Is Your Property For Sale Getting Maximum Exposure?

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Whether you own a residential or commercial property, when it’s time to sell, it’s important that your broker utilizes all the tools available to maximize exposure. The marketing strategy used to sell a property will have a major impact on the outcome. We looked at how to position a property in the best possible light in our previous article. Now we’ll move to the next step, which addresses the question: How can your broker get your property out to the widest audience?

Maximizing exposure when selling is a component I learned early on in my career as an investment sales broker, under the guidance of my mentors Paul Massey and Robert Knakal of Massey Knakal in New York City. Over the years I’ve observed how taking extra measures when marketing a property can help generate the most interest and maximize the acquisition price.

In the following sections, we’ll break down ways for your broker to spread the word and find the best buyers for a residential or commercial property.

Posting on Multiple Listing Services

Beginning with the basics, there are various channels that can be used to share information about the property. You’ll want to have your agent list your residential property on local or regional multiple listings services if you are selling it. Zillow, Trulia and StreetEasy are national services. Sites like CoStar, LoopNet and Crexi can help you market commercial properties. Make sure that your broker includes relevant information for buyers. This could include dimensions or amenities which make a home stand out. Sharing videos on social media channels like LinkedIn and Instagram can generate interest and attention. A professional video can give buyers a better visual of the property. Email lists and broker sites are other ways to communicate information publicly with buyers. These work best when e-newsletters include engaging content, and online sites are set up to accommodate mobile browsers.

Reaching Out Directly to Investors

While online communication may help to spread the word, the follow up conversations are what will help the sales process move forward. Brokers who have sold properties in the same area can use their contacts to help them sell more. In today’s digital age, postcards and direct mail can help to set apart a home and attract investors. If the piece of paper has relevant information and professional photos, they may take a look. Your broker can include contact information and follow up with a phone call if it seems like the property could be a good fit for the recipient.

Connecting with Others Near and Far

Brokers who are active in organizations will have additional resources when marketing a property. It is important for brokers to be able to reach out internationally in today’s world of connectivity. It’s not enough that a company is global to ensure that brokers can access its offices around the globe. Verify that your broker can reach a global audience. In some areas, foreign buyers have increased due to the current market conditions. They may simply be waiting for information on an asset that matches their criteria.

A successful track record

If you have a broker who has sold several properties, they will provide details of past transactions. You may be able to find a list with testimonials or references for each broker. Brokers who have established a brand can tell you exactly what it includes and how often they communicate with their investor base. I have seen how extra measures lead to higher prices, and a solid track record. These strategies are beneficial to both buyers and sellers as well as the brokerage business. Next, we will look at how to negotiate a sale. If this process is done well, it can lead to a successful outcome for all parties involved.