SMART PR : Third-Level Marketing
First level marketing is the By Owner on what is called the Hidden Zillow portal. Why hidden? Because Zillow segregates the By Owner properties from the Agent MLS property listings. Most buyers are not aware there are two Zillow portals.
Second level is when a property is entered into the MLS, which opens hundreds of national portals. A property will now be on Trulia, Realtor.com, and 100’s more property promotional sites, plus the property is launched onto Realtors sites across the USA, such as Coldwell Banker, Re/Max, eXp Realty, Berkshire Hathaway, essentially due to IDX protocol, your property moves from 1 portal to hundreds.
We asked ourselves during the housing crisis in 2008, what if Level 2 does not work? Because it wasn’t working. Properties were sitting on the market and values were dropping.
Third level marketing reaches the most prolific demographic, buyers that are in flow, but may have not found the property online. TL goes beyond marketing and into networking to proactively “find the buyer” vs “waiting for the buyer to find the property”.
Spin-Off Buyers
Near almost every property for sale, there are a cluster of other homes/condos/villas in a similar price point also for sale. Other agent Level Two digital marketing efforts to sell their listing are actually “pulling relocation and local buyers from your property”.
However, with proper follow-up and networking with those agents we are able to determine “if your property is actually a fit for a buyer that recently discovered”. Our objective in marketing your property is not always to “find the buyer” but to “find the agent that has the buyer”.
Move-up Buyers
Builders are masters at selling to “move-up buyers”. Builders know that most of their sales are often from people that live within 5 miles of their development. This is true of your property as well. While the buyer may be relocating to this area from across the country, there is a 60% probability the buyer lives within a few miles of your property.
Depending upon your price point and size of property, the buyer could be a “Move Down” as buyers downsize. This list of buyers is easily identified as it is exported out of the Realtor MLS.
Acquisition Buyer
Often within 1-2 miles of your property, there are people that own rental property, short term rentals such as VRBO or AIRBNB or other investment property. Or they may be seeking a 2nd home. These buyers are local and often international. This information is acquired via the tax records in the Realtor MLS database.
Relocation Buyers
Relocation buyers have a sense of urgency as they often operate based on deadlines. The job transfer creates an immediate need for a property purchase. The relocation buyer is often “assigned to a Realtor” who has access to both on the market and off market property. Seeing an abundant amount of inventory in a short period of time is a major factor.
Track Record Agents
This list of agents will have recently sold or listed a property around your home. As stated, our objective is “to find the buyer” however it is also to “find the agent with the buyer.” While they may find it in the MLS, we have to assume they may not, depending on the amount of existing inventory. We export this list from the MLS database. Through these agents’ marketing efforts, they may have a buyer “waiting in the wings” for new housing inventory.
Pictures Price and Profile
As part of the SMART PR program, the property itself must have exceptional right pictures. In fact, it is often wise to not use every room in the presentation of the property. Photos should elicit a positive response in the buyer. In most cases the drone photos can be what solidifies an appointment to view the property.
We are marketers, and that includes understanding how to properly price an asset to be in line with the market conditions, the property condition, and the competing properties. We believe we “move money for a living” and are responsible stewards of our clients’ investment.
A home’s profile is just like a resume. Our goal is not to sell a home, but create a visual for a lifestyle. A poorly written property profile can often turn a prospective buyer away before they even get to see the home in person. We write up a profile that is strategic and descriptive and does not give the seller’s negotiating position away.
Reverse Prospecting
The final part of Level 3 Marketing of a property is a program called “Reverse Prospecting.” There are two elements of this program. Element #1 is confidential and will not be published on this site. Element #2 is part of the MLS system. The MLS system allows us to search for buyers other agents are working with. Buyers describe their “criteria of property features”, agents key those into the program, and it notifies the listing agent of the needs of the buyer.
SUMMARY
The SMART PR program was created as a need to assist Enterprise-Rent-A-Car, Boeing, and other national corporations in the sale of their properties in the extremely competitive 2007-2010 housing crisis. We are the authors of this program.
Everything then shifts from marketing to contract negotiations. We believe we share in the wise stewardship of your property. The goal “is to not give it away.” but to understand the present and the future of the market 12-24 months out. We see our role in this phase to “determine and defend” the value based on the property and market conditions.
Bryan Kelsey
Fox Financial Relocation
President & Relocation Director
eXp Realty : Global
bryan@bryankelsey.com