Why do we place an ad on a new listing in the paper? We do it because our Sellers want us to, because we hope someone will call us on it, and because that's how we were taught to do it.

I think we need to examine this a little closer. An ad that describes a specific property may have a narrow appeal. A potential buyer may look at the ad and disqualify the property as being too big, too small, wrong location, priced too high, looking for something less expensive, and a number of other reasons. Therefore, they won't call you on the ad. So how do we overcome these objections if we don't have the opportunity to talk with that potential buyer?

We have at least two other opportunities available to us. We need to change our approach to marketing our properties.

Here's your first opportunity. If you or your company is going to spend money on print advertising, why not place generic ads:

"Call us for a list of condos priced under $300,000."
"Call us for a list of lots close to the beach," or
"Call us for a list of short sale properties."

Do you think these types of ads will make your phone ring more than an ad that says "cute, cozy bungalow located near town." The "list ads" are not related to one specific property, and therefore may appeal to a greater segment of potential buyers. There is no one thing in the ad that a potential buyer can object to. In addition to talking to potential buyers about your new listing, you now have a new audience from which to draw to discuss your other listings.

The second opportunity is the internet. The NAR Profile of Buyers and Sellers for 2008 reports that 90+% of home buyers aged 44 or under used the Internet as a source of information during the home buying process and that 87% of all buyers, regardless of age, did the same. It is expected that 90% of all home purchases in 2009 will involve the Internet. If you don't have a web site, you need to consider getting one. Then you need to get an experienced "techie" involved and talk about web site optimization. Once you've entered the world of technology, consider using the same ads on your web site as mentioned above.

As our real estate world changes on a daily basis, we also need to be open to change, to embrace new ideas, and to try new methods of working with buyers and sellers. Hope this information helps!

See you next week!

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