The Frustrations In Hiring A Listing Broker
And How To Avoid Them
It has been interesting to watch ultra luxury high end Lake Oswego homes come and go on and off the market as they expire or get canceled. OK – frustrating, not interesting, in reality, if I am being honest. The assumption is that these ultra high net worth individuals still want to sell their magnificent Lake Oswego luxury properties, but it is like watching a scene on repeat. Same tired old dinosaur methods over and over again. The cost of these low impact tactics is detrimental to the seller’s bottom line and surprisingly beneficial to the broker representing the property. Selling a high end property does take more time and financial investment than a typical property, but this time should be better spent.
- Hiring a TOP Broker. The fact is that a typical top broker simply has too much business to properly service it – no matter how big their team is. It can be tempting to see all the signs around town and think that this is THE broker to call when listing your property. The truth is that hiring a Broker who limits their inventory load is the smarter choice. Do you think that your property will get more attention from a Realtor who carries no more than six properties at a time or from a Broker juggling 20 to 40 at a time? Do you know that when a Buyer’s Broker calls these TOP brokers and/or their team that it can be extremely difficult for them to accommodate a showing to a ready, willing, and able buyer? True story. It can and has at time taken days. You need to hire a broker who can drop everything to represent YOU and show your property to qualified buyers. Hire a Broker that chooses to represent a limited amount of properties and represent them well. Having a lot of signs in the ground is only good for the broker. Not the seller.
- Hiring a Larger Branded Company vs. Boutique Specialized Company. The promise from a bigger brand is typically further marketing reach for your property and more networking and financial resources, but there are two crucial reasons why a smaller more specialized company or brand is a better choice for your luxury property. (1) We ALL have the same network now – both big and small brands. Big Brokerages know this. Buyers used to look to these bigger brokerages for listings because they controlled the inventory and sellers looked to them because their reach was further. Since 2006, the internet has increasingly and now completely annihilated this outdated system. Through the MLS, all brokers have access to the same properties. Buyers do not care what brand you are listed under and they will absolutely find your home online regardless of who you list it with. Sellers now see greater reach than a larger brokerage could ever offer them because the internet has made their listing truly global. Finally. (2) Agility and Cost concerns. Steering the Titanic is more difficult and costly. The fact is that no matter how far reached your resources are as a larger company or bigger brand, the bigger you get the more difficult it is to be agile and flexible with the market. Larger brands and companies have more overhead, bureaucracy, and they also usually have to abide by the company line no matter what the situation is. Flexibility is crucial because every seller and every property is absolutely and completely different. You must possess the ability to operate on a higher level within these moving parts and differences.
- Choosing A Higher Emphasis on Print Advertising vs. Web Presence. This seems fairly obvious, but if you dive into it deeper there are even more reasons to really take a hard look at where you focus the majority of your efforts. Ask your broker what the best local method of exposure is. Many sellers have a strong idea of what they want for their home and your broker should pay attention to those, but also ask your broker what works best in your neighborhood and for your type of property. Different markets have various methods that work better than others. In general, having the best web presence is the best way to highlight your property and get the most exposure. Web presence is more about the company website that ranks high for a very general search term or phrase. When a buyer gets serious, they begin to search in Google for more specialized and longer search strings like “Lake Oswego waterfront homes” and “Lake Oswego luxury homes” rather than just general terms like “Lake Oswego” or “Lake Oswego Real Estate”. This is where we excel. Since 2006, we have been optimizing our pages and sites and building links so that we are unbeatable at coming up in the first three choices in Google for the highly targeted searches we choose. Go ahead and try it: Lake Oswego Waterfront Homes Search on Google. Listing agents like to purchase ads to try to game Google, but buyers typically ignore the ads in Google and skip right to the top one or two organic search results. Usually they just click on the first choice. We happen to consistently rank as that top choice for many searches. Once a qualified and targeted buyer has made this search, your home would be featured at the top of the top page for this search. A word on print advertising: In Lake Oswego, print advertising is also very important (after internet exposure only) for a number of various demographics. Luxury Home Magazine is a key requirement in advertising your high end LO home. It is also on the top of our marketing list. Please look for us in your current issue of Luxury Home Magazine and also look for us on the cover of the upcoming magazine representing the incredible Pfeifer Farm House built in 1852. We have the resources to launch your home to the next level.
Time is money and we want to sell your house – not just represent it. Our focus is on you, the client and so we do things differently as a result. You will still see the same standards that other brokers hopefully offer – postcards, flyers, hosted exclusive open events is desired, but also a fresh approach that you may not have considered. We take photography and virtual tours to a whole new level and you will be impressed with our tech savvy reach as we have embraced the internet for almost a decade in our marketing. We look forward working hard for YOU and showing you what we can do for YOU.
Please let us know what your Lake Oswego real estate needs are. We would love to discuss a launch or relaunch your property with our marketing. We are Lake Oswego Realtors and Lake Oswego Residents.
Brian Olsen 503-853-5506 Brian@CooperJacobsPDX.com
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