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Erion Shehaj - Houston Real Estate Broker

Rice Military Results and the Strategy behind them

This past week we closed escrow on our townhome listing in Rice Military and we're extremely happy with the final outcome:

After just 37 days on the market and 35 total showings, the townhome was sold at 96% of asking price. To put things in perspective, Rice Military townhomes (in the past six months) took an average of 99 days to sell at an average of 92% of asking price.

But we are not writing this to toot our own horn. Instead, we wanted to talk about The Why behind these results. It can all be tracked back to our Marketing Strategy.

Here's a few of the central reasons behind the successful sale of this Rice Military townhome :

  1. Proper Pricing - In the current Houston real estate environment, it is crucial to avoid chasing down the market. That's when you price a property slightly above market value with the intention of lowering it later once the home doesn't sell. While this strategy can rarely pay off in hot markets, it is an absolute disaster when the market is slower. You will end up selling for a lot less (if you sell at all) than you would've if you had priced the property right from the start. What's pricing it right in this market? Slightly (less than 1%) below market value to drive up demand and kick the competition to the curb. Great credit goes to the seller on this one for trusting our advice from the start.
  2. Unmatched Exposure - Among other things, we gave this great home its own website on its own domain http://4512Center.com where we shed great light on the biggest selling points of this residence through high resolution photos, virtual tour, maps, amenities, descriptions and mortgage calculator. Also, we included lifestyle related information to help prospective buyers create a mental picture of their life in this trendy district. Combining this great information hub with a physical sign rider to draw traffic to the website also ensured increased exposure for what we felt was one of the best values for the money in Rice Military.
  3. Social Media Marketing - Using Facebook , Twitter updates (among other tools) we leveraged our social networks to spread the word (and links) about our listing.

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Want to put the power of our marketing strategy and experience to work for you? Here's how to get a hold of us.

Marketing Calendars -- A must for home sellers and their real estate agents

Photo Credit: Joe Lanman

During a brainstorming session about three years ago, an idea was born within our company that is completely vital to the overall marketing strategy we employ when selling Houston homes. We were trying to find a solution to the following question:

What tool could we provide to home sellers to allow them to track the progress of our marketing campaign for their home?

By the way, we found it ironic that in a field (real estate) where everything has to be written in order to matter (i.e. hold up in court), agents were verbally describing (in general terms) their marketing to their prospective clients. If you think about it, you would not hire a contractor that didn't give you a written bid, would you? The purpose of a written estimate is to provide both parties with clear benchmarks of what constitutes a properly finished job.

Our Solution

Read on the Houston Real Estate Blog

Houston Real Estate March sales retreat

houston real estate sales data

According to a press release by the Houston Association of Realtors on Tuesday, home sales in the Houston Real Estate market continued their year-on-year slide for the seventh month in a row.

First, the raw data:

The total number of sales and (as a result) the total dollar volume went down by approximately 17% compared to last year. The number of active listings on the market and the months of inventory went up 9% and 14.5% respectively. The number of pending sales went down by 19%. On the other hand the average sales price went up by 2% while the median sales price stayed unchanged at $151,000.

Jump to Our Analysis of these data:

Houston Real Estate