Positioning Is Everything

Thanks for visiting my new blog. Below you'll find the first entry, which is taken from the February edition of a monthly newsletter I publish for my clients. I'm new to the blogosphere and I'm curious to know how folks react to my work. Please feel free to leave any feedback or questions!

The last thirty days have seen a large increase in the volume of residential transactions all around the city. More than ever it seems New Yorkers have real estate on their minds. Have you ever wondered how a friend or coworker was able to purchase their beautiful home without breaking the bank? Perhaps you've known a colleague or friend of a friend who managed to sell their home for much more than one would expect? The art of buying a home and the art of selling one are very different, but the secret to success in both is simple; positioning. In this newsletter I'll demonstrate how positioning a listing correctly will always yield the highest possible price and the best results for a seller. Next time, I'll explain how positioning can give buyers the upper hand and make sure they get the best property at the lowest possible price. For a sneak preview of my buying strategy check out the YouTube video at the bottom of this entry.

Positioning to Sell

• No one can purchase a new property without first making an offer.
• These days, no one makes an offer on a property without visiting in person.
• The more qualified buyers visit a given property, the higher the chances that one or more of them will like the property and make an offer.

Joe Smith is selling his home. He agrees with the three statements above, so he will want every qualified buyer who might be interested to walk through his property right away. Not a few buyers, not some buyers, but every buyer. Where can these buyers be found? With their brokers.

Qualified buyers do their homework. They know that working with a buyer's broker is the smartest way to find their next property and make sure that their transaction goes smoothly. Over 90% of real estate transactions in New York City are completed using a buyer's broker. It follows that a seller who wants every qualified buyer to visit their property needs to alert every broker in the city about their listing. Joe knows that the most active brokerages use broker-only communication systems to search for property, not the New York Times or Craigslist. Joe lists his property with a capable listing broker who helps him stage the space, photograph it using the best equipment and techniques, and market the listing to every broker in the city.

Busy buyers don't have the luxury of seeing every property on the market in person, so they work with their brokers to compile a "must-see" list of those properties that look most promising and those that seem to offer the most value. All other listings are placed in the "maybe" pile and may or may not get a visit. How can Joe make sure his property winds up on the "must-see" list every time? By pricing his property lower than his competition. Only by exciting potential visitors with value can Joe hope to generate a bidding war, the holy grail for real estate sellers.

If Joe follows the advice above his open houses will be full of visitors clamoring to get a peek at his property. Some of them may not be qualified. Others may not be interested or motivated enough to make an offer. Others will fall in love with the space, the location, the amenities, the view, or a some combination of the above. Should two or more of these visitors make an offer, the owner's agent can place them in competition with each other, increasing each offer until the highest possible offer is achieved. If Joe is happy he goes into contract and moves on to the next stage in his life. If the highest offer isn't to Joe's liking (even if its higher than the asking price), he is not obligated to accept it. Joe can have his agent continue to market the property, or take it off the market, having seen first-hand what the current market is willing to offer. Joe's positioning has no downside risk, only upside potential.

Interested in learning more about how to position can help you get maximum results in the real estate market? Give me a call or shoot me an email. I reply to messages twice a day. Want to stay in the loop? Follow me on Twitter! As always, if you or anyone you know is interested in buying selling or leasing a home in NYC please feel free to give them my name.

All The Best,

Roberto Gonzalez Bond New York Most Valuable Player 2007 - 2009 Silver Sales Excellence Award
25 Hudson Street New York, NY 10013 (347) 866-1368 eFax (646) 896-2799 http://www.thenycrealtyguide.com/
----------------------------------------------------------------------- All information furnished regarding the above property is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to error, omissions, changes, prior sale, lease or financing or withdrawal without notice.