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Archive for the ‘Marketing’ Category
Tags: 323 East Gallery, commercial real estate detroit, detroit lofts, downtown detroit, Farbman Group, Street Culture Match, urban living, urban living detroit
Everyone knows that real estate, residential or commercial, is about sales. It’s a game of finding the right fit for both the buyer and seller. It’s about using psychology to get inside their heads, identify their respective needs and close a deal.
Following a few simple tips will can make brokers more credible overall, while simultaneously assisting them in successfully market their listings online.
- Do perform a quick clean up of the interior spaces you plan on shooting before you take photos for web posting. As the saying goes, you never get a second chance to make a first impression. Many prospective buyers do their research online before calling their broker. Even for an individual with a tremendous sense of vision, it might be challenging to lookpast a room littered with pop bottles and empty paint cans or seemingly endless clutter in the form of stacks of VHS tapes and piles of clothing. Go ahead-set the scene as best you can for the buyer.
- Do complete, and in a clear and articulate fashion, all the information requested by an online listing site in its information section about the property. The more information a property hunter has in advance of his or her call to the broker, the less time the broker will have to spend showing properties that don’t fit the bill. A little time invested entering this information could result in a whole lot of time saved later in the transaction.
- Do clearly list the dates of any open houses or property tours on the listing, and remember to remove the dates after the showing. Listing dates makes it easy for a prospective buyer to pop in an take a look at the property without feeling committed-and can often result in a new broker-client relationship being formed. Failure to remove dates afterward, however, makes brokers look neglectful.
- Don’t mark a property as a “new” listing if it’s not. People can shop for a new home or property for months, even years. They catch on quickly if a listing is marked as new in an attempt to have it stand out from other listings after it’s been on the market for a while. If I can’t trust you to tell me if a listing is new, do I really want to trust you to walk me through my six or seven-figure transaction?
- Avoid using kitschy graphics on the listing photos themselves. Adding “Home Sweet Home” across a pic may at first seem like a great idea to help a prospective owner picture themselves calling it just that, but most prospective buyers click away with a bad taste. The images look like a toddler marred them up and detract from the product meant to be highlighted.
Tags: Books, bookstore, Borders, Liquidation
They say hindsight is 20/20, but Borders management must have been wearing thick blindfolds in a dark room as they continued to push the company forward during a time when revenues were in steep decline. The company expected only an impossibly sudden and dreamy shift in shopping behavior to save them.
The company’s business model was one destined for failure from the start. The chain of nearly 400 stores averaged more than 25,000 square feet-with some as large as grocery stores and a massive quantity of inventory they were required to house. A cost per square foot was not immediately available, but the format does not allow for an intense profit margin. The company was essentially storing large quantities of books for publishers for free.
For stores that size, what should have been seen as destination shopping experiences tried to be the neighborhood bookstore instead. With stores in many regions so closely packed together, the community populations simply were not able to support a facility of that size.
A Michigan retail analyst supported the company by saying they had been unjustly criticized for not changing with the times. His thought was that they were a bookstore. . .”what’s to change?” The fact of the matter is that the industry is changing. Stores needed to lower there overhead to stay in business and explore online distribution or risk becoming obsolete. Apparently, Borders was so married to the ideas of the company’s store formats and business practices, it chose obsolescence in the end.
Wonders never cease.