What kind of marketing for 5% on 7 figure listing in 78730 can be expected?

Profile picture for winnersinaustin
We are going to downsize from our 5,000sf home in 78730 to a condo downtown. We are looking to see what we could realistically expect in the way of marketing from an agent for a 5% commission on a low 7 figure listing who might also assist in the condo purchase.
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January 24 2010 - Austin

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Profile picture for Dallas Ft. Worth PRO
Every Realtor will have a different marketing plan.  However, whatever you are promised in terms of marketing, get it in writing, ask for recent references.  You should still be able to get full service.

Naima
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January 24 2010
As Naima said, every agent has a little something different to offer. Look around the internet in addition to interviewing a few agents, and see what others are doing to market properties in Austin, ask some of your friends/co-workers what has worked/not worked for them, and ask them for referrals. A lot of us will discount in situations like this, so at least that's encouraging!
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January 24 2010
Good question. I work in this particular market and typically figure to spend around $2000-$2500 per listing in print and online marketing. I figure at least 3 print publications. It depends on how long of a market time it takes to get it sold.
Hope this helps!
Terry Williams GRI,CLHMS,CNE
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January 26 2010
Profile picture for winnersinaustin
Terry,
You mention print, what kind of print advertising do you normally do? Are referring to a color brochure, or newspaper, or both? I guess what I was really asking though, is if I could expect an all out campaign for 5%, or if I might get the usual "you get what you pay for" type of responses supporting the 6% plus listing deal.
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January 26 2010
Profile picture for ARC6676.com
I have noticed an increased number of people downsizing to move into the city lately including myself.

As Cindy and Naima said, regardless of their marketing strategy at 5% ask what they normally do for full commission.

Many realtors like to say they do a lot of unique marketing like advertising in niche market magazines or high end luxury home magazines which cost a lot of money but have no actual value.  Market research shows less than 2% of home buyers in that price range actually find a home they are interested in through a magazine.  It is decent advertising exposure for the agent however.

Make sure the realtor you go with actually has trends and stats that back up their marketing campaign and make sure they actually know the difference between marketing and advertising as well!

Commissions are always negotiable that is why we offer "move up" and "move down" programs to best accommodate our clients.

In short, make sure your realtor is more than just a sales percentage and will actually help you sell your house for the most money, find and negotiate a condo for a fair price and will keep your stresses to a minimum throughout the whole process. 

Make sense?

-Robert, CNE, CDPE, GREEN
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January 26 2010
 
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