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The Best Of Investing Radio Show From January 11th CEO of ListedBy.com Stephan Piscano

Best of Investing Radio Show January 11, 2014 guest Stephan Piscano

Stephan Piscano reviews the benefits of the site and a lot of exciting updates on the real estate industry

 

 

Making Your Real Estate Auction A Success

Create Awareness and Excitement Around Your Auction

The real estate auction market is gaining momentum and has grown beyond estate disposition, REO and distressed real estate liquidation. Real estate agents are investing time to learn about  auctions and how to integrate them into their marketing strategy. They are actively engaging with prominent auction sites including new, free model environments such as ListedBy.com, and revenue share based marketplaces with a track record delivering results.

It is not unusual for a property today to fetch 10, 15 or even more than 20 percent above the minimum acceptable listing price at auction, when marketed properly. The auction process is inherently conducive to bidding competition amongst willing parties. But unlike a traditional sale where the best offer wins, leaving lower bidders out of a deal, an online, fully transparent process such as on ListedBy.com enables buyers to stay in the game for as long as they choose, up until the scheduled auction close date and time.

But what makes or breaks an auction is the effort the REALTOR puts towards marketing the property and creating excitement around the deal. If you expect to list a property for auction, sit back and wait to see what happens, buyer dollars will likely elude you in favour of well marketed deals.

First, decide on a date (or a few days) for your auction, including an open and close date and time. Then, build a powerful exposure campaign to market the event. Give yourself enough time to create attractive, compelling marketing materials and to send out direct mail, if this is part of your plan. Ideally, film a powerful video that brings the property to life, and circulate it through your newsletter if you have one. Post the video on popular social media sites like YouTube, LinkedIn, Facebook and Vimeo. Use tools like OneLoad to syndicate your video for free to these and other video sites, and tap branded video email and video newsletter marketing systems like Talk Fusion to easily and inexpensively integrate videos and photos into your campaign.

As well, schedule an agent open and public open house in the days ahead of the auction start, and set up auction signage including details or handouts, in front of the property.

Think of it as a traditional sale with a build up that leads to a bidding competition that can involve buyers not just from your area but from across the nation and other countries.

Always promote the dates of the auction in all your marketing, online and offline. Consistently incorporate the hyperlinks to the website and page where the asset is displayed and the auction will take place. Remember to include at least 16 good quality photos with the listing, as well as a video of the property and the area around it. The effort should pay off in spades.

If your auction website offers options to enhance or more prominently feature the listing (different sites offer different ways to enhance listing exposure), do take them up on it if the price is reasonable, as almost always that means more eyeballs. A featured listing also gives a potential buyer that added sense of interest and confidence in the asset, because of the added value perception it projects.

Initiate a drip marketing campaign in the days ahead of the auction start date and maintain it throughout the auction days, to keep interest high and support a good level of excitement around the deal. Needless to say, the usual phone calls and other marketing tactics you would employ in a traditional sale still apply. Tell people about all the benefits of buying at auction both in person and in your marketing, throughout the campaign.

Last but not least, do incorporate instructions on how to bid on the property, along with the rules of the website. A solid environment would have that information readily available for you to link to.

Here is an easy read on online real estate auctions, the Auction Guide For Consumers, published by ListedBy.

Once you get one or more auctions under your belt, your confidence will increase dramatically. In addition to yielding more money for you and your seller, the knowledge and your unique strategy should give you a new edge during listing presentations as well.

The Busy, The Broke and The Early Bird That Gets The Worm

Trailblazers Always Look To Improve How Business Is Done

Those of us who are in the technology sector go through a constant cycle where we see a few grab on to a new opportunity and run with it, a larger bunch pass on the same opportunity because they are either too busy or, in a slow market, don’t want to spend the money, and yet another bunch, simply not bother because they know better or don’t want to get into yet another technology ‘thing’.

Ultimately, the group that is always open to learning about new things and always hungry to explore better ways to do business is the set that is often referred to as pioneers. Let’s call them Group 1. These are the trailblazers who everyone looks up to, later follows and constantly tries to emulate.

They are the early birds that get the worm, while Groups 2 and 3 snooze and lag behind.

The pattern is consistent and goes back to eternity, in advanced technology years. We need not go back too far. When cell phones came out, there was quite the resistance, for many reasons. The pioneers got on with it however, reaped the productivity benefits and set themselves apart. The rest then followed. That was one technology that the ultimate laggards, Group 3, simply had to cave in to at some point, or vanish.

The personal business website is another that many in the real estate market also resisted and still do until now. There are many REALTORS who to this day still work off of a web page given to them by their Association. And we’re already in 2013, going to 2014. Again, the pioneers were those who launched their own websites early on, and took advantage of the lead they had on their competitors. They learned early on about what worked and what didn’t, learned and applied more advanced search engine positioning tactics and in turn once again grabbed the worm at the expense of groups 2 and 3.

Social media came next and we all know that most agents are still trying to figure that one out. The early troopers already have it integrated into their systems and continue to look for new ways to leverage the trend.

