Marketing Estate Homes

My new listing in The Meadows ($2,949,000) made the cover of prestigious Distinctive Homes, San Diego edition, and we had four pages in the Orange County edition as well.

This next week I will list a $1,395,000 Hidden Meadows estate as well.

In this market it is necessary to market homes to successful agents as well as the general public – so I have delivered packets of information on my seriously expensive listings to those agents in San Diego County who sell homes in that price range.

That is possible because there are not many such agents. In real estate, as in most business, 20% of the people sell 90% of the real estate. Finding those agents is not difficult, but getting their attention is difficult because they (like most agents) prefer to sell their own listings. Still, and this is particularly true with high-priced homes, all high-priced Realtors run out of their own listings quickly.

Even if they want to do so, Realtors only have a few high-priced homes – so they must expand their inventory to other agent properties. It helps to have another agent hand-deliver their marketing material to their hands.

Personal relations do matter. I sold a $1,700,000 home just a few years ago because the listing agent knew me, and did not know the agent who presented an almost identical offer. The listing agent simply said she knew she would have no problems with me during the sale, so my client got the nod.

While there are not a lot of estate properties available, there are also not many buyers for estate properties either. That lends itself to personal contact. As Escrow Officers and Title Reps determined a long time ago, “Out of sight, out of mind” – so they try to keep constant face time with Realtors.

While estate properties are nice, and lend themselves to personal contact, the lifeblood of agents are medium priced homes. While we cannot afford to meet and greet all of the agents to market those homes – there are simply too many of them – in medium priced homes we must rely on Open Houses, high-quality flyers, enhanced coverage, and all of the more normal methods of marketing.

Medium priced homes are where the market is, and Realtors rely on them to stay in business. We don’t get too many estate listings.

Real Estate Fraud Not Visible in the Meadows

San Diego DA, Bonnie Dumanis, has more than doubled the caseload of her office in the real estate fraud area.

Real estate fraud includes using forged documents, appraisal inflated values, misrepresentation and many other items – and all of which contributed to the current housing problem.

While we did not see any of that in Hidden Meadows (that I know of) it certainly existed in Escondido and San Marcos, and there are lawsuits currently in both communities on fraud matters in real estate.