| The Lehigh Valley's growth continues to outpace analysts expectations. From preparing your residential or commercial property for sale to pricing and marketing, Troy Pressens, together with Long & Foster Realty, offers a comprehensive and proven Seller's Marketing System that will enhance the management of the property's sale to its final closing. Our system includes a multi-tiered campaign to cover all possible areas of exposure for your property.
Our Seller's Marketing System is organized into 3 compressive phases to guide you through the sale process.
3 Phase Marketing OverviewPhase 1 Market Preparation
Phase 2 Advertising and Strategy
Phase 3 Negotiating the Offer to Closing
We use certified web and graphic designers to properly promote your property. Our advertising and promotions are tested and have resulted in finding buyers for all property types.
Phase 1 Market Preparation
"Each property is unique." I begin with this principle prior to every sale.
The first step to selling your home is to assess what unique characteristics your home possesses. The key is to have your pricing and terms reflect these positive and negative attributes in a way which will make sense to both the seller and prospective buyers.
To effectively assess the value of your home, we use a variety of pricing models. The model selected will depend on the type of property being sold. Some of these tools include the following:
- Comparable Sales Data
- Replacement Cost
- Capitalization Rates
- Cash Return
- Earnings, Profits and Losses Statements
- Assets, Inventory
Other variables that will effect the pricing of your property may include the following:
- Location, Market Perception
- Property Features
- Business/Economic Trends
- Interest Rates
- Best Use/Zoning Variances
The next step is to compare the assessed price against existing competition. We will look at other active sales of similar properties as well as properties in similar locations. Properties that fall within the same price range and location will also be assessed allowing us to finalize the best price range for your home.
Once the price is assessed a punch list will be issued to the seller. The punch list will highlight what can be done to present the property in the best light for the buying public. After this we can take the property to market.
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Phase 2. Advertising and Strategy
Once we have developed an offer price and prepared the property for showing and sale, we need to create an advertising strategy to find qualified buyers. For hard to sell properties such as vacant lots, builder spec homes, new developments and pre-construction offers will require additional customization.
Residential Sale Marketing Program
- The Basic Residential Sale includes the following;
- A detailed and enhanced NJ or PA MLS Listing
- An enhanced national realtor.com listing
- Direct mailing to complex or subdivision
- Magazine advertisements
- Talking house
- A Yahoo.com Real Estate Listing
- A Craigslist.com Posting
- PrudentialFinehomes.com Posting
- Wall Street Journal Internet Posting
- A listing on our Corporate Web Site
- Broad Cast e-mail brochures to 2500 Real Estate Agents
- Demographic Target Marketing with sales salesgenie.com
- Fax-on-demand and E-Mail-on-demand brochures
- Enhanced yard signs
- Local newspaper open house adds
- 360 degree virtual tours
- full color brochures and mail pieces
- Multiple photographs
- Custom Web Site Development
- Custom Web Marketing Plans
- Direct Mail to large targeted audiences
- Broker?s Opens, Cocktail Parties & Invitational
- Broker-to-Broker direct mail and email marketing
Commercial and Business Sale Marketing Program
For business owners, portfolio managers and investors, I offer a complete package designed to advertise and manage difficult sales. The advertising tools are similar to an advanced residential sale, but tailored to suit.
Loft Conversions and Commercial Living Space
Apartment, Hotel and Motels
Development and Pre-Construction Offerings
Malls, Storefronts and Mixed Use Buildings
Business Sales
End User, Special Use Buildings
Free Standing Buildings
Marketing tools for commercial and business property includes:
- The PA MLS system
- Loopnet.com
- Commercial real estate magazines
- Direct Mail to similar investors and institutions
- Detailed income analysis reports
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Phase 3. Negotiating the Offer to Close
The final phase of property sale begins when an offer from a buyer has been negotiated and settled with a written and executed contract. Although this is technically not marketing, it does require the same sales savvy to win the highest bid and make certain the sales closes.
There are always obstacles that can complicate the closing process. 2 out of 10 sales are aborted on average because of various factors that may be outside the control of the seller and their agent brokers. To combat this, I continue to advertise property on the Multiple Listing Service, long after contracts are executed. Additionally, I have developed a follow up marketing plan system, for the third phase of the sale, which includes:
- Continued advertising for back up offers
- Contract contingencies that expedite the sale
- The use of reputable title and mortgage companies
By knowing the property will be sold to another party if the deal goes though with little chance for buyer recourse, we create control over the buyer that insures timeliness and professionalism on the part of the buyer, their agents and representatives.
Other controls that sellers and their agents can place on a buyer to manage the sale, avoid pitfalls and close on time include:
- Addendums stating 'time is of the essence'
- Requiring a buyer be pre approved, not pre qualified
- Placing a 20 day limit for loan commitments
- Getting a good faith estimate for closing costs
- Asking for a larger deposit or down payment
- Requiring an inspection within 5 days
- Requiring an appraisal within 5 days
- As-Is addendums
- Interviewing the loan officer
While these measures are not fool proof, they do offer security that in the event there are problems with the loan, or the buyer is not satisfied with inspections, the property will not be tied up for very long. Additionally, buyers required to put more money down, prior to closing, have more to lose, and are more inclined to follow through and execute the contract.
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