You’ve scored your first pocket listing, congratulations! These are highly profitable and can help you stake your claim in your market. The only problem is that most of your go-to real estate marketing strategies aren’t going to help you here. For one, you have to protect your client’s privacy and keep the general public out. Two, the home is probably out of the price range of the average buyer.
Those two factors mean that you need to get creative with your marketing of the home, and we’re ready to help. Below you’ll find seven ways to market a pocket listing so that you can bring in qualified buyers and help to keep your client’s identity and home as private as possible.
Network with Financial Advisors
Gaining the respect and trust of financial advisors can take some time. That, combined with the idea that you are likely reading into marketing pocket listings before you obtain your first, is why we’re starting our list here.
Meeting financial advisors can happen in any number of ways, and you may want to wait for the relationship to start organically rather than approaching them on the spot about a business opportunity. Over time, you can gain their trust by offering your services when they mention clients that need to downsize their assets or have the opportunity to move into a bigger home.
After their trust is gained and a healthy relationship is established, you can approach them about a pocket listing to see if they know of anyone who may be interested. They may even provide you with a list of people who have the kind of income that would justify you approaching them with the opportunity.
With a pocket listing, advertising to the general public is off the table. Even exclusive advertisements in pristine publications might be an issue if the client doesn’t want to make the information to select groups, which is why you should always consult with your client about the idea first. [Read more…]