I'd like to hear about everyone's strategy of how to market their properties for sale. To be more specific, i am looking for ways to increase exposure for turkey property sales. In my case, I am planning to exit some of the property holdings in my current portfolio. Those properties were purchased via foreclosure then renovated. They currently have tenants and property manager in place. I know there some low hanging fruit when it comes to marketing. For instance, people can market their properties here on the forum. I know listing on craigslist is another one. However, that's as far as my knowledge goes. I was wondering if anyone could share some other avenues that they have used to market their properties.
My properties are in lehigh valley/allentown. If anyone has any local resources, i'd love to hear about it.
I am a Realtor so I will start with saying that you can always list your home with a Realtor, but I am guessing that you want to handle on your own so I have a few other tips.
As the owner you can list your own properties on most sites like zillow and trulia. You just have to sign up for an account and upload to each site individually. This is probably the best way to get online exposure.
Attend local real estate investor meet ups and pitch the deals there, especially if they are properties that could be good for another investor to add to their portfolio.
Use boosted facebook ads, for a low cost you can get local exposure.
Offer to pay a buyer agent commission/finders fees and drop flyers, do email blasts, etc.... to local real estate offices.
Hope this helps, good luck! Aaron
@James Zhang , the key is building excitement for the property being new on market. I use a marketing strategy that puts properties across the MLS and all major channels, including social media, craigslist, and the usual Zillow / Trulia etc. I also host a open house that first weekend.
I've found the biggest factor is proper pricing. If a property is priced too high and sits on the market, all the excitement is gone and it will sell below asking. We have been getting multiple offers on our "launch weekends" and frequently getting above asking price from the bidding wars. If you want to save a commission by selling directly, you can go the for sale by owner route. My personal experience is that by using an agent with a good marketing team, you can get a sales price that is high enough to offset the commission you will pay... but as an agent, I'm biased, of course. I'll second what @Walter @Aaron Poling said above - offer to pay the buyer's agent commission. It will get a lot more interest in your properties.
Either way - good luck!
as the other members above me recommended. list the properties on zillow , trulia and every other site you can
I also recommend using a MLS Flat fee service - where you can post you proprieties for sale on the local MLS for a very small fee (89$-289$ usually depends in the local MLS) , I would advice - to advertise in your listing a nice commission for any buyers agent for bringing you properties.... lets say even 3.5% to the buyers agent.. (depends on how your market is )
in case you need some help with Facebook / social marketing dont hesitate to connect with me:-)
Thanks for the inputs guys! I think the buyer's agent commission is a really good tip. Aligning incentives is definitely a good starting point.