60 days and putting on the market in the middle of the Holidays and expecting a bidding war might not be realistic ... if you're ok with the holding costs for a few more months then no problem, go for it now and then hold on to it for a few months and market it in the spring.
Ask any agent out there now and they will tell you that hitting the market in the Spring around March or April or even later is the time to catch the new crop of homebuyers.
Hope that helps. Best of luck to you.