Great advice in a "buyer's market"...

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Reprinted from the Inman News Blog...

Click your heels and repeat after me: the houses are selling

At a forum of heavy hitting "power brokers" at the National Association of Realtors onvention in New Orleans today, Alex Perriello, president and CEO of Realogy Real Estate Franchise Group, offered some marketing techniques aimed at persuading the public that now is a good time to buy. "The big disconnect is consumers don't know that houses are selling," Perriello said. He tells his franchisees that sold listings should make up 20 percent of their advertising. "If you're running an ad with 10 listings, put two of them with sold banners on there ... if everybody in the market follows suit, (buyers are) going to open up the newspaper ... and say, 'Holy smokes, what's going on? I don't care what the media says, houses are selling.' "

Along the same lines, when a house sells, don't be quick to take the sign down. "The best advertising for any company is your sign with a sold rider on it," Perriello said. "Ask the buyer, can I leave that up for another two weeks ... so that people who come through this neighborhood will know that houses are selling? We'll sell more, and the value of your house might go up."

Also: don't send just one "sold" postcard -- send four. They tend to get discarded as junk mail, Perriello said.

The panel, which also included RE/MAX International chairman Dave Liniger and Real Living CEO Harvey Rouda, also talked about the need to get information on sold listings to the public in a less roundabout way: through the MLS and Realtor.com. More on that later.--Matt Carter, Inman News.

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