Today whenever we discuss ‘out there’ technologies like online auctions and tele-presence video conferencing and video email, we still hear the same arguments from groups 2 and 3. They are either far too busy to look into something new because the market is too hot and they are turning away business (I literally got that one yesterday from one Realtor), or if we caught them not too long ago when the market was still very tough, their excuse was that business was too slow and they were not about to invest any money until the market turned.

If that is not a catch 22, I’m not sure what is.

So, too busy when the market is hot, and when the market is slow, too broke to invest in new technologies. And one wonders why Group 1 almost always leads.

Two trends that pioneer real estate agents (if you are reading this article, you obviously already are, or you are working to be in that category) are starting to embrace today are online real estate auctions for all types of properties including REOs and traditional listings, and video communication and marketing technologies. Have you watched the Million Dollar Listing NY TV show lately?

Next time you list a client property, early bird strategy suggests you auction it so you can maximize the sale price for the seller, increase your income and manage offers virtually without having to lift a finger. Among other great options, I’d give ListedBy.com a shot. It’s entirely, 100 percent free.

And when it comes to marketing the auction, or a traditional sale, do look into video marketing to support your push, even though your strategies still work. Video is the way to go going forward according to statistics from numerous leading organizations and research firms, and learning and applying video to your marketing sets you on the next pioneer path that others will undoubtedly follow. Here is one fully integrated video marketing and communication system that every Realtor owes it to themselves to take a very close look at. These tools are so powerful, simple and inexpensive. I use the platform and it is unlike anything else we’ve seen out there, by miles.

ListedBy How-To Videos Now Online

ListedBy How To Video Series

A nice and short set of videos is now available to take you through all key areas and tasks on ListedBy. If you have any questions that the videos do not address, please drop us a note here.

Watch The Videos

Public Real Estate Auctions Site ListedBy Launches Service Providers Directory

ListedBy’s Service Providers Module Enables National Search For Real Estate Related Services

An exciting development for all ListedBy users and site visitors today, as well as for service providers who offer services to the real estate industry in the U.S.

We just launched the Service Providers section of the site, which allows ListedBy users to research and find services related to real estate from across the country. If anything, the Service Providers module roll out is another example of our commitment to making ListedBy.com the place for everything real estate.

Whether it’s painters, movers, insurance providers or any other service, and whether you know the area or if you are from out of town or out of state, this is a key peg in helping you to find and get information about the services that you need, at a local level, as you make either an investment decision or need a service for your own property.

As a service provider, the exposure is entirely free. Just drop by the Service Providers page and add your company to gain exposure. We’ve also added enhanced placement options, which gets your company to the top of the search results in the states of your choice.

Here is the full announcement released earlier today on the wire:

Public Real Estate Auctions Site ListedBy Launches Service Providers Directory

Self-Managed Search Database Gives ListedBy Users Access to Information on Local Real Estate Related Services, and for Service Providers, Free Exposure and Leads

NAPA, Calif. – January 28, 2012 – ListedBy (www.ListedBy.com), the first free online real estate marketplace and social network with live bidding public real estate auctions and ‘Best Offer’ functionality today announced the launch of its Service Providers module, a self-managed, self-populated directory designed to give ListedBy users convenient access to information on local real estate related services across the United States.

“As a platform that truly stands out among other real estate sites and real estate auction companies, part of our mission at ListedBy is to constantly elevate user experience and value,” said Stephan Piscano, CEO and Founder, ListedBy. “Whether it’s homeowners, buyers and sellers, or investors involved in REO auctions, government auctions and regular assets, identifying and connecting with local service providers is an on-going requirement. ListedBy is now positioned to deliver on this need like no other site online.”

Free to join, the ListedBy Service Providers tool is organically populated and currently covers all U.S. states and territories. International search is planned for release later this year.

Service providers can join the new directory at https://www.listedby.com/ServiceProviders/ServiceProviderMaster. Additional categories can be requested through the company’s online Forum.

Enhanced placement in the directory is available as an option in one of two packages offered at $50.00 per month per state, or for $248.00 dollars per state for a full year subscription.

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Online Real Estate Auctions – ListedBy KNOWLEDGE CENTRE – How Chicago’s REALTOR® Cassandra Barber Achieves Consistent Success

Cassandra Barber
GRI, SFR
www.realestateauctions.com
Chicago, IL
51-200 employees

Online real estate auctions marketplace ListedBy recently caught up with Cassandra Barber, GRI, SFR to find out the main secret behind her success. Here is our interview:

LB: Thank you very much for your time. We know that many ListedBy. com members and others will benefit greatly from your experience. If you were to share your number one secret to success, what would that be?

R: There is not a secret to my success – just a lot of hard work.

LB: What is/are the main challenge(s) that you face in pushing through with this advice in your own business? How do you overcome them?

R: Staying focused and not allowing distractions to keep me from my goals. Real Estate is an industry that if you allow the “noise” of the next best practice to distract you, you will forever be re-inventing yourself.

