As quoted from Theodore Roosevelt “Every person who invests in well-selected real estate in a growing section of a prosperous community adopts the surest and safest method of becoming independent, for real estate is the basis of wealth.” Nobody can deny the significance of buying good tracts of land and selling it at the best prices.
In this age of stiff competition and rising demand in the real estate sector, realtors who want to be successful should undoubtedly be canny and receptive to new ideas and methods to work things out for their customers. Applying this ideology, realtors who work in Australia and New Zealand, are using a unique method.
Realtors ask their customers i.e. the sellers to include the costs of advertising in their fee amount. Often this amount comes to nearly several thousands of dollars. This idea has several potential benefits for the realtors as well as the sellers. Once realtors take the money for media mix advertising, they provide the best exposure. They are not inhibited due to lack of funds.
Sellers gain advantage because they are guaranteed the best possible advertising in different sorts of mediums like newspapers for example. When realtors pay from their pocket, the extent of advertising is often limited. But here if the seller is willing to go all out, the realtor makes a thorough research and quotes the exact amount for that kind of publicity and gets the job done.
Not all realtors have the spunk or the initiative to embrace such methods. Often realtors are forced to utilize their own commissions in order to pay for the advertising of the seller’s property. This in turn reduces their profit margin. So realtors often keep the most minimal amount reserved for such expenses and therefore the advertising aspect suffers and the prospect of selling and getting a proper price of the place becomes difficult. Only the very best have the potential to work miracles for their sellers.
One might argue that print media has lost its relevance in today’s age of rapidly advancing technology. But it’s not true in most cases. Newspapers still remain one of the most sought after methods of advertising among real estate agents. In fact they often are a source of getting the correct information across through to the prospective buyers in the forms of multi color spreads in center pages.
Realtors should not trick customers though. They need to work in close collaboration with the sellers and guarantee concrete results. After the research and transparent market evaluation if a realtor concludes that an additional fee cannot make much of a difference in the selling price of the land then they should not trick the customers out of the money.
Akira Mori indeed got it right when he said that “In my experience, in the real-estate businesses past success stories are generally not applicable to new situations. We must continually reinvent ourselves, responding to changing times with innovative new business models”. This new idea implemented by the innovative realtors is definitely a step in the right direction.