Magnetic Real Estate Leads
Speeding Commercial Real Estate Sales in Slow Markets
Effectively building commercial real estate wealth requires the ability to spot a great bargain and the ability to sell that property well, no matter what the state of the market. The real estate market is notoriously cyclical in nature and somewhat difficult to predict. The market for local and national real estate can turn quickly and it is important for every investor in real estate, from the largest player to the smallest, to have strategies in place for selling properties in down markets.
In a hot real estate market, of course, little marketing is required. We have all heard the stories of bidding wars breaking out in the residential market at open houses in California and elsewhere. In the commercial world, it’s not unusual to have 30, 40, or more institutional and private investors bidding on a piece of prime commercial real estate in a strong urban market. In these kinds of markets, all a Seller needed to do was hang up a metaphorical “For Sale” sign and wait for the hordes of buyers to appear.
Of course, these markets do not last forever. Lately, we’re seeing some pressure on cap rates as short term interest rates have climbed in response to the Fed’s tightening. Those formerly “hot” markets have become “luke-warm” markets and are cooling further. As prices for residential and commercial real estate spiraled ever higher, more and more buyers found themselves priced out of the market. Even the creative financing schemes created by mortgage lenders often failed to close the gap. In hindsight, the downturn seemed inevitable, but many failed to see it or prepare for the inevitable slowdown to follow.
Fortunately it is not too late for sellers of residential and commercial real estate to get the most out of their property, even in a slowing market. Listed below are some strategies for turning that “For Sale” sign into a “Sold” sign.
• Price the property properly. The market will tell you what you property is worth, regardless of what you think. Price the property realistically, especially in a down market. It is important to understand that the value of a particular piece of real estate is derived not only from the underlying value of the property itself, but by market conditions.
• Offer incentives to attract buyers. Offering unique incentives can go a long way to boost the attractiveness of a particular piece of property and help you stand out from the crowd. Some sellers are including perks like free plasma TV’s, vacations, sporting event tickets, and other unique incentives. What’s important to note about these offerings is that while they represent a very small percentage of the value of the property being sold, they create traffic, interest, and distinguish you from the competition.
• Don’t overlook the value of curb appeal. How your property looks from the outside is an essential part of marketing, called “packaging.” Enhancing your property’s curb appeal can often be achieved with little expense. Consider painting, re-landscaping, signage, and minor parking lot repairs. Between two similarly priced properties, the better looking one will probably get sold faster.
There is no doubt that selling a property in a down market can be a challenge, but the good news is that these strategies can help to preserve those hard earned profits.
WANT TO USE THIS ARTICLE IN YOUR E-ZINE OR WEB SITE? You can, as long as you include this complete statement with it: ??The Investment Property Insider? is published by Craig S. Higdon, a veteran commercial mortgage broker. He publishes the weekly e-zine and blog, www.InvestmentPropertyInsider.com, for commercial real estate investors, developers, and industry professionals. Visit the blog and get this free report: ?The 7 Biggest Loan Mistakes Real Estate Investors make and How to avoid them.? ?
Tips on Real Estate Lead Generation -Especially in a Slow Market
Aug 08 2010
Posted by Greg Reed as Traffic Generation
RealEstateLeadKit.com In today’s market real estate lead generation is the #1 step toward financial independence. Learn the key and how to capitalize on today’s market conditions.
Real Estate Leads – Slow But Very Effective Process
Aug 08 2010
Posted by Greg Reed as Traffic Generation
You want to grow your real estate business then online lead generation companies are the biggest source for real estate leads from TSL. Sometimes these lead generation companies’ gets dissatisfied because agents are expecting more services from them. Even agents do not have that much knowledge so that they can follow up with their real estate leads.
Firstly, you should understand that these lead generation services are not creating any magic for you. You should not expect huge list of leads from such services. These services have some standard pattern of working. Their basic criterion is that they will give you leads only in your specific area. Generally home owner fill out a contact form and this contact form is sent to the agent in the form of lead. So, exact meaning is that the real estate leads from TSL provided will be of all those people who are in specific requirements at different stage. You are an agent and you have signed with a real estate company for a three month contract and you are not going to get a list of lead in very first month.
There are companies who have analyzed almost one million real estate leads from TSL generated online and they have compared all of them to the public records. The analysis has found that only 7% of the persons have sold their house after filling out the lead form. But, last 12 months record now says that this percentage has grown to 22% and now after 28 months it has reached to 40%. So, if you are planning to purchase a real estate leads then it will surely be a long term investment for you. So, do not consider it as an immediate source of income for you. You should remember that this leads needs to be followed up very aggressively so that you can easily convert them in to your clients.
Make sure that as a real estate professional you must consider any lead generation service like any other marketing campaign. Let us say that if you are running one marketing campaign in which you send direct mailers to 5000 customers, what will be the result of it? Are you going to get the listing of all 5000 consumers? Definitely your answer will be no, it is not possible. These direct mailers will generate your desired result but it might take a time. May be you will see the result within next two years and then you can plan them to convert them into your future clients. So, like this you can accumulate the real estate lead from TSL over a next couple of years.
Generally, all online lead generation companies get four different types of leads; such as: health insurance leads, life insurance leads, mortgage refinance leads and other types of sales leads for insurance agents and mortgage brokers. They are buyers, sellers, refinancers and fakers. Complete scenario depends on consumers. You can see that the buyers are having great potential because you can sell your listing to them and also they can also tell you to list their current home, so like this you would be able to get double lead. So, you can get the success with the real estate leads from TSL only if you have a strong follow up. Keep patience and do the consistent follow up. You will surely get a success but remember it is going to take some time.
I have been a marketing and advertizing researcher for over twenty years, with a IBM. I’ve been an article writer, newsletter publisher and shareware author since 1995. Since becoming a mom, involving my kids in my life for writing spurred my interest in children’s use of online writing and publishing. My weekly newspaper column appears in my hometown paper Dallas Observer and maybe yours too! It is syndicated nationally.
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