Hoe else can you market your listing to buyers?

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Hoe else can you market your listing to buyers?

Michael Arnold
Grand Rapids, MI · Member since 2017 · 71 posts · 16 votes

Hello,

I have a property that is listed on the MLS in Michigan (suburbs of Detroit). Besides the MLS and a realtor, what are other creative ways to market your listing to potential buyers? Thank you!

Mike

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Russell BrazilBusiness Member
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Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
7y

Instagram, Facebook, Open Houses, cold calling realtors who do business in that location, REIAs, 

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  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y

    Instagram, Facebook, Open Houses, cold calling realtors who do business in that location, REIAs, 

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    2Reply
  • Lien VuongBusiness Member
    Real Estate Agent · Boston, MA · Member since 2018 · 2k+ posts · 1k+ votes
    7y

    Obviously the internet is going to be your best outlet but with a 'millennial' mindset I would reach out to popular agent in your area and ask them to post your listings as a marketing tool. If your property is staged well it would be really easy to have that conversation with them and have them share the listing. 

    Alternatively you can go the grassroots method and knock on neighboring homes and tell them about the house, pics inside, and ask them to share it with their friends and family looking to buy in the area. This strategy is an oldie but definitely a goodie as they can really talk up the neighborhood from their personal experience. 

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  • Michael Arnold
    OP
    Grand Rapids, MI · Member since 2017 · 71 posts · 16 votes
    7y

    @Lien Vuong thanks. What do you think is a reasonable fee from a RE agent to post a listing a on Instagram?

    Good ideas! I

    Btw - the house is a for sale by owner. We have had 70+ showing. The main complaint is that the house is a quad. People do not like quads lol! But we knew this from the beginning.

    We also didn't stage the house. I feel it's a little late now since we will likely never get the traffic. We thought that a full interior remodel would do the trick. ... nope! We just put a new roof and HVAC system since those were common complaints (also we replaced all the glass and seals in the window frames. Of course, we raised the price and re-listed on MLS.

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  • Drew Brown
    Property Manager · Lansing, MI · Member since 2015 · 170 posts · 59 votes
    7y

    Hi #Michael Arnold, marketing that has worked well has been contacting local professional groups usually have message boards that listings can be posted on, Facebook ad/sale sites, pitching the property to investment geared realtors or property management company. We at DS Huber Properties deal with primarily Lansing, MI, and when an investor wants to sell a property we can usually find a buyer with in our network rather fast to buy it. 

    Drew Brown

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  • Brian Pulaski
    Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    7y
    Originally posted by @Michael Arnold:

    @Lien Vuong thanks. What do you think is a reasonable fee from a RE agent to post a listing a on Instagram?

    Good ideas! I

    Btw - the house is a for sale by owner. We have had 70+ showing. The main complaint is that the house is a quad. People do not like quads lol! But we knew this from the beginning.

    We also didn't stage the house. I feel it's a little late now since we will likely never get the traffic. We thought that a full interior remodel would do the trick. ... nope! We just put a new roof and HVAC system since those were common complaints (also we replaced all the glass and seals in the window frames. Of course, we raised the price and re-listed on MLS.

    70+ showings? You can list it wherever you but with that many showings and no offers you need to reduce the price, probably by a lot. Internet and the MLS is where most people find houses.

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  • Michael Arnold
    OP
    Grand Rapids, MI · Member since 2017 · 71 posts · 16 votes
    7y
    @Brian Pulaski we did price reductions just FYI. From a comp standpoint we are right where we should be. I completely understand your comment. The exact same home sold for $372k just down the street. We are reviewing all the comps selling in the neighborhood. We’re at $350k and almost all new finishes and mechanical/roof.
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  • Brian Pulaski
    Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    @Michael Arnold how long ago did that house sell? The market is changing, not to mention time of year. If the house is $22k less than a similar house and no one is buying it, I assume there is a reason. As much as you think ARV has been nailed, multiple price drops, no offers and days on the market indicate the price is possible too high.

    Hopefully someone comes along and buys it for you. 

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  • Michael Arnold
    OP
    Grand Rapids, MI · Member since 2017 · 71 posts · 16 votes
    7y
    @Brian Pulaski house was listed in July. Did a price drop of $10k after about 1.5-2 months. Still no offer. Biggest complaint is floor plan/quad. Hard to change that. 2nd most common complaints were an old roof, HVAC, windows, which we just replaced for about $20k so now we’re back to the original list price. I don’t disagree with you but same neighborhood comps says we’re right in the ball park. I know I've said that lol. I do think FSBO is hurting us but my partner likes roll fsbo. What do you think about fsbo? We are paying full buyers commission. The improvements mentioned above were finished about a week ago and now we re-listed on MLS. So hopefully someone comes along with the house pretty darn move in ready. We are patient!
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  • Brian Pulaski
    Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    @Michael Arnold I sold all of my flips when I lived in CT a year and a half ago myself (FSBO). I did it through a Entry only MLS service (sounds like you are doing the same). I offered half commission as well and never had an issue. I don't know your market, but my experience is that is not the problem.

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  • Michael Arnold
    OP
    Grand Rapids, MI · Member since 2017 · 71 posts · 16 votes
    7y
    @Brian Pulaski good to know!
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  • Matt Schelberg
    Rental Property Investor · Baltimore, MD · Member since 2013 · 281 posts · 257 votes
    7y

    @Russell Brazil follow-up question to your post:  what are some good ways to identify realtors who do business in a given area?

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