How can a local Realtor catch the eye of buyers who aren’t even here? Well, consider that it took an invention called RADIO 38 years to reach 50 million users. It took television 13 years to reach 50 million users, it took iPOD just 3 years…but FACEBOOK has added 100 million users in NINE MONTHS…If your property is not being promoted on facebook…well, then, it is hard to imagine how a local Realtor can catch the ey of buyers from out of area, isn’t it!
I have sold real estate in 3 provinces in each of the last 4 decades and for the last 9 years have had the privelege of owning & operating my own RE/MAX Office in the small Okanagan town where I grew up!
I have seen my network of active referral contacts grow steadily for over 20 years via:
Realtors, Mortgage Brokers, Builders, Designers, Developers, Investors, Architects, Surveyors, Appraisers, Lawyers, Home Inspectors, Past Clients, family & friends I have done business with over the years.
And, now, in the last 18 months, everything in Real Estate has changed…again.
This time with the explosive growth of social networks that has absolutely overtaken the Real Estate Market. There are high powered, well connected and top producing Realtors from major centers who now seek out local contacts for their referrals…and I am humbled to be in the center of the perfect storm as this change overtakes the Real Estate industry…stay tuned Summerland.
Can you picture a Realtor today saying “okay, I just need to drive to the drugstore to buy some film, then I’ll be over to take pictures, and the film will be developed within 24 hours and then I can get extra prints and I will have them sent out to someone in Alberta who might be interested in your place”…You would think the Realtor is NUTS! That Realtor is stuck in the 1980’s, right? What kind of results can you expect if this turkey is still using FILM and Canada Post to get your place in front of out of area buyers? How can that Realtor expect positive results using old methods when others are using digital cameras and instant online presentations? And, most importantly…does that guy in Alberta, the buyer who has shown interest…does that consumer even want to talk with a Realtor sending developed pictures in the mail? Of course. Obviously. Everyone knows that…but the problem is just as acute when we discuss social network marketing today. Consumers demand THEIR ways of communicating and are repulsed by some who would offer a service (real estate purchasing) that insists on antiquated methods of communicating…like email, answering machines, faxes and so on.
Days of change…
Here’s helpful info on what out of area buyers are all about…
Early in 2011 I attended a couple of live blogs direct from the Edmonton Housing Forecast event at the Shaw Conference Center. This yearly event is attended by hundreds of Edmonton Realtors (some of who work with people thinking of buying Okanagan Real Estate!).
– Modest but sustainable growth forecast out to 2019
– Modest upward pressure on rates this year
– Housing market: was gloom, is not zoom, won’t boom = HO HUM steady.
-Improvements in employment and in-migration will positively impact sales.
My sense of what I learned by attending these live blogs from the Edmonton Housing Forecast:
This is not a foretelling of Alberta money freely flowing into Okanagan paying silly prices! This is a forecast that DOES say the Okanagan will continue to appeal, but not at silly prices. This is a forecast that says there will be more Alberta buyer interest than the very recent past, but nowhere near the frothy tops of Okanagan market.
My perception of this is to make sure your property is well positioned so that when an out of area buyer is interested, they see VALUE! or they will NOT make an offer. This type of buyer is more than happy to hold their $$ until they see value. And the market will support that for some time to come. There is no pressure on the non-local buyer to part with their money in these market conditions.
Edmonton Real Estate Board Housing forecast:
Just reviewing an email I got direct from Calgary Real Estate top selling team…
When you get a direct email from the top selling Real Estate group in Calgary from 2007, 08, 09, and 2010, you read the email! I always appreciate the updates I get from many of my associates I have networked with over the years.
They reference the exceptionally low inventory plus an improved economic outlook combined with pent up buyer demand as looking very positive for Calgary Real Estate.
Of course, the improved/improving Alberta Market looks good for us here, but sellers here need to really understand that even though sales are much improved in Alberta, and even the Lower mainland, those improved sales #’s are due to seller reducing their price expectations!
I hope the information and answers above are as helpful to you as they have been to many others over the years. Obviously, if you have taken the time to read through, you are serious about selling. I understand it really is a tough one if you know “a friend” in the business, especially in a small town like ours. Many people know more than one friend in the business, so it can be tough. My advice is to remember that this is a SEVERAL THOUSAND DOLLAR service contract. You need to be sure you hire the best possible Agent, not the friendliest, not the one whose Mom sits near your Uncle in church…You owe me nothing. You owe yourself the opportunity to choose who you want. This is probably the most expensive money asset you will ever own, and it is very important you understand your options clearly, professionally.
Always remember you are welcome to check me out on facebook, and I am a text message or phone call away at my direct line cel 250 486 2529, and you could take just a minute to email me with any input, suggestions, or a real estate question.
Check this feature for quick updates anytime:
Helping you find your best real estate answers this year!
Patrick Murphy 250 486 2529
@pmurphy88 on twitter
Realtor, RE/MAX Orchard Country
10124 Main Street Summerland
For info on preparing for showings: