What are people doing to increase traffic of qualified buyers to their listings?

Asked by Ruthmarie Hicks, Westchester County, NY Sun Sep 9, 2007

With the market in a slow-down and credit tightening dramatically, inventory is very high and the "competition" from other listings is stiff. With the pool of truly qualified buyers dwindling, what are you doing to make sure your listings are not overlooked or passed by?

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9
Pam Winterba…, Agent, Danville, VA
Sun Sep 9, 2007
Personally I have been placing a lot of ads on craigslist for both properties and services I provide.

Also I have found my posts on vflyer.com, postlets.com and point2agent to get market presence and client activity are working.
Web Reference:  http://pamwinterbauer.com
1 vote
Ruthmarie Hi…, , Westchester County, NY
Sun Sep 9, 2007
One of the reasons I haven't "hit" too many apartment buildings is that most have very large signs that say "no soliciting." The complexes mean business because the last thing the managers want is for agents to be "stealing" their tenants. Direct mail is the only alternative and even if sent in bulk becomes wildly expensive. I did this my first year - farmed a complex with a known high turnover. Spent $4k by mailing every month for over a year and never even got one response. $4k is too much to pay for no inquiries - particularly since one average commission at this level is under $3k gross.

Bottom line: I would have to have a good idea that there are significant number of untapped buyers in complex before I would try that again. I also have a couple of customers from these complexes and they say they get so many mailers from agents that they could paper the entire apartment with them . So I have to have a good sense that whatever other mailings I do to such places is inventive enough to "stick."
1 vote
The Hagley G…, Agent, Pleasanton, CA
Sun Sep 9, 2007
I thinlk it's critical to "create" qualified buyers. If you're dealing with entry level homes, home buyer seminars that are fun and interative are effective. Also hit apartment buildings in your neighborjhood.FHA loans may help fist timers get into the market. Market a price point (don't forget APR) and appeal to first timers that way.
Web Reference:  http://www.cindihagley.com
1 vote
Paula Bean, , Orlando, FL
Sun Sep 9, 2007
Hi Ruthmarie,
I noticed your email because it came from White Plains, NY. I will be there the first week of October giving a presentation on real estate consulting.

You may or may not like this concept, but for many veterans and newbies alike it has been a great money-maker, lead generator and USP.

For more information, and if you'd like to attend this seminar (it's free) go to http://www.ACREcourse.com.

Feel free to contact me with any questions, or sign up for the newsletter if you just want to learn more.

Life is tough all over now, only the strong will survive, and those who adapt to the changes in the market.
1 vote
Carrie Crowe…, Agent, Southaven, MS
Tue Sep 11, 2007
That is a good question Ruthmarie, I see you got one of the answers you were looking for from Patrick. I have a seller who is also considering seller financing. It is a touchy market. You have to do what you can. Way to think outside the box Patrick!
0 votes
Ruthmarie Hi…, , Westchester County, NY
Mon Sep 10, 2007
Thanks Patrick,

You gave me just the info I was looking for. I am probably getting a listing from a seller who is moving up. I was thinking that I would suggest something in the line of seller financing in order allow more buyers to qualify. I just wanted to see what the other suggestions were and if anyone else would bring up the idea.
0 votes
Mr.P, , Arizona
Sun Sep 9, 2007
Ruthmarie,
This is what has worked for me in the last six weeks.
Owner Financing, Buyer want to buy, but cant qualify.
House Swaps, Some want to move up, some want to move down.
Expired listings, they want to sell so they can buy.
Later Gator
0 votes
Greg, Both Buyer And Seller, 08536
Sun Sep 9, 2007
I personally think whether or not home will sell is usually based on two things and that is the price you’re asking and the condition of the home you are selling. When you price your home correctly and you’re in a balanced or even seller’s market there should be plenty of interest and showings. Sometimes we're in a slow buyer's market and there are more homes for sale than qualified buyers to purchase them, no matter what you do the traffic will be slow.
I've seen some make open houses, put up balloons all over the neighborhood which only bring people from the neighborhood or Sunday drivers who drive around and go to open houses just to look around and if they come across a generous Realtor who put a few donuts out, its like hitting a jack pot for some.
:-) Good Luck.
0 votes
Cherin Cox, Agent, Houston, TX
Sun Sep 9, 2007
I just love constantcontact.com you can email to your database and tell them to forward to their friends. Its great...
Web Reference:  http://www.cherincox.com
0 votes
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