March 18, 2019
Creativity and good old fashioned marketing the key to many transactions
The days of just popping an ad online and expecting an avalanche of enquiry and a bidding war to ensue are a thing of the past, however sales are occurring; people are selling, people are buying. But in a time in the market where only one buyer per property is a new normal for many (although certainly not all) transactions, smart vendors are selecting agents based not just on fees and relationships but strategy; the ability to put a deal together, to source a buyer who wasn’t actually a buyer to begin with.
Print media readership has certainly declined but in these times we are reminded all too often that buyers responding to our print advertisements – whist smaller in audience numbers, it can be very powerful in attracting the passive buyer and usually more emotional, less “educated” in the ways of the market. It is so often the buyer who has done all the due diligence in the world (and then some) who gets overrun by another who is new to the market and throws caution to the wind. The better performing agents are putting their vendors’ best interests up in lights, in print.
Transactional creativity includes exploring long settlements, vendor terms, commercial arrangements that are “the path less trodden”. Deals happen late at night, overnight, before the coffee shops are open in the early morning. Is this a new age? Not really but going the extra mile, as clichéd as it sounds, is critical in this market.
So choose your agent not just because you know them and like them; indulge them in their war stories and ask how some of their more creative deals are brokered. Use that, not the fees as your barometer.