Archive for the ‘Real Estate Sales’ Category
What Luxury Agents Do for That Sale
Posted by Sibet B Freides in Demographics, Real Estate Economics, Real Estate Sales, Real Estate Trends on November 8th, 2011
According to the LA Times, real estate agents listing an $8-million home in Santa Monica wanted to ensure a good crowd for an open house last month, so they hired a stilt walker, shirtless male jugglers and a contortionist who floated in the pool, encased in a clear plastic bubble.
Nearby, an agent stationed models in front of a new condominium project. Wearing velour robes and flip-flops, the young men and women served free drinks to promote the cocktail hour lifestyle at the development.
Still another went all the way to Spain to drum up business.
When marketing a multimillion-dollar mansion, a plate of cookies and free coffee simply won’t do in today’s new market. Agents have been outdoing themselves to help get through this market.
Aerial Showgirls, Thai foot massages, and Botox treatments… is all this really necessary? Although agents are putting up thousands of dollars for these remarkable parties, they are definitely seeing up to three times the traffic than they would with a simple display ad or a listing on MLS and some generic signage.
Agents are treating buyers seeking homes in the $2-million and more range like royalty, including facilitating their home tour starting with a red carpet.
Sometimes, it can be as simple as putting a new spin on an old standby, such as staging.
A recent agent recruited a well-known interior designer to outfit the home with vintage and contemporary furniture and art, which was then offered for sale at the open house.
He told the LA times that the cost was less than hiring a traditional staging company, the event drew about 200 people and the property received multiple offers, selling at nearly full price within a week of coming on the market.
To get foot traffic, a condo agent put a new “spin” on a sign-spinner by hiring models to hand out fruit drinks on the sidewalk… and beer, wine and mimosas to adults that came in to see the model units. The agent spent about $5,000 but sold four units on the weekend following Thanksgiving.
What’s the bottom line? You may be afraid to spend the money and think outside the box, but this is the time to go above and beyond and really draw attention to your properties. While we don’t think you should pull out all the stops and hire a circus, there are some worthwhile ideas in the shock and awe mindset that might just get you results.
Home Buying Based on the Seasons
Posted by Sibet B Freides in Real Estate Economics, Real Estate Sales, Real Estate Trends on August 10th, 2011
The best time to purchase a home is in the late fall or early winter. For buyers, you want to look for homes when supply is higher than demand, which gives you greater negotiating room. Purchasing when supply is low and demand is high puts you at a decided disadvantage.
Of course, buyers naturally are less inclined to move as they get closer to the holiday season. If the purchase and closing process takes three months to complete, and the house is purchased after Labor Day, the new homeowner could end up with a move-in date right around Christmas. That’s too much stress for most homebuyers. If you can handle the pressure, buying a house in late September may offer you a wider selection of affordable houses.
Conversely, toward the end of February and spring just around the corner, for-sale signs start popping up everywhere. The winter is ending and sellers want to get the house on the market as soon as possible. Likewise, buyers begin contacting real estate agents during the spring so you’ll have more competition for the house you want.
What do you think? When is the best season to buy or sell your home?
An Overlooked Priority for Homebuyers
Posted by Sibet B Freides in Real Estate Sales, Real Estate Trends on August 3rd, 2011
There seems to be something happening this year important enough to make it a 2011 trend. More than ever, buyers are asking about crime rates, security, and assurance of a safe investment.
Cash buyers want to know they are investing in something safe, which is one reason they are taking money out of the stock market and banks. Long-term buyers are considering a multi-generational future. When your focus is on children and grandchildren, security becomes critical.
It doesn’t stop with traditional homebuyers: condo seekers are looking for on-site security service, a 24/7 front desk, and well-positioned security cameras.
Why the surge in interest?
Although rates have dropped in the last two decades, according to US News, an index score of 100 is equal to the national crime rate, meaning that many major US cities average an index of 350, meaning they have a crime rate more than three times the national average. Where does Atlanta sit on the chart of Top 11 Most Dangerous Cities? Number 2; shamefully holding an index of 484.
How important is safety and security to you in your home buying decision?
