Market Metabolism
Blogged on 9/8/2009 by Cynthia Cummins
We in San Francisco are always developing cutting-edge marketing strategies for selling real estate.
Back in the 80s, we figured out that pricing low could goose competition between would-be buyers and thereby induce them to pay top dollar for a house.
In the 90s, agents were quickly sold on the value of staging. I personally only had to see one sow’s ear turned into a silk purse to convince me of the miracles made possible by paint, rental furniture and shade-loving impatiens planted in the dark corners of the yard.
And in the 00s, ever part of the vanguard, we harnessed the internet for marketing purposes. Now every studio condominium has its own website with lavish photographs, virtual tours, floor plans and agent biographies.
In a “down” market, the simplest and most fool-proof marketing tool – which involves the wise strategy of “selling agents first” – is the offering of free food on broker’s tour.
In a town full of foodies, it’s a no brainer and it’s making a big comeback right now.
I believe that the amount of food being offered on brokers’ tour is a reliable barometer of market health and one that pundits and prognosticators sadly ignore.
The more robust the market, the more tilted toward sellers, the less food you will find on tour. If the balance tips toward buyers, an active agent can plan on a 5- to 10-pound weight gain over the course of a few months.
It is currently possible to have a lavish breakfast in Russian Hill, snacks and bottled water in Pacific Heights, dim sum in the Richmond district, light lunch in Noe Valley and, finally, dessert on a loft terrace in SOMA.
Back at the office, the break room will be filled with leftovers from various agents’ various epicurean efforts. Giant chocolate chip cookies and slightly droopy Aram sandwiches are pretty much guaranteed.
Crunches, anyone?
Image courtesy of teenytinyturkey









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