Real Estate Marketing

Don’t Drop the Price!

When a property hasn’t sold in a few weeks, the first thing many Realtors do is lower the asking price—but this can annoy the seller and eat into the agent’s commission.

So instead of lowering the price, try raising the value.

Most real estate agents use the carpet-bombing approach to marketing—provide the basic facts about the property and try to place those facts where the maximum number of people can see the information.

This works fine most of the time. But what do you do when you have a unique property that may not interest the average buyer?

In that case, you target the outliers. A strategic, engaging narrative combined with a targeted marketing campaign can open up a lot more opportunities to sell.

A Case Study

The Challenge

The 2-bedroom, 2.5 bath, three-story townhouse for sale was 24 years old, the bathrooms and kitchen needed updating, and the layout didn’t work for families with small children. Even more challenging, a brand new townhouse complex had just been completed less than 100 yards away, with an asking price of $25K less than what we were hoping to get for the older property.

To find just the right buyers for our townhouse, we needed to tell just the right story.

The Program
For the major listing sources (MLS, Trulia, Zillow, etc…) and the agency website, we created a narrative targeting people looking for a quiet, luxurious, retreat. We highlighted the over-sized master suite, the mountain views, and the quiet complex.

We then took the still photographs taken of the property and turned it into a narrated video tour of the townhouse, both showing and telling the story of what made this place so special.

Then it was time to target our message.

We planned a hyper-targeted Facebook campaign specifically to hit distinct buying personas, regions, age ranges, and income ranges:

1) Luxury Living for One
The 2bd townhouse you deserve is now available—Perfect for when you are ready to downsize but still want to pamper yourself.
Ages:45–65
Location: 50-mi radius
Income: $100,000–$300,000

2) Book Lover’s Paradise
Your dream townhouse is now available— Finally, enough space for all your books, in a town with 4 independent bookstores.
Ages: 30–65
Location: 50-mi radius
Income: $75,000–$300,000

3) International Feel in Small-Town America
Now available—This spacious 2bd townhouse in a picturesque New England town comes with European amenities and is perfect for anyone relocating to CT.
Ages: 25–65
Location: Europe, Asia, India
Income: $75,000–$300,000

4) Queer Eye for the Small Town Guy
Now available—Spacious 2bd townhouse with amazing master suite & bath in an LGBT-friendly small New England town.
Ages:30–65
Location: 50-mi radius
Income: $75,000–$300,000

5) The Perfect Get-Away Condo in the Country
NYC Commuter’s Dream—This spacious 2bd townhouse in a picturesque New England town is walking distance to MetroNorth.
Ages: 25–65
Location: New York City
Income: $75,000–$300,000

6) A Foodie’s Retreat
Now available—This spacious 2bd townhouse with a large eat-in kitchen lies in a picturesque New England town with some of the best restaurants and markets in the state.
Ages: 30–65
Location: 50-mi radius
Income: $75,000–$300,000

Finally, we created a direct mail package for several of the larger corporations in the area, showcasing the townhouse as a perfect relocation spot for an incoming international executive.

The Result
The townhouse was sold at the full asking price. The buyers were an older couple who were looking for a country home within a commutable distance to the city.

 

Now It’s Your Turn

Do you have a property that isn’t moving the way you hoped? Let’s work together to figure out the right story, targeted to the right place, for the right buyer.