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I haven’t reviewed all the posts in this forum, but has anyone experimented with optimal times for advertising a property for a HBS? I am doing the following: directional signs, large sign in yard of house for sale, flyers to neighborhood and area stores/restaurants/etc., online (craigslist/Zillow) and press release. The open house is May 5-6 so I’m in the window for marketing I believe. Here is what I’ve done/plan to do with the information I have.
Large sign in yard of house for sale: placed up 14 days before auction: April 22
Directional Bandit signs in city: place up night before open house: May 4
Online advertising: Start the Saturday before the weekend of the open house: April 28
Flyers: Not sure on this. When is the optimal time? Monday before the open house was my plan: April 30
Press Release: No idea. Never done one and somewhat intimated by it–need to do research on forums and in education material on CFD. Plan: May 2 or 3?
Appreciate any help on the best times for these advertising plans. Thanks!
– bandit signs — 1 Week before sale. Make sure they are up all week Put
Starting at $
Call _google number_
!!!Make sure your google number goes to a recording that tells them all about the house.!!!
-Directional signs – day before On Thursday
-online marketing — Start NOW. Put adds on face book and boost to area around the property. Also make a video of the house. post it on youtub and face book. advertise as well
-Flier the surrounding area two week before and the Thursday before. First on “IT IS COMING” then the second ” THIS WEEKEND”.
This should help.
Get on Zillow now too.
If there are any local classified websites, be sure to advertise there too
Signs at home depot, lowes and walmart usually stay up for a long time and attract buyers too.
full court press for the week or two before a Highest Bidder Sale
WOW! Thanks Jackie and TK! Guess I have a lot to do tonight.
The house is getting a new roof put on in the next 30 days, but I am not sure it will be done by the time of the sale. Is this worth pushing it back two weeks when it may be more likely to be done? Or do I just show the shingles being put on and tell them the work is scheduled for May 13 or whatever? Pushing back the sale two weeks would also help me implement all the dates you’ve suggested above since I am T minus 9 days away and feeling crunched. Thoughts?
Yes. wait till the roof is done and all work is completed. also you should have an inspection report done to show the good and bad. this will cover your butt in the long run. REMEMBER This is all about HIPE! you want to get as many people there as you can. the longer you can advertise the more people will know. The best ones are always the ones that you took your time. Make sure it is done right. Later when you get better and more under your belt you can do them faster.
Tk is absolutely right – WAIT to do the 2-day open house until the roof is done & get the inspection done after the new roof. You will sell the house for a LOT more with a new roof. It is worth the wait.
But do not wait to start advertising – starting with a huge sign in the front yard – with a coming soon message..
make sure you capture the number of all the people who call so you can call them back later to remind then about the open house when you do it.
Thanks Jackie and TK,
I’ve been working on all of this and pushed back the sale. Of course, it may slip another two weeks due to the roof so now I’m looking at the weekend of June 2 but that’s okay. I’m getting my marketing all sorted out so the next one is easier. Doesn’t make sense to rush-thanks for the clarity.
One thing I wasn’t sure on, was the press release. When should I get that released? This weekend I’ll be looking at fiverr to find good candidates to do the work. I think it’s good to have it ready to go, then hit “send” when I want to actually release it so it hopefully gets picked up. Optimal time for that? Guessing it’s 4-5 day’s before the Sunday night auction?
So this got dragged out due to the roof replacement, scheduling issues and inspection, but in two weeks I will do the open house on July 14&15. Here is my plan for marketing between now and then:
-“Auction” Bandit signs up today (6-30) around Lowes, Home Depot, Walmart, etc.
-Online marketing consisting of Zillow, Craigslist, Next Door App (neighborhood has no Facebook group), YouTube (video walkthrough-anyone have any cheap video editing software they can recomment so I can add some music to the background?)
-Large yard signs up at house tomorrow (7-1)
-350 Flyers “Coming Soon!” being put out today (6-30)
-350 Flyers “It’s Here!” being put out on the Thursday before the Open House (7-14/15)
-Directional Signs put out the Friday before the Open House (7-14/15)
-Press Release 10 days before the Open House (7-14/15). Still need to find someone on Fiverr to do the PR
Am I missing anything here? Suggestions? It’s getting late in the game I know, but I’ll adapt as I can.
Do people still look in the for rent and for sale in the Rockford News Paper. Some areas it still works
The paper has poor circulation. I am hoping the press release helps in a similar fashion.
Also, I’m getting calls to the google voice number and even a few messages. I assume I don’t need to respond as everything that is needed for the potential buyer is in the voicemail and calling them back only burns up time?
This is quite the learning event. I’ve amped my marketing fivefold. Here is a press release I did (first one). Hopefully I didn’t foul it up, but let me know any lessons learned.
Also, really basic question, but I’m getting a ton of calls and emails (the calls go to voicemail where they hear a 45 second description of the property). Am I supposed to be returning these calls and emails? I wasn’t sure as the marketing is self explanatory and the open house is clearly described as 11-3 this weekend. Thoughts? Not trying to be lazy even though I’m buried right now, but if there is no benefit or even a negative consequence to returning contact (reduces the mystery and interest maybe?) then I won’t.
If you go back to TKs message he said not to return calls if all the information is in the recorded message.
Sorry i was away with kids. Send out a Sly Broadcast to all # that called Thursday before the sale. Remind them of the HBS. But everything looks good.
There is my # if you have any questions 832-689-1697. I love HBS and hope you see them as a great tool yourself.
Thanks TK and Don! I need to listen to the podcast again–it was a last minute panic question.
TK I’ll likely give you a call today later.
Directional signs up tonight even thought its going to rain tonight and tomorrow all day. Ugh. I can’t control the weather!
Day 1 report
13 Groups passed through. Two passed through twice. One bid only which was the starting bid. After a call to TK and Patti it seems that my starting bid was about 15% too low, but I don’t know why that would not get people to bid.
I’m not sure what I am doing wrong, but for whatever reason I can’t get people to put bids down. I’ve explained that to “get to the next round” they need to put a bid down on the sheet. They can always drop out afterwards. Maybe I’m just terrible at being a salesman? Open to advice here.
What are the numbers on the deal. What is the ARV? What are repairs? What price are you marketing it at?
I’m doing it for a friend. Comps are $185-190k. No repairs needed-its a 10 year old house with a brand new roof. The inspector found a torn screen door from the dog which they removed and that the sump pit had no pump. It’s the highest house in the neighborhood and the neighborhood is on a hill, so it’s clean as a whistle.
I started it at 79k which after talking to Patti and TK was too low (Lesson learned #1). I also had bid increments of $500 which should have been $1k or $2k (Lesson learned #2).
Second day autopsy:
Had 16 more new groups come through and several second timers as well. The bids went up significantly and wound up at $150k. I held the round robin 3 hours later (which is probably too late and needs to be 1-2 hours after the open house, or even RIGHT after the open house (Lesson learned #3). The bids went up to $160k before it grew cold. I pushed the top bidder to $165.5 but he wouldn’t go past that. Another $10k and the owner would have been happy. My understanding is that a great house in a great neighborhood could get real close to retail. I guess I was wrong (Lesson learned #4).
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