Real Estate Marketing
Newspapers Slump as Readers And Real Estate Advertisers Migrate to the Internet and Other Media
The McClatchy Company, is the nations third largest newspaper chain, and it’s Chairman and Chief Exacutive Gary Pruitt recently said the advertising climate looks soft for the balance of 2007.
According to a July 20th article, “The real estate slump is compounding an ongoing structural downturn afflicting the industry as readers and advertisers migrate to the Internet and other media.”
The article goes on to say, “Other publishers are struggling, too: Media General Inc. on Thursday reported a 75 percent drop in profits, due in part to real estate troubles at its Florida paper. Dow Jones & Co. reported a 27 percent decline in earnings, although much of that was due to restructuring and stock-compensation costs.”
The article goes on to say, “Other publishers are struggling, too: Media General Inc. on Thursday reported a 75 percent drop in profits, due in part to real estate troubles at its Florida paper. Dow Jones & Co. reported a 27 percent decline in earnings, although much of that was due to restructuring and stock-compensation costs.”
“The downturn mainly reflected a significant drop in ad sales, especially at McClatchy’s California and Florida papers. Nearly three-quarters of the drop in ad revenue came from those two states, which are suffering from real estate woes. Real estate advertising was down 32 percent in California and Florida, causing a spillover effect that depressed other ad categories. ”
Meanwhile, online advertising revenues are up at most of the nation’s newspapers. Does this mean that buyers are no longer reading classified ads? Well, they are reading them online, that is why the advertisers are moving to that forum.
One great advantage to accessing real estate ads online is the ability to search by keyword, for example “forclosure,” “fsbo,” or “motivated seller.”
Another advantage to utilization of online media for real estate marketing is it’s interactivity. Links can be shared, websites can be accessed in real time, the buyer can travel directly to your property portfolio, see photos/videos of your property, etc.
It is becoming more and more important for real estate professionals to be able to keep up with this move to online media. They need to be flexable in harnessing it, showcasing listings through it, and advertising to out of state markets on it.
In the context of nationwide “leveling off” in real estate sales, ability to communicate to buyers, sellers, and property owners through their home computers can significantly make the difference between the number of days on the market it can take to go under contract.
Read Full Post | Make a Comment ( None so far )80% of New Homes are Found Over the Internet and 83% of Buyers Cited Pictures as the Most Important
Left, Lucie Thompson; right, Robert Bradley
PLAYING THE ANGLES Lucie Thompson, an agent at the Corcoran Group in Palm Beach, Fla., photographed a house on Jupiter Island, left. The company later hired a professional photographer, Robert Brantley, to shoot the same house. The results, right, speak for themselves.
The above photos and captions are reprinted from The New York Times article, “Making Every Pixel Count.” It reports, “In real estate, a picture can be worth more than a thousand words. Much, much more. When selling properties online, agents and Web designers say that the pictures buyers see of houses and apartments for sale are often the first — and sometimes the only — chance for a seller to make a good impression. Less-than-flattering pictures can turn buyers off and lead to lonely open houses.”
Indeed,
“Good photos will grab people’s attention and help you sell a home,” said Jacky Teplitzky, an executive vice president of Prudential Douglas Elliman Real Estate in New York. “Bad pictures will absolutely give you trouble, because you won’t have any calls on it, and nobody will come to see it.”
Eighty percent of people across the country who bought a new home last year used the Internet while house hunting, and they rated photographs as the most useful tool in their search, according to a survey of buyers and sellers by the National Association of Realtors. The survey also found that 24 percent of home buyers got their first glimpses of their new homes on the Web, up from a mere 2 percent in 1997.
In many cases, it is the agents themselves who are snapping the pictures and posting them on the agency Web site. Because of this, it is important that sellers choosing an agent know who will take and pay for the pictures and whether a professional photographer is available.
“It’s so important to have photos that are professionally presented,” said Rosalind Clarke, a senior sales associate with the Corcoran Group in Palm Beach, Fla.