Surprising Condo Market Recovery – Can You Guess Where?
Posted by Sibet B Freides in Real Estate Economics, Real Estate Sales, Real Estate Trends on April 28th, 2011
The hardest hit real estate market in the U.S. is making a resounding recovery! The Miami Association of Realtors report that existing condo sales topped 1,500 units in the month of March. That’s an 85% surge in the market!
It’s surmised that lower priced units and record low mortgage rates are responsible; however, these low prices actually attracted a large percentage of cash buyers. In fact, more than 64% of buyers paid cash.
What is not surprising is that buyers came from around the world to get their hands on American condos at the lowest prices in more than 15 years: more than 90% of new construction condos were purchased by non-U.S. buyers.
What do you think this means for the overall market recovery? Is this a step in the right direction, or is that fact that 60% of all closed residential sales in Miami-Dade County were distressed giving us false hope? Do you think this is unique to the Miami market, or a starting trend for Condos?
Is a Vacation Home Out of Your League? Not Necessarily…
Posted by Sibet B Freides in Real Estate Economics, Real Estate Sales, Real Estate Trends on April 26th, 2011
Have you been dreaming of a vacation home? Are you resigned to the idea that the current market is making your dream impossible? Think again!
Second homes/vacation/pre-retirement homes are priced right. If you were even remotely thinking of buying, there will probably never be a better time. Prices are reduced, and many distressed deals are being purchased at .30 cents on the dollar.
Conversely, beware when purchasing distressed properties because you won’t know the future of the project. Is there an active HOA to manage finances and other issues? What happens if an investor buys the project? How would the future inventory be priced? Unfortunately, along with affordable pricing comes a lot of unknowns.
At Idea Associates, most second home purchases we are seeing for our clients are cash deals. Anywhere from downsizing to Intown Condos to planned retirement housing in second home neighborhoods – many are bought with cash. The price is lower so buyers can afford to pay with cash, especially since most can’t get financing anyway with banks’ new stringent policies.
With the future so unsure, most buyers don’t’ believe they are making money in investments for these second homes, so they are choosing to buy something they want for the future instead.
Have you personally considered taking advantage of the prices and buying a second home? If you’re a builder, developer or agent – what are the trends you are seeing?
5 Reasons to Form a Joint Venture
Posted by Sibet B Freides in Marketing, Real Estate Sales on April 6th, 2011
What exactly is a joint venture and why should you do it?
A joint venture (JV) is when you collaborate with another person or company to share your expertise and also any revenue created.
Interviewing top experts or being interviewed is a wonderful service to offer to your list, plus it can be profitable for you if you promote each other’s products and services. You can promote such interviews to your list and have it reciprocated by your JV partner, which will build your list of contacts. You can also promote these interviews via social media marketing.
Still not convinced? Here are five great reasons to form a Joint Venture:
1. Expands your audience. From a list-building perspective, a good JV will give you exactly what you want: a (fast) new audience of people in your target market.
2. Increases your credibility to your community. Yesterday’s expert paradigm is long gone – today instead of broadcasting your message it is much more valuable to rub elbows with other experts in your niche.
3. Spreading costs. You and a JV partner can share costs associated with marketing, and other expenses, reducing your financial burden.
4. Access to new markets. You can combine customer contacts and together even form a joint product or service that accesses new markets altogether.
5. Strategic move against competition. A joint venture may be able to better compete against other industry leaders through the combination of markets, technology, and innovation.
Idea Associates has proudly collaborated with many other experts in the industry, including ULI, Barrett Design, Inc, Market Solutions Group and more. Let us help you find your perfect partner to grow your business today!
Shift in Buyer Wants and Needs
Posted by Sibet B Freides in Demographics, Real Estate Sales, Real Estate Trends on March 29th, 2011
Aging boomers are reluctant to sell their homes for two reasons. One, they may be in trouble with their mortgages and are waiting for the market to rebound and two, they are healthier than their parents’ generation and will likely delay the move to retirement community living.
Will a market exist for their homes when they are ready to sell? Only time will tell. However, the income constraints and lifestyle demands of a shifting population may dictate a very different future for real estate.
