A new perspective on selling lakefront propertyPosted by Eric Carvajal on Oct 6, 2011 in Lake Austin Real Estate, Lake LBJ Real Estate, Lake Travis Real Estate | 0 comments
When the economic downturn of 2008 swept across the United States, luxury or “second home” real estate markets took the greatest hits. Many vacation home owners were forced to sell to pay off other debts and these luxuries were no longer affordable for many. Many “retirees” were forced to sell their retirement homes as their financial situation significantly changed as they watched their pensions and investment accounts fade. As prices came down, new buyers entered the market and began taking advantage of the historically low interest rates and the ever low cost of owning real estate. This transfer of wealth forced many real estate professionals out of the business as their inability to adapt to the changing environment became their demise.
With this change in market conditions, came opportunity. Success in today’s real estate industry depends on one’s ability to adapt and change in order to properly serve buyers and sellers. “We must cut our coat according to our cloth, and adapt ourselves to the changing circumstances” ~W.R Inge“. This transfer of wealth meant that traditional advertising methods had to change in order to reach the new generation of buyers. Social media and the web changed the marketing landscape forever and the leaders in this space rose to the top. No matter how big your database was, if it did not include the new buyers in the market it had no value.
Today’s real estate buyers search the web via computers, tablets and mobile devices because that is how they search for everything else. Effective placement of listings on the web and in social media platforms is the key to results. Breaking out of the comfort zone and learning new marketing techniques and strategies is the name of the game. If properties are not available via these new marketing channels, they will not get found. Markets like Lake LBJ, clearly dominated by an older generation of real estate professionals, were ever so affected. The window of opportunity opened and our team rushed in to meet the demand of the changing circumstances. Seller’s in today’s market must demand a higher level of service and can no longer call on their “old buddy” to get the job done. To sell real estate in today’s environment one must ensure that they are receiving the quality of real estate marketing they deserve. Seller’s today should expect the following services when hiring a professional to list their home:
1) Professional photography to properly display their home via the web
2) Information packaging that provides potential buyers and their agents the information they need to make a quick and informed decision
3) Knowledge of Lake and the local market to create a marketing strategy built around the strengths of the property and defending against said weaknesses
4) Cross region marketing providing information about your listing to potential buyers in other cities in Texas and around the country
5) Web placement in places like Google, Craigslist, Zillow, Trulia, Redfin so their property can be found in relevant property searches
6) A social media presence that connects the billions of users to their property on platforms such as Facebook, Twitter and Linked In
7) A passion for selling waterfront real estate so they can be on the forefront of real estate marketing trends with a high level of excitement about selling your home
One thing has not changed in real estate and that is that face to face, real relationships still matter. While the above mentioned techniques and strategies are essential they must be coupled with real salesmanship that can see a transaction through its close. Today it is important to align yourself with a real estate professional that has a supporting cast of team members assisting to get your property sold for the highest dollar amount, in the shortest amount of time and with the fewest amount of hassles. This includes, lenders, title representatives, escrow officers, real estate and marketing assistants and more.
“We dont just stick a sign in your yard and post your property in MLS.”
To learn more about how The Carvajal Group is brought a new perspective to Lake LBJ real estate, visit our real estate marketing website at www.MoreThanMLS.com. To speak with someone about listing and marketing your waterfront home, call us at (512) 786-1515