She added that she uses only pictures taken by professional photographers, because “if things look shoddy or unprofessional, not only are buyers going to find the property unappealing, they’re going to associate you with being shoddy and unprofessional.”
But there is little point in having good photographs or beautifully written prose describing a home if you don’t have a Web site that is easy to find and easy to use — and this holds true whether you’re using a broker who will list your home on an agency Web site or you’re trying to sell your home yourself and are creating your own Web site or listing your home on a site like Craigslist.
Read Full Post | Make a Comment ( None so far )San Francisco is Simultaneously Selling Below Value and Bidding Above Value
Multiple Offers and Price Reduction
A Video Short About How Short Sales Happen
A Video View of Short Sales
Dark Side of the Boom
Miami’s rapid appreciation and new development arrived with highter taxes and huge increases in resale values spurred by out of town buyers. It didn’t take long before the cost of purchasing a home in that area far surpassed the average income per family based on the tourism-fueled job market in the area.
Developer Faces Class Action, Lawyer Says, “Just Two Years Ago, People Were Waiting in Line”
Under a purchase agreement, developers for the 337-unit Two Midtown Miami in the Wynwood neighborhood just north of downtown Miami agreed to “substantially complete construction” no later than two years after purchasers signed the contracts in May and June 2004.
Now a class action lawsuit been filed which contends units were not substantially completed within two years, as required in the contracts. According to this July 12, 2007 article by the Miami Herald, the developer’s law firm, Greenberg Traurig, responded with letters that said the two years is subject to legally defendable delays – in this case general construction delays in South Florida and materials and labor shortages.
An increasing number of buyers nationwide, many in South Florida and the Gulf Coast, are scrutinizing contracts to see if they can get out of deals as the residential market cools. Law firms are gearing up teams of attorneys to deal with the litigation.
“It is a growing problem that I expect will persist for at least the next three years,” said Jack McCabe, CEO of Deerfield Beach-based McCabe Research & Consulting. “It will be interesting to see if the courts will rule that delays in materials or shortages of labor rank like hurricanes as an act of God for developers who have run over their contractual two-year construction deadline.”
chlesinger said the current craze over canceling condo contracts is a byproduct of “a miscalculation of the Miami boom.” According to the suit, pre-construction units sold within 48 hours in May 2004. About 700 people were on a waiting list for units.
Read Full Post | Make a Comment ( None so far )Is That House Really Picture Perfect?
“Most homebuyers — about 77 percent, according to the National Association of Realtors — start their search by looking at home listings on the Internet. But the home photos they find on real estate Web sites can vary widely — from a single grainy shot to a gallery of views, inside and out.
Give the real estate agents the credit, or the blame. They’re responsible for the photos, and not all of them seem to understand what’s at stake.” Click here for the full article, and remember Investor Details works with a trained network of photographers to offer reasonable prices for photography services, you keep all the photos and we can mount them on a CD-ROM, DVD Digital Brochure or Online Portfolio email file for you. Perfect feature for Open Houses!
Read Full Post | Make a Comment ( None so far )Real Estate Investment 2.0
Investor Details began investing in real estate with traditional and creative investment strategies. We sometimes still negotiate contracts and assign them to over to our group of investors, however frequent requests for us to consult on exit strategies led brought us to equity share partnerships with seasoned investors.
Therefore, we approach our transactions in a well organized manner, run comparative market analyses, and market properties effectively, and purchase full cash or terms. Regardless, we try to make everything we do a win-win.Another activity we do as investors relates to web 2.0 marketing. Investor details brings internet branding to real estate retail listings. We offer our trademark real estate marketing services as retail solutions to homeowners, investor collegues, and real estate professionals.
Options include a flash-based website with galleries, pay-per click keywords, market
specific print / Craig’s List strategies as well as telephone management, video sharing, real estate blogs, search engine optimization, and direct response campaings and classified ad management to reach out of state buyers.
« Previous Entries
Marketing Real Estate Where Markets Are 