These changing needs along with the demands of the expanding Echo Boomer generation is forcing the real estate market to respond in new and different ways.
According to a 2009 study by RCLCO, both retiring baby boomers and maturing echo boomers are looking to move away from the suburbs they’ve spent their lives in. Both groups reported wanting to live in more urban, mixed use, mixed age areas that offer services, community and walk-ability.
How does this changing market most affect your business? Share your successes and struggles with us here on the blog, or on Facebook or Twitter.
Five Ways to Ease Prospects’ Uncertainty
Posted by Sibet B Freides in Marketing, Real Estate Economics, Real Estate Sales, Real Estate Trends on March 28th, 2011
According to the NAHB, newly built, single-family home sales hit a record low in February, declining by 16.9 percent to be exact.
These numbers reflect the continued uncertainty of consumers in the overall economy, not just that housing recovery is hesitating. While the economy is the primary concern of most Americans right now, even qualified buyers are struggling with the challenges of new lending terms and conditions and low appraisal values on new construction.
Here are five ways you can ease prospect uncertainty about buying in this market:
Remind them that interest rates are going up. Because of the low cost of homes right now, there will not be a better time to buy. While they wait to decide, 1/8 of a percent continues to be added to the overall, long-term payment.
Show the comparison of renting versus owning: owning still has a tax advantage as well as all the benefits of making it their own, such as choosing the colors they like and renovating to personal taste.
Change your message. In the past 10 to 15 years we have made buying a home about an investment. Now it goes back to being about a home not a commodity. Interestingly that coincides with the Gen X and Y buyers who don’t care about investment as much as they care about it being “theirs” – about them and their taste.
Engage in conversation with your prospects, over social media and in person. Hear their concerns and address them accordingly. Today’s buyers want personal attention, not necessarily always solutions. They want to be heard.
Use Social Media and give away helpful information, whether they buy from you or not. Social Media marketing allows a forum where you can be the expert go-to person for all your buyers’ questions, worries, and needs.
At Idea Associates, we don’t just put your advertising message out there. We are partners and consultants to our clients reach their goals from start to finish. Let us help you ease YOUR prospects’ minds about buying from you today.
Idea Associates Partners with Barrett Design for New Store Opening
Posted by Sibet B Freides in General, Real Estate Sales on March 17th, 2011
Idea Associates recently collaborated with Johnna Barrett of Barrett Design, Inc. to design the new retail location of Shoes for Crews in Las Vegas, Nevada. Interiors by Barrett Design, Inc., graphics and signage by Idea Associates.
The sole that changed the industry
Shoes For Crews® began producing slip-resistant footwear in 1984 and through superior technology quickly became the industry leader. Over the years they’ve stayed on top by working hard to deliver an unbeatable product at a great price. Of course customer safety and satisfaction is their ultimate goal and they deliver the world’s best slip-resistant footwear.
Take a look for yourself, let us know what you think!
Did The Google Algorithm Change Effect You?
Posted by Sibet B Freides in General, Marketing, Real Estate Sales on March 2nd, 2011
Google recently announced one of the biggest changes to its search algorithm to date.
The soul purpose according to Google is to improve the quality of search results with the most relevant sites. People are immediately worried about what will happen to their rankings and keywords. To the relief of most, a lot of sites won’t see any kind of change.
The new algorithm takes aim at the content farms that have longed plagued the Internet. These are sites that usually contain a ton of links with information that is not original to that particular site. We have been hearing about the importance of quality and original content and this recent change reinforces that. Google will now give more credit to sites that appear to have the highest quality content and is the original source. This change also makes quality link building more important as well. It is also advised to add a little diversity to your website such as videos, photos, or audio.
Don’t forget about writing. Having a website with poor copy is an almost guaranteed way to rank lower in search engines. Not only will Google deem your content low quality, but also bad copy will not encourage link building from other sites and social network shares.
So what does this mean? Don’t panic if you’re a real estate blogger or your company has a blog. Just make sure you are producing something worth reading and it’s original.
