Sometimes this happens quickly and you have buyers lined up before the renovations are complete. Other times it seems as if your investment property will never sell. While no two properties will present the same opportunities and challenges, there are things that you can do to shorten the amount of time that it takes for you to sell your property.
The number one thing that you can do to sell your property is to let people know about it through a lot of market exposure. A common mistake of real estate investing is the lack of attention to this detail. Some investors tend to put off the marketing aspect of their investment until the last moment or fail to see the importance of market exposure. The bottom line is this: You can not turn a profit until you sell your property, and people cannot buy your property if they don't know about it. This makes marketing the most important aspect of real estate investing.
The easiest way to increase your market exposure is to hire a real estate agent. Granted, you will have to pay your agent a commission when the property sells, but this is taken out of the profits earned rather than your pocket. Many agencies will also list a property at a higher price in order to cover their commission. Regardless, listing your property is a good idea because it generates a great deal of free advertising. If you list through an agency, your property will be advertised in newspapers, online, and will even be shared with agents working for other agencies.
Holding an open house right after renovations are complete is a great way to invite the community onto and into your property and allow them to see exactly what it has to offer. This real estate investing marketing strategy is used widely and is very successful. In many cases, numerous offers are made on the night of the open house. Be sure to advertise your open house widely to bring in a large crowd.
Never underestimate the rewards to be gained through beginning to market your property early. Don't be a quiet investor. Let the community know that you are there and intend to renovate and resale the property early in the real estate investing venture. Post signs with contact numbers around the property so that people can call for information. Talk to the neighbors and make them feel like they are a part of what you are doing. You might just surprise yourself by finding a buyer before the renovations have been complete.
Offer those willing to put a faith deposit on the property before renovations are complete a chance to have a hand in selecting the materials for the remodel. You can also advertise this to find a potential buyer before the first nail is driven. Remember; real estate investing requires that you sell a property quickly. Do all you can to generate interest in your property and make a quick sale.
How To Increase Market Share
Recession is the buzz word in the headlines almost every day now. Certainly we have been through recessions before, and most of us have weathered the storms. How marketers view this time resolved itself in one of two ways. They can either enhance their company's cache of customers, or merely attempt to hold onto what they have.
When talk of a recession commenced last year, Wayne Hurlbert posted a blog dated February 28, 2007 - Recession Marketing - Winning Market Share. In it he shared this idea:
"Should there be an economic downturn, the prudent course of action is to see an opportunity where everyone else sees a crisis. One of those expansion opportunities is through increased market share.
While other business owners and managers enter into a contraction and retrenchment mode during a recession, the contrarian business person thinks in terms of expansion. When other businesses cut back on marketing and advertising, they are surrendering potential market share. There is no better opportunity to pick up new customers and increase your company's profile in the marketplace. When other organizations are cutting back, it's time to claim their abandoned market share."
These are wise words to companies who enjoy a solid marketing plan. And there are many companies who will proceed with deliberate action to capture a good market share.
Do you have a trade show in your plans?
If you have a scheduled show in the next few months, now is the time to go over every detail of just what you will be doing there. Naturally, there will be potential buyers who will pay their own expenses and come to the show to hear your sales presentation. Honor that commitment of time and money so that every visitor knows you are taking him seriously.
Bill Sell of Advisor Communications, a veteran of many marketing cycles, offers this advice for your show planning:
"2008 looks to be a somewhat slower market than the past couple of years - and this is actually when face-to-face marketing can make all of the difference. Customers are slowing down with their purchase planning and looking around more - and trade shows are ideal for this type of behavior. Exhibitors should focus on demonstrations in their booth, case studies showing results past customers are getting, and even have a few fact sheets or white papers to distribute. The trick is to become part of the customer's evaluation process, make it easier and faster for them, and not to go overboard on the extras.
Design exhibit booths to be functional and include a small conference table to have that deeper discussion opportunity. Focus on the basics of your product and spell these out with your graphics and signs. You need to help the attendee - the buyer - feel you understand their concerns for value and budget."
Utilize your tradeshow presence through other marketing devices that outreach to those who were not able to attend. Capture the theme of your show booth and extend it in various mail pieces, or email communications to let them know the value your product or service and what you have to offer them. Even in a tight economy a potential customer may be able to see the worth of your products or services and the value add to their business by coming onboard.
If there is to be a White Paper given out at the show, make sure non-attendees have it ready at their fingertips. These can be sent electronically or mailed with a note from you letting them know how much you value them and want to keep them in the communication loop. Make them feel that special, personal touch that includes them even though they were non-attendees.
Effective and comprehensive marketing communication can keep you in the forefront of the customer mind. So make sure to review your communications strategies that have worked for you in the past and consider new, experimental ones to implement today and in the future. Prospects always appreciate that your company considers their wants and needs paramount to your effectiveness.
Ask yourself: how does what I'm offering solve their problem and save them time and money? Answering that question can position you for additional sales.
Both James Klobasa & Joyce Mckee are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
James Klobasa has sinced written about articles on various topics from tax, Marketing Secrets and Arts. James Klobasa, once broke with no job and $20,000 in debt made a choice that changed his life forever. That choice was investing in Real Estate. With the founder of, The Little Building Co. you too, can learn at. James Klobasa's top article generates over 135000 views. Bookmark James Klobasa to your Favourites.
Joyce Mckee has sinced written about articles on various topics from Trade Show Displays, Trade Shows and Small Business. For 25 years Joyce McKee has helped companies succeed in the trade show and event world. Keep up with the latest trends her new site at . Joyce Mckee's top article generates over 4400 views. Bookmark Joyce Mckee to your Favourites.
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