Property Grunt

Wednesday, April 16, 2008

WHAT THE HELL?






The absolutely wrong message to send to potential buyers and sellers.


One of the marketing tools of real estate brokers in Manhattan are mailings. They can range from a postcard announcing an exclusive listing in a building or a sold property. These mailings are usually professionally done by marketing departments so usually they are very slick. Now and then you get some, how should I say this, unusual ones. They often come from the outer boroughs. But I have come across a set of ads that stick out but not for the right reason.

I do not know this broker nor have I met her. And I have nothing against her and I have no desire to start a broker blood feud with her. Out of professional courtesy I have made the effort to cover up the identity of the broker and the location of these listings. I figure why make her life harder than it is? This not about being harsh for the sake of entertainment but to educate.

These listings were sent in a thick heavy stack reminiscent of a coupons in the mail. It gives the feeling that these are not mailings for homes but instead a stack of coupons for Papa John's.

As you have all seen, the first sentence that the recipient sees is

"Is it time for you to cash out?"

Two years ago this would have made people pause to think. Now all it will do is piss people off . Wall Street is getting hammered and there is strong evidence that the dead cat bounce is dead and that the Manhattan real estate market is in for some major chop. Chop in prices that is. When you use the words "cash out" it implies "big bucks", "major moolah" and "jackpot". That term is not in vogue now. This sentence also implies
"If you haven't lost your job yet, you will soon. Get out while you can."


YIKES!





The paper choice is absolutely atrocious. First of all the colors scream "I am too cheap to get post cards or get the proper paper for mailings, therefore I have raided my daughter's high school year book club's supplies."


The word "Sale" is utilized prominently on each mailing. This is Manhattan real estate we are dealing with not an outlet store. Sale in New York real estate implies desperation. Sellers do not appreciate that type of impression created on their behalf.

The content of the mailings is absolutely atrocious. There are no pictures of the apartment itself and there is no proper description of the apartments themselves. Just some sparse words and a floor plan.

Square footage is detailed on the mailing. THIS IS A BIG F**KING NO NO! Brokers should never list square footage on a mailing because if the apartment does not appraise and the buyer needs to shell out more money then the broker is looking at major legal trouble.

This last mailing is the biggest sin committed by this broker.



This broker just closed a deal and especially in this market this is a cause for celebration. What this broker should have done was simply write a short yet proud letter about selling the apartment and how they could do the same for prospective sellers. This accomplishment should be presented like a fine wine. Instead it feels like this broker is presenting a can of PBR.





I am quite surprised about all of this considering that this particular broker is aligned with the Dali Lama of the real estate broker world. This broker is also no joke herself. From looking seeing the vast amount of listings on her website she is the high priestess of the broker world.

My suspicion is that her company requires her to put up the capital outlays for marketing so she decided to take the quick and dirty route. But if you are selling Manhattan real estate, you can't afford to play it cheap.

Honestly, there are brokers in Queens who have better mailings. This broker should really rethink her game plan with her marketing. Also the company should make more of an effort for quality control because this also makes them look bad.

7 Comments:

  • "Brokers should never list square footage on a mailing because if the apartment does not appraise and the buyer needs to shell out more money then the broker is looking at major legal trouble."

    Why? I don't understand this statement.

    By Anonymous Anonymous, at 5:58 PM  

  • Sachiko Goodman is an anomaly in the industry. She has been doing this crap for so long and experiencing great success. Her mailings piss me off too but probably because I would never send out such crap but I also don't do a fraction of the business that she does. I see so many people in our industry that succeed in spite of themselves! It baffles the hell out of me!

    By Anonymous Anonymous, at 8:43 AM  

  • This post has been removed by the author.

    By Blogger Grunt, at 1:41 PM  

  • i vote for "broker blood feud"

    sounds interesting, my euro's are on the Grunt

    LOL

    -Josh from cityhammer

    By Anonymous Josh, at 6:17 PM  

  • #1 - Grunt was saying that unless confirmed by managing agent or offering plan (for condos), brokers should not quote square footage that is not confirmed. It could lead to problems later on, unless clearly market 'APROX' with a disclaimer.

    #2 - there are a TON of brokers out there with insane connections, deep referral contacts, international presence, connection with networking agencies, and on and on and on whose business is always strong & steady. Its quite smart and one reason why these people get into real estate is because of their vast contacts and referral base.

    For others, it takes years to build this up through quality service and word of mouth referrals/marketing.

    Success in this business should not be equated with high quality service; I know plenty of brokers who are shady, unethical, uneducated, uncreative in their marketing, unwilling to spend anything outside the standard marketing provided by employing firms, and lazy at their work in terms of accomodating appointments who get a great amount of biz because of who they know. Not that there is anything wrong with that.

    By Anonymous urbandigs, at 6:13 AM  

  • Property Grunt is absolutely right and it proves more than ever how important due diligence is.

    Some buyers spend more time purchasing a car than they do checking out the reputation of their real estate agent.

    By Anonymous Alice Stevens, at 5:51 AM  

  • Ms Goodman's mailings are discreet and tasteful compared to the hand-lettered "ugly yellow signs" that clutter our streets in Southern California.

    These manage to offend everyone.

    By Anonymous Roberta Murphy, at 7:34 AM  

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