When you visualize where you want to be in your business, answer the questions what is it going to take to accomplish that, and stay focused on those answers you will realize your goals.

LB: What is the main downside for not applying this principle?

R: The biggest downside is not reaching your full potential by not accomplishing the goals that you set for your business.

LB: How can listing or buying property using free online real estate auctions or ‘Best Offer’ technology on ListedBy or other platforms impact
your business?

R: I realized auctions provide another tool that REALTORS can offer their clients and of course every circumstance will be different. The market dictates that we must think outside the box and auctions provide an avenue for quick and productive results.

LB: Anything else you would like to share?

R: Auctions may not be for everyone or every home, but agents should consider auctions as a valuable option and tool. The National Assoc. of REALTORS convention this year featured a session on auctions and for me that speaks volume to the value that auctions will have in our market place now and in the future.

LB: Once again, thank you very much for your contribution.

 

About REA: RealEstateAuctions.com (REA) is a leader in U.S. real estate auction sales. Our team of auction specialists has closed more than 8,000 sales of all types all over the country with a huge list of client partners, including HUD, FDIC, Fannie Mae, Freddie Mac, pension funds and a myriad of other corporations, institutions, developers and private owners located
throughout the U.S.

Traditional Auctions Versus New Online Real Estate Auctions

One of our participants on the ListedBy.com LinkedIn Group today asked us whether NAR projections for real estate auctions reaching 1 out of every 5 properties sold by 2014-15 covers specific geographies or are regionalized. As well, whether the majority of the auctions would be online or onsite.

Here is our response, to help our readers here to have convenient access to it.

We suspect that the majority include online + on location, because that’s the traditional model used by auction organizations thus far. The numbers cover the entire US. New models like ListedBy.com are turning the traditional model upside down by doing three key things:

1- 100% free. No fees for buyers nor sellers. Means more participation and more money to go towards the property instead of paying 2-8% buyer premiums.

2- 100% transparency. Everyone gets to see who is bidding and how much. Gives everyone equal chance and optimizes property market value.

3- All 100% online. Simpler, quicker, cheaper and more efficient for everyone involved.

Here is a link to a recent article we published on ListedBy.com that goes into a bit more detail.

http://www.listedby.com/forum/topic87-online-real-estate-auctions–when-to-dive-or-skip.aspx

Did You Know….

….that one out of every five real estate transactions will be through auction by 2014-15?

Did You Know …..

….that 58 billion dollars of real estate assets in the U.S. sold at auction in 2011?

Leaders and Laggards – How Industry Pioneers are Using Online Real Estate Auctions to Distance Themselves

Highly successful real estate professionals will tell you that one of their secrets is constantly seeking better, faster and cheaper ways to do things.

When the Internet came about, the pioneers got onto email before everyone else. Eventually, the same group went online with their Web pages. From there, they were first to start their own websites and adopt other technologies way before the laggards got on board. If ever. Listing syndication came about. Thousands sat back, debated things or fought hard to maintain the status quo (many still do to this day). Meanwhile the winners began to distribute their listings widely on the Internet and reaped the benefits of exponential brand exposure and lead generation.

You get the point. Paperless transaction tools, telecommuting, social media and the virtual office brokerage faced the same skepticism from the majority or, shall we say, the followers, while the leaders took the bull by the horns and blazed through. This is how winners win. Believe or not, some agents still do not have their own website and many have to be educated on why they should look at their email more frequently!

On to the next big thing. Online real estate auction.

First let’s get one thing cleared. Auction does not mean having to price a property at a dollar and hoping it sells for half a million. There are a number of online real estate auction strategies that we’ll go over in future articles. But for the purpose of this piece, think of online auction as a process that allows you to market a listing starting at a minimum acceptable price, and marketing it so it is bid up to its optimal market value. If you have been in this profession long enough, you would have either used this pricing strategy or heard of others using it, but in the traditional fashion. Price a property attractively, draw in buyers, then create a bidding war. It works.

Fast forward to the future. New online real estate auction platforms allow you to replicate the excitement and benefits of this strategy but far more easily. It also helps you to reach buyers from around the country and the world. Without costing you a cent. Review, accept, reject and counter offers with a click of the mouse. Things don’t get any easier.

Another great benefit of tapping real estate online auctions is that auction as a selling method inherently narrows the pool to buyers who are finance-ready. To bid on a property in auction, buyers or their buyers’ agents typically must be ready to move forward, if theirs is the winning bid. This alone can significantly accelerate the sales process, and takes care of the financing subject headache in advance.

Try listing a property on ListedBy.com. The membership and traffic on the site continue to reach new proportions each month, as more professionals discover the platform. Unlike other real estate auction sites, ListedBy is completely free of charge and does not charge a buyer’s premium or a buyer’s fee. ‘The old’ auction model is being re-invented, with both buyers and sellers coming together to negotiate and close deals in a completely free, transparent and highly advanced environment.

While this may create a headache for the traditional real estate auction industry, for industry pioneers, and those who have come to expect hefty fees to buy or sell at auction, it’s a breath of a fresh air.