Marketing Campaign Status Update
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Everything You Should Know About "The Competition"!
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Client(s),
I realize this is a lot of information so please "take the best and leave the rest"! Please be assured that our comprehensive Traditional Media & Internet Based Marketing Campaign is in full force and that your property is being listed on MLSpin.com the nation's largest real estate database! You will also continue to receive daily email updates containing new property listings similar to your property...the best way to keep an eye on the market on a daily basis. This process is truly all about global exposure and a comprehensive marketing strategy...combined with a competitive price. As you may have seen by now, buyers base their decisions upon the current market conditions and the price of the competition!
The absolute best advice I have to offer is that the very first "ready, willing and able" buyer will inevitably pay the highest possible price based solely upon my recent experiences with numerous property listings! In fact, this market is so sensitive to price and so exposed to technology; the initial level of excitement and subsequent activity will taper off in the first week or two after launching your property on the market. Although Downtown Boston's residential real estate market has suffered far less than most, there are simply far fewer buyers and subsequently far fewer closings in this market. The last three years has taught me that it is always better in the end to respond appropriately to the current market conditions; rather than setting ourselves up to suffer disappointing results later on! And although we have had ??? showings were/was ???...it was the ???/only inquiry to date which should speak very loudly!
To be successful in this market you need a competitive price
and an experienced closer to position your property to attract
the buyer who will pay the highest possible selling price!
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The only true barometer of the market I value is the activity level! In my experience if the activity level is low, nine out of ten times the reason is that the market simply disagrees with the price. On the other hand, if there is significant activity and no or low offers, again I believe the market simply disagrees with the price. Sellers sometime assume it is simply a matter of time waiting for the right buyer? Trust me this is a mistake as buyers in this market begin to dismiss property listings as "old or tired" inventory within the first thirty days! Then, they either wait for new inventory or significant price reductions...not a very strong negotiating position to sell real estate! Instead I respectfully suggest that we acknowledge the reality of the feedback and strategize accordingly as the laws of supply and demand are based on this level of activity!
The Following Statistics Are Current
As Of The Publication Of This Email!
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Up to Date Statistics of Your Property's Activity:
| Days on the Market: |
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| Individual Showings: |
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| Open Houses and # of Visitors: |
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| Multiple Listing Service Visitors: |
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| Realtor.com Visitors: |
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| RichHaen.com Visitors: |
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Last ? Day Market Snapshot In Your Price Range
Neighborhood? from $???.???.00 - $???,???.00:
| New Property Listings: |
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| Price Changes: |
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| Off the Market: |
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| Back on Market: |
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| Under Agreement/P&S: |
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| Sold/Closed Properties: |
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Depending upon your time frame, I recommend that??? we reduce the price early next week to $???,000.00 as originally discussed...this will give you more time to think and maybe more feedback? My opinion is that with this amount of new competition adding pressure to the inventories, if we are not proactive your property will continue lingering on the market; which will ultimately cost you more money by selling for less if this property becomes "old" or "tired" inventory in the minds of the buyers. Otherwise, if we do nothing I think we will see the same results we have to date! However please rest assured that your property will continue to be marketed as agreed...and in the most positive light!
The Following Is What I Call "The Real Competition"!
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The "Currently Available Short List"...Btw, I am only comparing your property to other comparable from ???k to ???k:
Statistics:
Available Listings: 45 (lots of competition!)
Avg $: $514,389.00
Avg $ per Sq': $553
Avg DOM: 74 (which means most of these are overpriced and lingering on the market...so when comparing your price with these properties, please review the # of days they have been on the market "DOM")
The "Under Agreement Short List"...Btw, I am only comparing your property to other comparable from ???k to ???k:
Statistics:
Under Agreement Listings: 45 (not closed yet!)
Avg $: $514,389.00
Avg $ per Sq': $553
Avg DOM: 74 (at this point we do not know what these properties have sold for...so when comparing your price with these properties, please keep that in mind)
The Following Is What I Call "The Facts"!
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The "Recently Sold Short List" or what I like to call the "The Facts"...I am only comparing your property to other comparable properties sold in the last 6 months between $???-???...many of these properties were on the market for months...note the price reductions!:
Statistics:
Sold Listings: 20
Avg Listing $: $621,990.00
Avg Selling $: $603,530.00
Avg DOM: 74 (which means most of these were reduced..so when comparing your price with these properties, please review the # of days they have been on the market "DOM")
Let's keep an eye on the competition's price
to ensure your property sells...
Rather than helping sell the competition!!!!
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Please note that the Next Two Emails you receive from me...
Immediately following this Marketing Campaign Status Update, you will receive an email with a detailed list of what I refer to as "The Real Competition" consisting of All Available Properties in your price range. I will also send you a second email with what I refer to as "The Facts" consisting of All Sold Properties in your price range. |
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